Homework Answers
The cost of goods manufactured is :
- The formula for presenting the cost of goods manufactured is :
The cost of the direct materials used + The cost of the direct labor used + The cost of manufacturing overhead assigned + The cost of the beginning work-in-process inventory -(minus) The cost of the ending work-in-process inventory.
- So here,
The cost of the direct materials used = 152,000
The cost of the direct labor used = 64,000
The cost of manufacturing overhead assigned = 174,000
The cost of the beginning work-in-process inventory = 220,000
The cost of the ending work-in-process inventory = 108,000
- And The cost of goods sold is :
$152,000 + $64,000 + $174,000 + $220,000 - $108,000 = $502,000
The answer is option A. $ 502,000
Add Answer to:
Test: Test #1 (Chapters 14 and 16) This Question: 4 pts 20 of 38 (8 complet...
Test: Test I chapters 16 17 18 19 This Question: 10 pls 19 of 22 13...
Test: Test I chapters 16 17 18 19 This Question: 10 pls 19 of 22 13 complete 12. TUV Manufacturing Company has the following data for 2019 (amounts in mibon) !! Click the icon to the information ) Prepare the schedule of cost of goods manufactured and the cost of goods sold section of the income statement for the year ended December 31, 2015 Beginning Work in Process Inventory Direct Maconals Used Direct Materiais Available for Use Manufacturing Overhead X...
Use the following for the next three questions, Benson Inc.'s accounting records reflect the following inventories:...
Use the following for the next three questions, Benson Inc.'s accounting records reflect the following inventories: Jan. 1,20x5 Dec. 31, 20x5 Raw materials inventory $80,000 $64,000 Work in process inventory 104,000 116,000 Finished goods inventory 100,000 92,000 During 20X5, Benson purchased $1,160,000 of raw materials, incurred direct labor costs of $100,000, and incurred manufacturing overhead totaling $128,000. How much raw materials were transferred to production during 20X5.for Benson? 1) $1,176,000 2) $1,144,000 3) $1,392,000 4) $1,160,000 Benson Inc.'s accounting records...
Question 6 (2 points) Carly Manufacturing Company's accounting records reflect the following amounts: Raw Materials Inventory,...
Question 6 (2 points) Carly Manufacturing Company's accounting records reflect the following amounts: Raw Materials Inventory, Jan 1, 2008 - $260,000 Raw Materials Inventory, Dec 31, 2008 - $310,000 Work in Process Inventory, Jan 1, 2008 - $160,000 Work in Process Inventory, Dec 31, 2008 - $300,000 Finished Goods Inventory, Jan 1, 2008 - $150,000 Finished Goods Inventory, Dec 31, 2008 - $190,000 Raw materials purchased during 2008 - $500,000 Direct labor costs during 2008 - $600,000 Manufacturing overhead incurred...
TIC PICILL. Alempt 2 Question 2 (1 point) Ogleby Inc.'s accounting records reflect the following inventories:...
TIC PICILL. Alempt 2 Question 2 (1 point) Ogleby Inc.'s accounting records reflect the following inventories: Dec. 31. 2012 Dec. 31. 2013 Raw materials $120,000 $ 96,000 inventory Work in process 156,000 174,000 inventory Finished goods 150,000 138,000 inventory During 2013, Ogleby purchased $840,000 of raw materials, incurred direct labor costs of $150,000, and incurred manufacturing overhead totaling $192,000. How much would Ogleby Manufacturing report as cost of goods manufactured for 2013? a) $1,218,000 Ob) $1,188,000 c) $1,224.000 d) $1,164,000...
not sure what im missing to get the answer? 10 Shu Mullen, Ine's accounting records reflect...
not sure what im missing to get the answer?
10 Shu Mullen, Ine's accounting records reflect the following inventories: _Jan 1. 2015 (BI) Dec 31, 2015 (EI) Raw materials inventory (RM) $120,000 $ 96,000 Work in process inventory (WIP) 156,000 174,000 Finished goods inventory (FG) 150,000 138,000 During 2015, Lao Shu Mullen, Inc purchased $940,000 of raw materials, incurred direct labor (DL) costs of $150,000, and incurred manufacturing overhead (OH) totaling $192,000. How much is total manufacturing costs (TMC) incurred...
6. Poor Professor Mullen (PPM), Inc. has $20,000 of ending finished goods (EI, FG) inventory as...
6. Poor Professor Mullen (PPM), Inc. has $20,000 of ending finished goods (EI, FG) inventory as of December 31, 2015. If beginning finished goods (BI, FG) inventory was $10,000 and cost of goods sold (CGS) was $40,000, how much would Poor Professor Mullen, Inc report for cost of goods manufactured (CGM) ? A) $45,000 B) $10,000 C) $50,000 D) $30,000 7. Lao Shu Mullen, Inc's accounting records reflect the following inventories: Jan 1, 2015 (BI) $120,000 156,000 150,000 Dec.31, 2015...
Test: Test #1 (Chapters 14 and 16) This Question: 5 pts 24 of 38 (8 complete)...
Test: Test #1 (Chapters 14 and 16) This Question: 5 pts 24 of 38 (8 complete) The cost of carrots used in the production of carrot soup are classified as: Variable Cost No Prime Cost Yes Yes Conversion Cost No Yes No Yes Choice A Choice B Choice C Choice D No Product Cost Yes No Yes Yes Yes No Yes Yes O A. Choice A B. Choice C O C. Choice D OD. Choice B Click to select your...
6. Poor Professor Mullen (PPM) Ine hae $20.000 of ending finished goods (EI, FG) inventory as...
6. Poor Professor Mullen (PPM) Ine hae $20.000 of ending finished goods (EI, FG) inventory as of December 31, 2015. If beginning finished coods (BIFG) inventory was $10,000 and cost of goods sold (CGS) was $40.000, how much would Poor Professor Mullen, Inc report for cost of goods manufactured (CGM)? A) $45,000 B) $10,000 C) $50,000 D) $30,000 7. Lao Shu Mullen, Ine's accounting records reflect the following inventories: -_Jan 1. 2015 (BI) Dec.31. 2015 (ET) Raw materials inventory (RM)...
please help with these please i am so confused. please do all them. thank you. 14....
please help with these please i am so confused. please do all
them. thank you.
14. The basis for recording direct and indirect labor costs incurred is a summary of the period a job order cost sheets b. time tickets c. employees' earnings records d clock cards 15. At the end of the fiscal year, the balance in Factory Overhead is small. This balance would normally be: a. transferred to Work in Process b. transferred to Cost of Goods Sold...
Test (Chapters 1+) Part 1. Problems. There are four problems. Each one is worth the score...
Test (Chapters 1+) Part 1. Problems. There are four problems. Each one is worth the score indicated next to the problem number. Show all work for complete credit. You may write your answers on the test or attach extra pages. Please be NEAT when writing your answers. I cannot grade illegible answers. (30 points possible) 1. (9 points) The following data have been taken from the accounting records of Larder Corporation for the just completed year. Sales. ............................... Purchases of...
Test: Test I chapters 16 17 18 19 This Question: 10 pls 19 of 22 13 complete 12. TUV Manufacturing Company has the following data for 2019 (amounts in mibon) !! Click the icon to the information ) Prepare the schedule of cost of goods manufactured and the cost of goods sold section of the income statement for the year ended December 31, 2015 Beginning Work in Process Inventory Direct Maconals Used Direct Materiais Available for Use Manufacturing Overhead X...
Use the following for the next three questions, Benson Inc.'s accounting records reflect the following inventories: Jan. 1,20x5 Dec. 31, 20x5 Raw materials inventory $80,000 $64,000 Work in process inventory 104,000 116,000 Finished goods inventory 100,000 92,000 During 20X5, Benson purchased $1,160,000 of raw materials, incurred direct labor costs of $100,000, and incurred manufacturing overhead totaling $128,000. How much raw materials were transferred to production during 20X5.for Benson? 1) $1,176,000 2) $1,144,000 3) $1,392,000 4) $1,160,000 Benson Inc.'s accounting records...
Question 6 (2 points) Carly Manufacturing Company's accounting records reflect the following amounts: Raw Materials Inventory, Jan 1, 2008 - $260,000 Raw Materials Inventory, Dec 31, 2008 - $310,000 Work in Process Inventory, Jan 1, 2008 - $160,000 Work in Process Inventory, Dec 31, 2008 - $300,000 Finished Goods Inventory, Jan 1, 2008 - $150,000 Finished Goods Inventory, Dec 31, 2008 - $190,000 Raw materials purchased during 2008 - $500,000 Direct labor costs during 2008 - $600,000 Manufacturing overhead incurred...
TIC PICILL. Alempt 2 Question 2 (1 point) Ogleby Inc.'s accounting records reflect the following inventories: Dec. 31. 2012 Dec. 31. 2013 Raw materials $120,000 $ 96,000 inventory Work in process 156,000 174,000 inventory Finished goods 150,000 138,000 inventory During 2013, Ogleby purchased $840,000 of raw materials, incurred direct labor costs of $150,000, and incurred manufacturing overhead totaling $192,000. How much would Ogleby Manufacturing report as cost of goods manufactured for 2013? a) $1,218,000 Ob) $1,188,000 c) $1,224.000 d) $1,164,000...
not sure what im missing to get the answer?
10 Shu Mullen, Ine's accounting records reflect the following inventories: _Jan 1. 2015 (BI) Dec 31, 2015 (EI) Raw materials inventory (RM) $120,000 $ 96,000 Work in process inventory (WIP) 156,000 174,000 Finished goods inventory (FG) 150,000 138,000 During 2015, Lao Shu Mullen, Inc purchased $940,000 of raw materials, incurred direct labor (DL) costs of $150,000, and incurred manufacturing overhead (OH) totaling $192,000. How much is total manufacturing costs (TMC) incurred...
Test: Test #1 (Chapters 14 and 16) This Question: 5 pts 24 of 38 (8 complete) The cost of carrots used in the production of carrot soup are classified as: Variable Cost No Prime Cost Yes Yes Conversion Cost No Yes No Yes Choice A Choice B Choice C Choice D No Product Cost Yes No Yes Yes Yes No Yes Yes O A. Choice A B. Choice C O C. Choice D OD. Choice B Click to select your...
6. Poor Professor Mullen (PPM) Ine hae $20.000 of ending finished goods (EI, FG) inventory as of December 31, 2015. If beginning finished coods (BIFG) inventory was $10,000 and cost of goods sold (CGS) was $40.000, how much would Poor Professor Mullen, Inc report for cost of goods manufactured (CGM)? A) $45,000 B) $10,000 C) $50,000 D) $30,000 7. Lao Shu Mullen, Ine's accounting records reflect the following inventories: -_Jan 1. 2015 (BI) Dec.31. 2015 (ET) Raw materials inventory (RM)...
please help with these please i am so confused. please do all
them. thank you.
14. The basis for recording direct and indirect labor costs incurred is a summary of the period a job order cost sheets b. time tickets c. employees' earnings records d clock cards 15. At the end of the fiscal year, the balance in Factory Overhead is small. This balance would normally be: a. transferred to Work in Process b. transferred to Cost of Goods Sold...
Test (Chapters 1+) Part 1. Problems. There are four problems. Each one is worth the score indicated next to the problem number. Show all work for complete credit. You may write your answers on the test or attach extra pages. Please be NEAT when writing your answers. I cannot grade illegible answers. (30 points possible) 1. (9 points) The following data have been taken from the accounting records of Larder Corporation for the just completed year. Sales. ............................... Purchases of...
Most questions answered within 3 hours.
-
Which of the following statements is true regarding the nature
of culture?
A.We are born with...
asked 1 minute ago -
(a) 2
NO2(g) à 2
NO(g) +
O2(g)
The rate law for this reaction
is 2nd...
asked 4 minutes ago -
Write the overall reaction for the RedOx
reaction (below) when it occurs in an acidic environment....
asked 10 minutes ago -
Two forces are acting on an object. Force 1 on the object is 6.0
N and...
asked 12 minutes ago -
You are planning for retirement. You plan to work for 20 years.
Starting a year from...
asked 25 minutes ago -
The African Adventures exhibit water system holds approximately
850,000 gallons (3.2x109 g) of water. The temperature...
asked 16 minutes ago -
which of the following is capital?
the barn a farmer uses to hold the chickens he...
asked 26 minutes ago -
Attribute
Sample Value
Sample Value
Sample Value
Sample Value
pirate_num
11
22
43
54
pirate_lname
James...
asked 20 minutes ago -
10. Two forces act on a 3 kg object, the gravitational force and
a second, constant...
asked 37 minutes ago -
Dividing Partnership Net Loss
Leigh Meadows and Byron Leef formed a partnership in which the
partnership...
asked 34 minutes ago -
Discuss how Entrepreneurial leadership style differs
from traditional leadership?
asked 1 hour ago -
A futuristic design for a car is to have a large solid
disk-shaped flywheel within the...
asked 58 minutes ago