Homework Answers
| A) | ||||
| Ending Inventory of RawMaterial | 15000 | |||
| Add: Used | 22900 | |||
| Less: Purchased | -28000 | |||
| Beginning inventory of Raw Material | 9900 | |||
| B) | ||||
| Cost of goods manufactured | 135000 | |||
| Add: Increase in WIP | 12000 | |||
| Total current cost of Manufacture | 147000 | |||
| Less: Material used | 22900 | |||
| Combined cost of Labour and Oh | 124100 | |||
| Labour cost = 124100 *100/250 = | 49640 | |||
| C) | ||||
| Factory overheads =49640 *150% = | 74460 | |||
| D) | ||||
| Cost of goods manufactured | 135000 | |||
| Add: Decrease in FG inventory | 18000 | |||
| Cost of goods sold | 153000 |
Add Answer to:
Sineath Industries had a fire and some of its accounting records were destroyed. Available information is...
Erickson Industries is calculating its Cost of Goods Manufactured at year-end. Erickson's accounting records show the...
Erickson Industries is calculating its Cost of Goods Manufactured at year-end. Erickson's accounting records show the following: The Raw Materials Inventory account had a beginning balance of $12,000 and an ending balance of $18,000. During the year, the company purchased $70,000 of direct materials. Direct labor for the year totaled $124,000, while manufacturing overhead amounted to $162,000. The Work in Process Inventory account had a beginning balance of $25,000 and an ending balance of $21,000. Assume that Raw Materials Inventory...
Conrad, Inc. recently lost a portion of its records in an office fire. The following information...
Conrad, Inc. recently lost a portion of its records in an office fire. The following information was salvaged from the accounting records. Cost of Goods Sold $ 65,000 Work-in-Process Inventory, Beginning 10,500 Work-in-Process Inventory, Ending 9,000 Selling and Administrative Expense 15,000 Finished Goods Inventory, Ending 15,000 Finished Goods Inventory, Beginning ? Direct Materials Used ? Factory Overhead Applied 12,000 Operating Income 14,000 Direct Materials Inventory, Beginning 11,000 Direct Materials Inventory, Ending 6,000 Cost of Goods Manufactured 60,000 Direct labor cost...
Donnyelle Industries is calculating its Cost of Goods Manufactured at year-end. Donnyelle's accounting records show the...
Donnyelle Industries is calculating its Cost of Goods Manufactured at year-end. Donnyelle's accounting records show the following: The Raw Materials Inventory account had a beginning balance of $18,000 and an ending balance of $21,000. During the year, the company purchased $58,000 of direct materials. Direct labor for the year totaled $116,000, while manufacturing overhead amounted to 5163,000. The Work in Process Inventory account had a beginning balance of S26,000 and an ending balance of 519,000. Assume that Raw Materials Inventory...
Conrad, Inc. recently lost a portion of its records in an office fire. The following information...
Conrad, Inc. recently lost a portion of its records in an office fire. The following information was salvaged from the accounting records. 30 $66,500 Cost of Goods Sold 11,100 9,300 15,750 Work-in-Process Inventory, Beginning Work-in-Process Inventory, Ending Selling and Administrative Expense Finished Goods Inventory, Ending Finished Goods Inventory, Beginning Direct Materials Used Skipped 15,825 Factory Overhead Applied Operating Income Direct Materials Inventory, Beginning Direct Materials Inventory, Ending 12,300 14,165 11,135 6,105 61,410 Cost of Goods Manufactured Direct labor cost incurred...
Conrad, Inc. recently lost a portion of its records in an office fire. The following information...
Conrad, Inc. recently lost a portion of its records in an office fire. The following information was salvaged from the accounting records. Cost of Goods Sold $ 69,500 Work-in-Process Inventory, Beginning 12,300 Work-in-Process Inventory, Ending 9,900 Selling and Administrative Expense 17,250 Finished Goods Inventory, Ending 17,475 Finished Goods Inventory, Beginning ? Direct Materials Used ? Factory Overhead Applied 12,900 Operating Income 14,495 Direct Materials Inventory, Beginning 11,405 Direct Materials Inventory, Ending 6,315 Cost of Goods Manufactured 64,230 Direct labor cost...
eston Help Justine Industries is calculating its Cost of Goods Manufactured at year-end. Justine's accounting records...
eston Help Justine Industries is calculating its Cost of Goods Manufactured at year-end. Justine's accounting records show the following. The Raw Materials Inventory account had a beginning balance of $15,000 and an ending balance of $12,000. During the year, the company purchased $59,000 of direct materials. Direct labor for the year totaled $115,000, while manufacturing overhead amounted to $155,000. The Work in Process Inventory account had a beginning balance of $30,000 and an ending balance of $21,000. Assume that Raw...
Prepare the schedule of cost of goods manufactured for Barton Company using the following information. Direct...
Prepare the schedule of cost of goods manufactured for Barton Company using the following information. Direct materials Direct labor Factory overhead costs Work in process, beginning Work in process, ending $ 242,500 73,000 28,000 160,000 144, 250 Barton Company Schedule of Cost of Goods Manufactured Total manufacturing costs Total cost of work in process Cost of goods manufactured $ Use the following information to compute the cost of direct materials used for the current year. Assume the raw materials inventory...
Goodrow Industries is calculating its Cost of Goods Manufactured at year-end. Goodrow's accounting records show the...
Goodrow Industries is calculating its Cost of Goods Manufactured at year-end. Goodrow's accounting records show the following: The Raw Materials Inventory account had a beginning balance of $15,000 and an ending balance of $13,000. During the year, the company purchased $55,000 of direct materials. Direct labor for the year totaled $116,000, while manufacturing overhead amounted to $162,000. The Work in Process Inventory account had a beginning balance of $24,000 and an ending balance of $23,000. Assume that Raw Materials Inventory...
The financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following...
The financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following information has been obtained from a separate set of books maintained by the cost accountant. The cost accountant now asks for your assistance in computing the missing amounts. Direct Materials Inventory Beg. Bal. 8,000 ? Transferred Out Purchases ? End. Bal. 6,400 Cost of Goods Sold 57,000 Work-in-Process Inventory Beg. Bal. 7,500 ? Transferred Out Materials 18,000 Labor 13,500 Overhead 8,000 End. Bal. ?...
Goodrow Industries is calculating its Cost of Goods Manufactured at year-end. Goodrow's accounting records show the...
Goodrow Industries is calculating its Cost of Goods Manufactured at year-end. Goodrow's accounting records show the following: The Raw Materials Inventory account had a beginning balance of $15,000 and an ending balance of $13,000. During the year, the company purchased $55,000 of direct materials. Direct labor for the year totaled $116,000, while manufacturing overhead amounted to $162,000. The Work in Process Inventory account had a beginning balance of $24,000 and an ending balance of $23,000. Assume that Raw Materials Inventory...
Erickson Industries is calculating its Cost of Goods Manufactured at year-end. Erickson's accounting records show the following: The Raw Materials Inventory account had a beginning balance of $12,000 and an ending balance of $18,000. During the year, the company purchased $70,000 of direct materials. Direct labor for the year totaled $124,000, while manufacturing overhead amounted to $162,000. The Work in Process Inventory account had a beginning balance of $25,000 and an ending balance of $21,000. Assume that Raw Materials Inventory...
Donnyelle Industries is calculating its Cost of Goods Manufactured at year-end. Donnyelle's accounting records show the following: The Raw Materials Inventory account had a beginning balance of $18,000 and an ending balance of $21,000. During the year, the company purchased $58,000 of direct materials. Direct labor for the year totaled $116,000, while manufacturing overhead amounted to 5163,000. The Work in Process Inventory account had a beginning balance of S26,000 and an ending balance of 519,000. Assume that Raw Materials Inventory...
Conrad, Inc. recently lost a portion of its records in an office fire. The following information was salvaged from the accounting records. 30 $66,500 Cost of Goods Sold 11,100 9,300 15,750 Work-in-Process Inventory, Beginning Work-in-Process Inventory, Ending Selling and Administrative Expense Finished Goods Inventory, Ending Finished Goods Inventory, Beginning Direct Materials Used Skipped 15,825 Factory Overhead Applied Operating Income Direct Materials Inventory, Beginning Direct Materials Inventory, Ending 12,300 14,165 11,135 6,105 61,410 Cost of Goods Manufactured Direct labor cost incurred...
eston Help Justine Industries is calculating its Cost of Goods Manufactured at year-end. Justine's accounting records show the following. The Raw Materials Inventory account had a beginning balance of $15,000 and an ending balance of $12,000. During the year, the company purchased $59,000 of direct materials. Direct labor for the year totaled $115,000, while manufacturing overhead amounted to $155,000. The Work in Process Inventory account had a beginning balance of $30,000 and an ending balance of $21,000. Assume that Raw...
Prepare the schedule of cost of goods manufactured for Barton Company using the following information. Direct materials Direct labor Factory overhead costs Work in process, beginning Work in process, ending $ 242,500 73,000 28,000 160,000 144, 250 Barton Company Schedule of Cost of Goods Manufactured Total manufacturing costs Total cost of work in process Cost of goods manufactured $ Use the following information to compute the cost of direct materials used for the current year. Assume the raw materials inventory...
Goodrow Industries is calculating its Cost of Goods Manufactured at year-end. Goodrow's accounting records show the following: The Raw Materials Inventory account had a beginning balance of $15,000 and an ending balance of $13,000. During the year, the company purchased $55,000 of direct materials. Direct labor for the year totaled $116,000, while manufacturing overhead amounted to $162,000. The Work in Process Inventory account had a beginning balance of $24,000 and an ending balance of $23,000. Assume that Raw Materials Inventory...
Goodrow Industries is calculating its Cost of Goods Manufactured at year-end. Goodrow's accounting records show the following: The Raw Materials Inventory account had a beginning balance of $15,000 and an ending balance of $13,000. During the year, the company purchased $55,000 of direct materials. Direct labor for the year totaled $116,000, while manufacturing overhead amounted to $162,000. The Work in Process Inventory account had a beginning balance of $24,000 and an ending balance of $23,000. Assume that Raw Materials Inventory...
Most questions answered within 3 hours.
-
Which of these four researchers is most likely to have made Type
1 error
Kim who...
asked 4 minutes ago -
Create ER Model
Assets are resources that are used in CMS to display content.
Each asset...
asked 3 minutes ago -
In a performance test, each of two cars takes 8.9 s to
accelerate from rest to...
asked 4 minutes ago -
Sapphire Aerospace operates 52 weeks per year, and its cost of
goods sold last year was...
asked 8 minutes ago -
A. Suppose your manager indicates that for a normally
distributed data set you are analyzing, your...
asked 8 minutes ago -
For each the following molecules draw the best possible
structure based on formal charges for each...
asked 9 minutes ago -
A proton moves in the plane of this paper toward the top of the
page. A...
asked 18 minutes ago -
different divisions differing lines of business use
different costs of capital because their cost of equity...
asked 14 minutes ago -
Give an algorithm to determine whether or not the elements
of
an array of integers are...
asked 21 minutes ago -
. Gravimetric analysis. The gravimetric analysis that we will
perform in lab occurs according to the...
asked 40 minutes ago -
Learning curve problem:
A company was ordered to make 6 custom made parts. the labor
costs...
asked 37 minutes ago -
When you don’t recall operator precedences you can Guess
Experiment with the compiler Look in a...
asked 40 minutes ago