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The controller at Lawrence Components asks for your help in sorting out some cost informati you...
The controller at Lawrence Components asks for your help in sorting out some cost information. She...
The controller at Lawrence Components asks for your help in sorting out some cost information. She is called to a meeting, but hands you the following information for April. Prime costs, April Total manufacturing costs, April Cost of goods manufactured, April Cost of goods sold, April Direct materials inventory, April 30 Work-in-process inventory, April 1 Finished goods inventory, April 30 Direct materials purchased, April Direct labor costs, April $ 156,000 275,000 263,000 218,000 15,500 9,300 76,000 79,000 55,000 Required: a....
The controller at Lawrence Components asks for your help in sorting out some cost information. She...
The controller at Lawrence Components asks for your help in sorting out some cost information. She is called to a meeting, but hands you the following information for April. Prime costs, April Total manufacturing costs, April Cost of goods manufactured, April Cost of goods sold, April Direct materials inventory, April 30 Work-in-process inventory, April 1 Finished goods inventory, April 30 Direct materials purchased, April Direct labor costs, April $ 98,000 178,000 180,000 142,000 10,000 6,000 48,000 56,000 40,000 Required: a....
The controller at Lawrence Components asks for your help in sorting out some cost information. She...
The controller at Lawrence Components asks for your help in sorting out some cost information. She is called to a meeting, but hands you the following information for April Prime costs, April Total manufacturing costs, April Cost of goods manufactured, April Cost of goods sold, April Direct materials inventory, April 30 Work-in-process inventory, April 1 Finished goods inventory, April 30 Direct materials purchased, April Direct labor costs, April $ 150,000 275,000 267,000 219,000 15,400 9,700 79,000 78,000 51,000 Required: a....
KHI Cn 123 Save Help Save & Exit Submit 5 The controller at Lawrence Components asks...
KHI Cn 123 Save Help Save & Exit Submit 5 The controller at Lawrence Components asks for your help in sorting out some cost information. She is called to a meeting, but hands you the following information for April Prime costs, April Total manufacturing costs, April Cost of goods manufactured, April Cost of goods sold, April Direct materials inventory, April 30 Work-in-process inventory, April 1 Finished goods inventory, April 30 Direct materials purchased, April Direct labor costs, April $ 150,000...
I need help with this accounting problem. The controller at Lawrence Components asks for your help...
I need help with this accounting problem.
The controller at Lawrence Components asks for your help in sorting out some cost information. She is called to a meeting, but hands you the following information for April Prime costs, April Total manufacturing conte, April Cost of goods manufactured, April Cost of goods sold, April Direct materials inventory, April 30 Work-in-process inventory, April 1 Finished goods inventory, April 30 Direct materials purchased, April Direct labor coats, April $ 154.000 275,000 261,000 221.000...
156,000 275,000 264,000 213,000 15,500 9,300 79,000 82,000 58,000 Direct material used for April 98,000 Please...
156,000
275,000
264,000
213,000
15,500
9,300
79,000
82,000
58,000
Direct material used for April 98,000
Please show ur work step by step thank you
Don't do the requirements above the questions
DO THIS REQUIREMENTS
a. compute the direct material inventory as of April 1
b. compute the conversation cost for the month of April
c. compute the work in process inventory as of april 30
d. compute the manufacturing overhead for the month of April
e. compute the finished goods...
OBJ.4 EX 22-16 Cost of goods sold budget ✓ Cost of goods sold, Dover Chemical Company...
OBJ.4 EX 22-16 Cost of goods sold budget ✓ Cost of goods sold, Dover Chemical Company uses oil to produce two types of plastic products, P1 and P2. $2,954,700 Dover budgeted 30,000 barrels of oil for purchase in April for $78 per barrel. Direct labor budgeted in the chemical process was $240,000 for April. Factory overhead was budgeted $375,000 during April. The inventories on April 1 were estimated to be: Oil ........ P1........... P2.... Work in process ........... $15,800 9,800...
Cost of Goods Sold, The total cost of making and finishing a product.Cost of Goods Manufactured...
Cost of Goods Sold, The total cost of making and finishing a product.Cost of Goods Manufactured Glenville Company has the following information for April: The cost of materials that are an integral part of the finished product.Cost of direct materials used in production $ 49,000 The wages of factory workers who are directly involved in converting materials into a finished product.Direct labor 55,000 All of the costs of producing a product except for direct materials and direct labor.Factory overhead 28,000...
GRA the previous controller left the company with little notice and left the accounting records in...
GRA the previous controller left the company with little notice and left the accounting records in disarray. Ron needs the ending inventory balances to report first quarter numbers. For the previous month (March 2011) Ron was able to piece together the following information: Direct materials purchased Work-in-process inventory, 3/1/2011 Direct materials inventory, 3/1/2011 Finished goods inventory, 3/1/2011 Conversion Costs Total manufacturing costs added during the period $840,000 Cost of goods manufactured Gross margin as a percentage of revenues Revenues (Q3)...
Work in Process Account Data for Two Months; Cost of Production Reports Hearty Soup Co. uses...
Work in Process Account Data for Two Months; Cost of Production Reports Hearty Soup Co. uses a process cost system to record the costs of processing soup, which requires the cooking and filling processes. Materials are entered from the cooking process at the beginning of the filling process. The inventory of Work in Process-Filling on April 1 and debits to the account during April were as follows: Bal., 600 units, 70% completed: $ 2,580 Direct materials (600 x $4.30) Conversion...
The controller at Lawrence Components asks for your help in sorting out some cost information. She is called to a meeting, but hands you the following information for April. Prime costs, April Total manufacturing costs, April Cost of goods manufactured, April Cost of goods sold, April Direct materials inventory, April 30 Work-in-process inventory, April 1 Finished goods inventory, April 30 Direct materials purchased, April Direct labor costs, April $ 156,000 275,000 263,000 218,000 15,500 9,300 76,000 79,000 55,000 Required: a....
The controller at Lawrence Components asks for your help in sorting out some cost information. She is called to a meeting, but hands you the following information for April. Prime costs, April Total manufacturing costs, April Cost of goods manufactured, April Cost of goods sold, April Direct materials inventory, April 30 Work-in-process inventory, April 1 Finished goods inventory, April 30 Direct materials purchased, April Direct labor costs, April $ 98,000 178,000 180,000 142,000 10,000 6,000 48,000 56,000 40,000 Required: a....
The controller at Lawrence Components asks for your help in sorting out some cost information. She is called to a meeting, but hands you the following information for April Prime costs, April Total manufacturing costs, April Cost of goods manufactured, April Cost of goods sold, April Direct materials inventory, April 30 Work-in-process inventory, April 1 Finished goods inventory, April 30 Direct materials purchased, April Direct labor costs, April $ 150,000 275,000 267,000 219,000 15,400 9,700 79,000 78,000 51,000 Required: a....
KHI Cn 123 Save Help Save & Exit Submit 5 The controller at Lawrence Components asks for your help in sorting out some cost information. She is called to a meeting, but hands you the following information for April Prime costs, April Total manufacturing costs, April Cost of goods manufactured, April Cost of goods sold, April Direct materials inventory, April 30 Work-in-process inventory, April 1 Finished goods inventory, April 30 Direct materials purchased, April Direct labor costs, April $ 150,000...
I need help with this accounting problem.
The controller at Lawrence Components asks for your help in sorting out some cost information. She is called to a meeting, but hands you the following information for April Prime costs, April Total manufacturing conte, April Cost of goods manufactured, April Cost of goods sold, April Direct materials inventory, April 30 Work-in-process inventory, April 1 Finished goods inventory, April 30 Direct materials purchased, April Direct labor coats, April $ 154.000 275,000 261,000 221.000...
156,000
275,000
264,000
213,000
15,500
9,300
79,000
82,000
58,000
Direct material used for April 98,000
Please show ur work step by step thank you
Don't do the requirements above the questions
DO THIS REQUIREMENTS
a. compute the direct material inventory as of April 1
b. compute the conversation cost for the month of April
c. compute the work in process inventory as of april 30
d. compute the manufacturing overhead for the month of April
e. compute the finished goods...
OBJ.4 EX 22-16 Cost of goods sold budget ✓ Cost of goods sold, Dover Chemical Company uses oil to produce two types of plastic products, P1 and P2. $2,954,700 Dover budgeted 30,000 barrels of oil for purchase in April for $78 per barrel. Direct labor budgeted in the chemical process was $240,000 for April. Factory overhead was budgeted $375,000 during April. The inventories on April 1 were estimated to be: Oil ........ P1........... P2.... Work in process ........... $15,800 9,800...
GRA the previous controller left the company with little notice and left the accounting records in disarray. Ron needs the ending inventory balances to report first quarter numbers. For the previous month (March 2011) Ron was able to piece together the following information: Direct materials purchased Work-in-process inventory, 3/1/2011 Direct materials inventory, 3/1/2011 Finished goods inventory, 3/1/2011 Conversion Costs Total manufacturing costs added during the period $840,000 Cost of goods manufactured Gross margin as a percentage of revenues Revenues (Q3)...
Work in Process Account Data for Two Months; Cost of Production Reports Hearty Soup Co. uses a process cost system to record the costs of processing soup, which requires the cooking and filling processes. Materials are entered from the cooking process at the beginning of the filling process. The inventory of Work in Process-Filling on April 1 and debits to the account during April were as follows: Bal., 600 units, 70% completed: $ 2,580 Direct materials (600 x $4.30) Conversion...
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