Cost of goods manufacture = Total manufacturing cost +beginning Work in process - ending Work in process
$8,000 = Total manufacturing cost +$14,000 - 20,000
Therefore Total manufacturing cost = $20000+8000 - 14000 = $14,000
Direct material used = Total manufacturing cost - Factory overhead - Direct labor costs
Direct material used = $14,000 - 8,000 - 4,000 = $2,000
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Given the following data: Work in process, beginning $14,000 Work in process, ending 20,000 Direct labor costs 4,000 Cost of goods manufactured 8,000 Factory overhead 8,000 Direct materials used is a.$4,000 b.$8,000 c.$14,000 d.$2,000
1. Which of the following costs are conversion costs? a. direct materials cost and factory overhead cost b. direct labor cost and factory overhead cost c. factory overhead cost d. direct materials cost and direct labor cost 2. Given the following data: Work in process, beginning $14,000 Work in process, ending 20,000 Direct labor costs 4,000 Cost of goods manufactured 8,000 Factory overhead 8,000 Direct materials used is a. $2,000 b. $4,000 c. $14,000 d. $8,000 3. Prime...
28 of 75 MULTIPLE CHOICE Given the following data: Cost of materials used Direct labor costs Factory overhead Work in process, beginning Work in process, ending Finished goods, beginning Finished goods, ending $45,000 48,000 39,000 28,000 18,000 28,000 18,000 What is the cost of goods sold? a. $152,000 b. $142,000 C. $10,000 d. $128,000 А Type here to search 30 of 75 MULTIPLE CHOICE Given the following data: Work in process, beginning Work in process, ending Direct labor costs Cost...
Payton Corporation provided the following information for the year. Beginning Balance-Work-in-Process Inventory Ending Balance-Work-in-Process Inventory Beginning Balance-Direct Materials Ending Balance—Direct Materials Purchases-Direct Materials Direct Labor Indirect Labor Depreciation on Factory Plant and Equipment Plant Utilities and Insurance $28,000 55,000 84,000 60,000 356,000 470,000 20,000 24,000 269,000 What was the amount of the cost of goods manufactured for the year? O A. $1,366,000 OB. $1,136,000 OC. $1,190,000 OD $1,163,000
Quinton Corporation provided the following information for the year. Beginning Balance-Work-in-Process Inventory Ending Balance-Work-in-Process Inventory Beginning Balance-Direct Materials Ending Balance-Direct Materials Purchases-Direct Materials Direct Labor Indirect Labor Depreciation on Factory Plant and Equipment Plant Utilities and Insurance $27,000 56,000 80,000 60,000 361,000 469,000 20,000 23,000 268,000 What was the total manufacturing costs incurred during the year? O A. $1,161,000 OB. $850,000 OC. $692,000 OD. $311,000
Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory (direct materials) Rental cost on factory equipment Direct labor Ending finished goods inventory Ending work in process inventory Ending raw materials inventory Factory utilities Factory supplies used (indirect materials) General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net Garcon Company $ 13,400 16,000 7,700 32,250 23,600 20,900 26, 200 5,500 10,500 9,700 28,500 2,100 4,700...
Concord Corporation has beginning and ending work in process inventories of $170000 and $185000 respectively. If total manufacturing costs are $680000, what is the total cost of goods manufactured? O $850000. O $665000. $865000. $695000. Given the following data for Concord Corporation, compute cost of goods manufactured: Direct materials used $120000 Beginning work in process $20000 Direct labor 100000 Ending work in process 10000 Manufacturing 80000 Beginning finished goods 25000 overhead Operating expenses 75000 Ending finished goods 15000 $300000 $320000...
Beginning work in process inventory Ending work in process inventory Direct materials used Direct labor used Total factory overhead $ 37,900 39,300 167,000 105,000 83,100 Stellar Corporation's cost of goods manufactured for the year is: Multiple Choice O $355,100. 3055,100 $356,500 O 8 O $393,000 O O $315,800 O $353,700
1 Compute ending work in process inventory for a manufacturer with the following information. 12.5 points Raw materials purchased Direct materials used Direct labor used Total factory overhead Work in process inventory, beginning of year Cost of goods manufactured $139,800 82,600 58,000 109,000 28,800 228,400 eBook References Ending Work in Process Inventory is Computed as: Total manufacturing costs Total cost of work in process Work in process inventory, end of year Compute ending work in process inventory for a manufacturer...
When Job 117 was completed, direct materials totaled $42,754; direct labor, $54,414; and factory overhead, $32,390. A total of 3,926 units were produced at a per-unit cost of On: 533 Ob 53,926 Oc. $129,558 Od 597,166 Smith Company reports the following information: $68,250 Cost of goods manufactured Direct materials used Direct labor incurred Work in process inventory, January 1 27,000 25,000 11,000 Factory overhead is 75% of the cost of direct labor. Work in process inventory on December 31 is...