Homework Answers
| 1 | |||||||||
| Calculate direct material inventory, October 31, 2015 | |||||||||
| Direct material used = Beginning raw material inventory + Raw material purchased - Ending raw material inventory | |||||||||
| 5780 = 1100+6500 - Ending raw material inventory | |||||||||
| Ending raw material inventory = 1100+6500-5780 | |||||||||
| Ending raw material inventory | $1,820 | ||||||||
| 2 | |||||||||
| Manufacturing overhead | Fixed costs + Variable costs | ||||||||
| 4350 | Fixed costs + 2800 | ||||||||
| Fixed costs | 4350-2800 | ||||||||
| Fixed costs | $1,550 | ||||||||
| 3 | |||||||||
| Manufacturing costs | Direct material used + Direct labor costs + Manufacturing overhead | ||||||||
| 16530 | 5780 + Direct labor costs + 4350 | ||||||||
| Direct labor costs | 16530-5780-4350 | ||||||||
| Direct labor costs | $6,400 | ||||||||
| 4 | |||||||||
| Cost of goods manufactured | Beginning WIP + Total manufacturing costs - Ending WIP | ||||||||
| 16420 | 750+16530 - Ending WIP | ||||||||
| Ending WIP | 750+16530-16420 | ||||||||
| Ending WIP | $860 | ||||||||
| 5 | |||||||||
| Cost of finished goods available for sale | Beginning finished goods inventory + Cost of goods manufactured | ||||||||
| Cost of finished goods available for sale | 1950+16420 | ||||||||
| Cost of finished goods available for sale | $18,370 | ||||||||
| 6 | |||||||||
| Cost of goods sold | Beginning finished goods inventory + Cost of goods manufactured - Ending finished goods inventory | ||||||||
| 16870 | 1950+16420 - Ending finished goods inventory | ||||||||
| Ending finished goods inventory | 1950+16420-16870 | ||||||||
| Ending finished goods inventory | $1,500 | ||||||||
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need explenation!
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step by step thank you 7) Here are selected data for Tyler Corporation: 2 Cost of...
step by step thank you
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need explenation!
QUESTION 1 Cost of goods purchased, cost of goods sold, and income statement. The following data are for Carolina Retail Outlet Stores. The account balances are for 2015. • Marketing and advertising costs, $22000, • Merchandise inventory, January, 1, 2015, $29500, • Shipping of merchandise to customers, $1230, • Building depreciation, $1540, • Purchases, $135300, • General administrative costs, $14000, • Merchandise inventory, December 31, 2015, $24000, • Merchandise freight in, $4620, • Purchase returns and allowances, $4510,...
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need explenation!
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step by step thank you
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