Soft Seats Inc. manufactures furniture. They reported the following data for the year: Beginning Work in...
Soft Seats Inc. manufactures furniture. They reported the following data for the year:
|
Beginning Work in Process: |
$2,000 |
|
Ending Work in Process: |
$3,000 |
|
Beginning Finished Goods Inventory: |
$15,000 |
|
Ending Finished Goods Inventory: |
$9,000 |
|
Direct Materials Used: |
$146,000 |
|
Indirect Materials Used: |
$30,000 |
|
Direct Labor: |
$200,000 |
|
Indirect Labor: |
$40,000 |
|
Administrative and Selling Expenses: |
$150,000 |
|
Manufacturing Overhead: |
$79,000 |
What was the Cost of Good Manufactured for Soft Seats?
Homework Answers
Calculation of Cost of Goods Manufactured for Soft Seats :
==> Cost of Goods Manufactured = $424,000
Add Answer to:
Soft Seats Inc. manufactures furniture. They reported the
following data for the year:
Beginning Work in...
For last year, Lewisburn Manufacturing reported the following: Revenue $420,000 Beginning inventory of direct materials, January...
For last year, Lewisburn Manufacturing reported the following: Revenue $420,000 Beginning inventory of direct materials, January 1 22,000 Purchases of direct materials 146,000 Ending inventory of direct materials, December 31 16,000 Direct manufacturing labor 18,000 Indirect manufacturing costs 40,000 Beginning inventory of finished goods, January 1 35,000 Beginning inventory of work in process, January 1 4,000 Ending inventory of finished goods, December 31 36,000 Operating costs 140,000 Ending Inventory of work in process, December 31 110,000 What was Lewisbum's cost...
Use the following data to determine the cost of goods manufactured: 5. Beginning finished goods inventory...
Use the following data to determine the cost of goods manufactured: 5. Beginning finished goods inventory Direct labor used Beginning work in process inventory General and administrative expenses Direct materials used Ending work in process inventory Indirect labor Ending finished goods inventory Indirect materials Depreciation-factory equipment $10,800 30, 600 7,200 13,500 40,500 9,000 6,300 9,500 13,500 7,500
Use the following data to determine the cost of goods manufactured: Beginning finished goods inventory $...
Use the following data
to determine the cost of goods manufactured:
Beginning finished goods inventory
$
10,800
Direct
labor
30,600
Beginning work
in process inventory
7,200
General and
administrative expenses
13,500
Direct materials
used
40,500
Ending work in
process inventory
9,000
Indirect
labor
6,300
Ending finished
goods inventory
9,500
Indirect
materials
13,500
Depreciation—factory equipment
7,500
Multiple Choice o $110,100. o $100,200. o $96,600. o $113,700. o $102,000.
Sheffield Corp. reported the following year-end information: Beginning work in process $56000 inventory Beginning raw materials...
Sheffield Corp. reported the following year-end information: Beginning work in process $56000 inventory Beginning raw materials 33000 inventory Ending work in process inventory 54000 Ending raw materials inventory 17000 Raw materials purchased 850000 Direct labor 440000 Manufacturing overhead 100000 How much is Sheffield's cost of goods manufactured for the year? $866000 $1408000 $1404000 $1406000 O O Crane Company reported the following year-end information: Beginning work in process $32000 inventory Beginning raw materials inventory 14000 Ending work in process inventory 34000...
Use the following data to determine the cost of goods manufactured: Beginning finished goods inventory $...
Use the following data to determine the cost of goods manufactured: Beginning finished goods inventory $ 12,700 Direct labor used 32,500 Beginning work in process inventory 9,100 General and administrative expenses 15,400 Direct materials used 42,400 Ending work in process inventory 10,900 Indirect labor 8,200 Ending finished goods inventory 11,400 Indirect materials 15,400 Depreciation—factory equipment 9,400
The Richards Company manufactures a single product. All raw materials used are traceable to specific units...
The Richards Company manufactures a single product. All raw materials used are traceable to specific units of product. Current Information for the Richards Company follows: Beginning raw materials inventory Ending raw materials inventory Raw material purchases Beginning work in process inventory Ending work in process inventory Direct labor Total factory overhead Beginning finished goods inventory Ending finished goods inventory $ 15,000 17,000 95,000 45,000 30,000 135,000 65,000 60,000 50,000 The company's cost of raw materials used, cost of goods manufactured...
During the year, a manufacturing company had the following operating results: Beginning work-in-process inventory Beginning finished...
During the year, a manufacturing company had the following operating results: Beginning work-in-process inventory Beginning finished goods inventory Direct materials used in production Direct labor Manufacturing overhead incurred Ending work-in-process inventory Ending finished goods inventory $ 50,000 $ 200,000 $ 328,000 $ 525,000 $ 270,000 $ 77,000 $ 94,000 What is the cost of goods manufactured for the year? $1,096,000 O $1,229,000 $1,123,000 $1,202,000
9. Old Genius Professor Mullen, Inc reported the following year-end information: beginning work in process inventory,...
9. Old Genius Professor Mullen, Inc reported the following year-end information: beginning work in process inventory, (BI,WIP) $80,000; cost of goods manufactured (CGM), $880,000; beginning finished goods inventory, (BI,FG) $50,000; ending work in process inventory, (EI, WIP) $70,000; and ending finished goods inventory, (EI, FG) $40,000. How much is the Old Genius Professor Mullen Inc's cost of goods sold (CGS) for the year? A) $880,000 B) $890,000 C) $870,000 D) $900,000 10. Mullen Jao Soo Company reported total manufacturing costs...
Jackson Products Schedule of Cost of Goods Manufactured For the Year Ended December 31 (in thousands)...
Jackson Products Schedule of Cost of Goods Manufactured For the Year Ended December 31 (in thousands) Direct materials: Beginning inventory $17,000 Purchases of direct materials 70,000 Cost of direct materials available for use $87,000 Ending inventory (9,000) Direct materials used $ 78,000 Direct manufacturing labor 9,000 Indirect manufacturing costs: Indirect manufacturing labor $ 8,000 Supplies 1,000 Heat, light, and power 4,000 Depreciation -- plant building 2,000 Depreciation -- plant equipment 3,000 Miscellaneous 2,000 20,000 Manufacturing costs incurred during the period $107,000 Add:...
Arturo Manufacturing, Inc. provided the following information for the year: Beginning Balancelong dash—Work-in-Process Inventory $150,000 Ending...
Arturo Manufacturing, Inc. provided the following information for the year: Beginning Balancelong dash—Work-in-Process Inventory $150,000 Ending Balancelong dash—Work-in-Process Inventory 62,500 Beginning Balancelong dash— Direct Materials 269,000 Ending Balancelong dash— Direct Materials 53,700 Purchases long dash— Direct Materials 133,000 Direct Labor 74,380 Indirect Materials 52,350 Indirect Labor 132,500 Depreciation on Factory Plant and Equipment 72,160 Plant Utilities and Insurance 70,980 How much is the cost of goods manufactured?
For last year, Lewisburn Manufacturing reported the following: Revenue $420,000 Beginning inventory of direct materials, January 1 22,000 Purchases of direct materials 146,000 Ending inventory of direct materials, December 31 16,000 Direct manufacturing labor 18,000 Indirect manufacturing costs 40,000 Beginning inventory of finished goods, January 1 35,000 Beginning inventory of work in process, January 1 4,000 Ending inventory of finished goods, December 31 36,000 Operating costs 140,000 Ending Inventory of work in process, December 31 110,000 What was Lewisbum's cost...
Use the following data to determine the cost of goods manufactured: 5. Beginning finished goods inventory Direct labor used Beginning work in process inventory General and administrative expenses Direct materials used Ending work in process inventory Indirect labor Ending finished goods inventory Indirect materials Depreciation-factory equipment $10,800 30, 600 7,200 13,500 40,500 9,000 6,300 9,500 13,500 7,500
Use the following data
to determine the cost of goods manufactured:
Beginning finished goods inventory
$
10,800
Direct
labor
30,600
Beginning work
in process inventory
7,200
General and
administrative expenses
13,500
Direct materials
used
40,500
Ending work in
process inventory
9,000
Indirect
labor
6,300
Ending finished
goods inventory
9,500
Indirect
materials
13,500
Depreciation—factory equipment
7,500
Multiple Choice o $110,100. o $100,200. o $96,600. o $113,700. o $102,000.
Sheffield Corp. reported the following year-end information: Beginning work in process $56000 inventory Beginning raw materials 33000 inventory Ending work in process inventory 54000 Ending raw materials inventory 17000 Raw materials purchased 850000 Direct labor 440000 Manufacturing overhead 100000 How much is Sheffield's cost of goods manufactured for the year? $866000 $1408000 $1404000 $1406000 O O Crane Company reported the following year-end information: Beginning work in process $32000 inventory Beginning raw materials inventory 14000 Ending work in process inventory 34000...
The Richards Company manufactures a single product. All raw materials used are traceable to specific units of product. Current Information for the Richards Company follows: Beginning raw materials inventory Ending raw materials inventory Raw material purchases Beginning work in process inventory Ending work in process inventory Direct labor Total factory overhead Beginning finished goods inventory Ending finished goods inventory $ 15,000 17,000 95,000 45,000 30,000 135,000 65,000 60,000 50,000 The company's cost of raw materials used, cost of goods manufactured...
During the year, a manufacturing company had the following operating results: Beginning work-in-process inventory Beginning finished goods inventory Direct materials used in production Direct labor Manufacturing overhead incurred Ending work-in-process inventory Ending finished goods inventory $ 50,000 $ 200,000 $ 328,000 $ 525,000 $ 270,000 $ 77,000 $ 94,000 What is the cost of goods manufactured for the year? $1,096,000 O $1,229,000 $1,123,000 $1,202,000
9. Old Genius Professor Mullen, Inc reported the following year-end information: beginning work in process inventory, (BI,WIP) $80,000; cost of goods manufactured (CGM), $880,000; beginning finished goods inventory, (BI,FG) $50,000; ending work in process inventory, (EI, WIP) $70,000; and ending finished goods inventory, (EI, FG) $40,000. How much is the Old Genius Professor Mullen Inc's cost of goods sold (CGS) for the year? A) $880,000 B) $890,000 C) $870,000 D) $900,000 10. Mullen Jao Soo Company reported total manufacturing costs...
Most questions answered within 3 hours.
-
Write a Verilog program that tests whether a 4-bit input
variable is a Fibonacci number or...
asked 3 minutes ago -
MYSQL
Consider the sql statement "select * from t1 UNION t2" where t1
and t2 are...
asked 5 minutes ago -
2. A retailer sells 10,000 units at $10. Each unit costs the
retailer $7.00 to sell,...
asked 8 minutes ago -
If the Stratosphere elevator in Las Vegas is 500 m above the
ground when the cables...
asked 20 minutes ago -
identify at least one other characteristics of the soils/sand
that may have impacted the growth of...
asked 27 minutes ago -
True or False
The following statements refer to The Web of Belief
10. An explanation of...
asked 28 minutes ago -
15)___________ A study was conducted to
test the effectiveness of aspirin on reducing
asked 36 minutes ago -
How fast must a centrifuge spin if a particle 8 cm from the axis
of rotation...
asked 37 minutes ago -
Which of the following is characteristic of a single exposure
common vehicle outbreak?
a. Wide range...
asked 39 minutes ago -
You are a member of an alpine rescue team and must get a box of
supplies,...
asked 42 minutes ago -
Where the conservation of biodiversity is concerned, can I be
assisted with these questions:
1. What...
asked 42 minutes ago -
A 79-Ω loudspeaker, a 8.0-Ω loudspeaker, and a 3.7-Ω loudspeaker
are connected in parallel across the...
asked 1 hour ago