Homework Answers
Answer:
| Cost of goods Manufactured Schedule | ||
| Beginning Work in Progress | 17600 | |
| Direct Material | 64300 | |
| Direct Labor | 51400 | |
| Overhead | 42100 | |
| Total Manufacturing Cost | 157800 | |
| Total Cost of Work in Progress | 175400 | |
| Less Work in Process May 31 | 17000 | |
| Cost of goods Manufactured | 158400 |
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At May 31, 2020, the accounts of Lopez Company show the following. 1. 2. 3. May...
At May 31, 2020, the accounts of Lopez Company show the following. 1. 2. 3. May...
At May 31, 2020, the accounts of Lopez Company show the following. 1. 2. 3. May 1 inventories-finished goods $14,800, work in process $17,600, and raw materials $8,600. May 31 inventories-finished goods $9,600, work in process $17,000, and raw materials $8,000. Debit postings to work in process were direct materials $64,300, direct labor $51,400, and manufacturing overhead applied $42,100. (Assume that overhead applied was equal to overhead incurred.) Sales revenue totaled $217,000. 4. Prepare an income statement for May through...
At May 31, 2020, the accounts of Lopez Company show the following. 1. May 1 inventories—finished...
At May 31, 2020, the accounts of Lopez Company show the following. 1. May 1 inventories—finished goods $14,800, work in process $17,600, and raw materials $8,600. 2. May 31 inventories—finished goods $9,600, work in process $17,000, and raw materials $8,000. 3. Debit postings to work in process were direct materials $64,300, direct labor $51,400, and manufacturing overhead applied $42,100. (Assume that overhead applied was equal to overhead incurred.) 4. Sales revenue totaled $217,000. Prepare an income statement for May through...
Exercise 15-9 At May 31, 2017, the accounts of Lopez Company show the following. 1. May...
Exercise 15-9 At May 31, 2017, the accounts of Lopez Company show the following. 1. May 1 inventories-finished goods $14,800, work in process $17,600, and raw materials $8,600. 2. May 31 inventories-finished goods $9,600, work in process $17,000, and raw materials $8,000. 3. Debit postings to work in process were direct materials $64,300, direct labor $51,400, and manufacturing overhead applied $42,100. 4. Sales revenue totaled $217,000. Prepare a condensed cost of goods manufactured schedule. LOPEZ COMPANY Cost of Goods Manufactured...
Exercise 15-9 At May 31, 2017, the accounts of Lopez Company show the following. 1. May...
Exercise 15-9
At May 31, 2017, the accounts of Lopez Company show the
following.
1.
May 1 inventories—finished goods $14,800, work in process
$17,600, and raw materials $8,600.
2.
May 31 inventories—finished goods $9,600, work in process
$17,000, and raw materials $8,000.
3.
Debit postings to work in process were direct materials
$64,300, direct labor $51,400, and manufacturing overhead applied
$42,100.
4.
Sales revenue totaled $217,000.
Prepare a condensed cost of goods manufactured schedule. LOPEZ COMPANY Cost of Goods Manufactured...
At May 31, 2020, the accounts of Lopez Company show the following. 1. 2. 3. May...
At May 31, 2020, the accounts of Lopez Company show the following. 1. 2. 3. May 1 inventories-finished goods $14,300, work in process $15,100, and raw materials $8,900. May 31 inventories-finished goods $9,600, work in process $16,100, and raw materials $7,600. Debit postings to work in process were direct materials $62,800, direct labor $53,100, and manufacturing overhead applied $42,300.(Assume that overhead applied was equal to overhead incurred.) Sales revenue totaled $216,200. 4. (a) Prepare a condensed cost of goods manufactured...
At May 31, 2020, the accounts of Lopez Company show the following. 1. 2. 3. May...
At May 31, 2020, the accounts of Lopez Company show the following. 1. 2. 3. May 1 inventories-finished goods $15,000, work in process $16,900, and raw materials $9,300. May 31 inventories-finished goods $9,900, work in process $17,100, and raw materials $7,300. Debit postings to work in process were direct materials $64,500, direct labor $52,400, and manufacturing overhead applied $42,700. (Assume that overhead applied was equal to overhead incurred.) Sales revenue totaled $216,500. 4. Prepare a condensed cost of goods manufactured...
At May 31, 2020, the accounts of Lopez Company show the following. 1. May 1 inventories-finished...
At May 31, 2020, the accounts of Lopez Company show the following. 1. May 1 inventories-finished goods $14,000, work in process $17,600, and raw materials $8,400. 2. May 31 inventories-finished goods $9,600, work in process $18,000, and raw materials $8,000. 3. Debit postings to work in process were direct materials $65,100, direct labor $51,600, and manufacturing overhead applied $40,200. (Assume that overhead applied was equal to overhead incurred.) 4. Sales revenue totaled $216,500. Prepare a condensed cost of goods manufactured...
At May 31, 2017, the accounts of Lopez Company show the following. 1. May 1 inventories—finished...
At May 31, 2017, the accounts of Lopez Company show the
following.
1.
May 1 inventories—finished goods $14,300, work in process
$17,400, and raw materials $8,800.
2.
May 31 inventories—finished goods $9,900, work in process
$16,000, and raw materials $7,500.
3.
Debit postings to work in process were direct materials
$64,700, direct labor $50,400, and manufacturing overhead applied
$42,500.
4.
Sales revenue totaled $216,000.
Prepare a condensed cost of goods manufactured schedule.
Prepare an income statement for May through gross...
Exercise 20-09 a-c (Part Level Submission) At May 31, 2020, the accounts of Crane Company show...
Exercise 20-09 a-c (Part Level Submission) At May 31, 2020, the accounts of Crane Company show the following 1. May 1 Inventories-finished goods $14,400, work in process $17,400, and raw materials $9,000 2. May 31 inventories-finished goods $9,600, work in process $16,800, and raw materials $8,200. 3. Debit postings to work in process were direct materials $65,400, direct labor $51,900, and manufacturing overhead applied $42,400. (Assume that overhead applied was equal to overhead incurred.) 4. Sales revenue totaled $217,000. (a)...
At May 31, 2017, the accounts of Lopez Company show the following 1. May 1 inventories...
At May 31, 2017, the accounts of Lopez Company show the following 1. May 1 inventories - finished goods $12,600, work in process $14,700 a 2. May 31 inventories-finished goods $9,500, work in process, $15,900, and raw nd raw materials $8.200 materials $7,100 Debit postings to work in process were direct materials, 562.400, direct labor $50,0o0 and manufacturing overhead applied $40,000 4. Sales revenue totaled $215,000. Instructions (a) Prepare a condensed cost of goods manufactured schedule (b) Prepare an income...
At May 31, 2020, the accounts of Lopez Company show the following. 1. 2. 3. May 1 inventories-finished goods $14,800, work in process $17,600, and raw materials $8,600. May 31 inventories-finished goods $9,600, work in process $17,000, and raw materials $8,000. Debit postings to work in process were direct materials $64,300, direct labor $51,400, and manufacturing overhead applied $42,100. (Assume that overhead applied was equal to overhead incurred.) Sales revenue totaled $217,000. 4. Prepare an income statement for May through...
Exercise 15-9 At May 31, 2017, the accounts of Lopez Company show the following. 1. May 1 inventories-finished goods $14,800, work in process $17,600, and raw materials $8,600. 2. May 31 inventories-finished goods $9,600, work in process $17,000, and raw materials $8,000. 3. Debit postings to work in process were direct materials $64,300, direct labor $51,400, and manufacturing overhead applied $42,100. 4. Sales revenue totaled $217,000. Prepare a condensed cost of goods manufactured schedule. LOPEZ COMPANY Cost of Goods Manufactured...
Exercise 15-9
At May 31, 2017, the accounts of Lopez Company show the
following.
1.
May 1 inventories—finished goods $14,800, work in process
$17,600, and raw materials $8,600.
2.
May 31 inventories—finished goods $9,600, work in process
$17,000, and raw materials $8,000.
3.
Debit postings to work in process were direct materials
$64,300, direct labor $51,400, and manufacturing overhead applied
$42,100.
4.
Sales revenue totaled $217,000.
Prepare a condensed cost of goods manufactured schedule. LOPEZ COMPANY Cost of Goods Manufactured...
At May 31, 2020, the accounts of Lopez Company show the following. 1. 2. 3. May 1 inventories-finished goods $14,300, work in process $15,100, and raw materials $8,900. May 31 inventories-finished goods $9,600, work in process $16,100, and raw materials $7,600. Debit postings to work in process were direct materials $62,800, direct labor $53,100, and manufacturing overhead applied $42,300.(Assume that overhead applied was equal to overhead incurred.) Sales revenue totaled $216,200. 4. (a) Prepare a condensed cost of goods manufactured...
At May 31, 2020, the accounts of Lopez Company show the following. 1. 2. 3. May 1 inventories-finished goods $15,000, work in process $16,900, and raw materials $9,300. May 31 inventories-finished goods $9,900, work in process $17,100, and raw materials $7,300. Debit postings to work in process were direct materials $64,500, direct labor $52,400, and manufacturing overhead applied $42,700. (Assume that overhead applied was equal to overhead incurred.) Sales revenue totaled $216,500. 4. Prepare a condensed cost of goods manufactured...
At May 31, 2020, the accounts of Lopez Company show the following. 1. May 1 inventories-finished goods $14,000, work in process $17,600, and raw materials $8,400. 2. May 31 inventories-finished goods $9,600, work in process $18,000, and raw materials $8,000. 3. Debit postings to work in process were direct materials $65,100, direct labor $51,600, and manufacturing overhead applied $40,200. (Assume that overhead applied was equal to overhead incurred.) 4. Sales revenue totaled $216,500. Prepare a condensed cost of goods manufactured...
At May 31, 2017, the accounts of Lopez Company show the
following.
1.
May 1 inventories—finished goods $14,300, work in process
$17,400, and raw materials $8,800.
2.
May 31 inventories—finished goods $9,900, work in process
$16,000, and raw materials $7,500.
3.
Debit postings to work in process were direct materials
$64,700, direct labor $50,400, and manufacturing overhead applied
$42,500.
4.
Sales revenue totaled $216,000.
Prepare a condensed cost of goods manufactured schedule.
Prepare an income statement for May through gross...
Exercise 20-09 a-c (Part Level Submission) At May 31, 2020, the accounts of Crane Company show the following 1. May 1 Inventories-finished goods $14,400, work in process $17,400, and raw materials $9,000 2. May 31 inventories-finished goods $9,600, work in process $16,800, and raw materials $8,200. 3. Debit postings to work in process were direct materials $65,400, direct labor $51,900, and manufacturing overhead applied $42,400. (Assume that overhead applied was equal to overhead incurred.) 4. Sales revenue totaled $217,000. (a)...
At May 31, 2017, the accounts of Lopez Company show the following 1. May 1 inventories - finished goods $12,600, work in process $14,700 a 2. May 31 inventories-finished goods $9,500, work in process, $15,900, and raw nd raw materials $8.200 materials $7,100 Debit postings to work in process were direct materials, 562.400, direct labor $50,0o0 and manufacturing overhead applied $40,000 4. Sales revenue totaled $215,000. Instructions (a) Prepare a condensed cost of goods manufactured schedule (b) Prepare an income...
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