Compute for the following
Compute for the following
Cost of goods manufactured
Prime cost charged to Work in Process
Conversion cost charged to Work in Process
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O’Reilly Manufacturing Co.’s cost of goods sold for the month ended July 31 was $345,000. The...
O’Reilly Manufacturing Co.’s cost of goods sold for the month
ended July 31 was $345,000. The ending work in process inventory
was 90% of the beginning work in process inventory. Factory
overhead was 50% of the direct labor cost. No indirect materials
were used during the period. Other information pertaining to
O’Reilly’s inventories and production for July is as follows:
REQUIRED:
1. Prepare a statement of cost of goods manufactured for the month
of July. (Hint: Set up a statement...
23) Assume the following information pertaining to Cub Company: Prime costs charged to jobs during 2018...
23) Assume the following information pertaining to Cub Company: Prime costs charged to jobs during 2018 $195,000 Conversion costs charged to jobs during 2018 225,000 Direct materials charged to jobs during 2018 | 85,000 |Jan 1, 2018: work in process 100,000 Dec. 31, 2018: work in process 80,000 What is Cub's 2018 cost of goods manufactured? A) $330,000. B) $440,000. C) $290,000. D) $300,000. E) $355,000.
The following information comes from the accounting records for Chelsea, Inc., for May. Direct materials inventory,...
The following information comes from the accounting records for Chelsea, Inc., for May. Direct materials inventory, May 1 Direct materials inventory, May 31 Work-in-process inventory, May 1 Work-in-process inventory, May 31 Finished goods inventory, May 1 Finished goods inventory, May 31 Direct materials purchased during May Direct labor costs, May Manufacturing overhead, May $ 17,600 15,600 9,000 5,600 53,300 72,000 83,200 60, 700 79,800 Required: a. Compute the total prime costs for the month of May. b. Compute the total...
The following information comes from the accounting records for Chelsea, Inc., for May. Direct materials inventory,...
The following information comes from the accounting records for Chelsea, Inc., for May. Direct materials inventory, May 1 Direct materials inventory, May 31 Work-in-process inventory, May 1 Work-in-process inventory, May 31 Finished goods inventory, May 1 Finished goods inventory, May 31 Direct materials purchased during May Direct labor costs, May Manufacturing overhead, May $ 18,500 15,800 8,600 6, 200 53,200 72,500 83,400 60,500 79,700 Required: a. Compute the total prime costs for the month of May. b. Compute the total...
1. Prepare a statement of cost of goods manufactured for the month of July. (Hint: Set...
1. Prepare a statement of cost of goods manufactured
for the month of July. (Hint: Set up a statement of cost of goods
manufactured, potting the given information in the appropriate
spaces and solving for the unknown information. Start by using cost
of goods sold to solve for the cost of goods manufactured.
2. Prepare a schedule to compute the prime cost
incurred during July.
3. Prepare a schedule to compute the conversion cost
charged to Work in Process during...
Please show explanation, thanks Group Problem 3 Unknowns, T-accounts, Schedules Company's cost of goods sold for...
Please show explanation, thanks
Group Problem 3 Unknowns, T-accounts, Schedules Company's cost of goods sold for the month ended March 31, 2003, was $345.000. process inventory was 90% of beginning work in process inventory. Factory overhead was 50% of direct labor cost. Other information pertaining to Mat Company's inventories and production for the month of March is as follows: Beginning inventories-March 1 Direct materials Work in process Finished goods Purchases of direct materials during March Ending inventories-March 31 Direct materials...
U U Billuule to compute the conversion cost charged to Work in Process during July. 1-9...
U U Billuule to compute the conversion cost charged to Work in Process during July. 1-9 Data analysis; manufacturing statement Glasson Manufacturing Co, produces only one product. You have obtained the following information from the corporation's books and records for the current year ended December 31, 2016: a. Total manufacturing cost during the year was $1,000,000, including direct materials, direct labor, and factory overhead. b. Cost of goods manufactured during the year was $970,000. c. Factory Overhead charged to Work...
Jack Co. produces, and sells CPA review courses for individual use. The following information is provided:...
Jack Co. produces, and sells CPA review courses for individual use. The following information is provided: Conversion cost was $360,000 and was four times the prime cost Direct materials used in production equaled $75,000 Cost of goods manufactured was $415,000 Beginning work in process is one-half the cost of ending work in process There are no beginning or ending inventories for direct materials Cost of goods sold was 90 percent of cost of goods manufactured Beginning finished goods inventory was...
Jack Co. creates, produces, and sells CPA review courses for individual use. The following information is...
Jack Co. creates, produces, and sells CPA review courses for individual use. The following information is provided: Conversion cost was $360,000 and was four times the prime cost Direct materials used in production equaled $75,000 Cost of goods manufactured was $415,000 Beginning work in process is one-half the cost of ending work in process There are no beginning or ending inventories for direct materials Cost of goods sold was 90 percent of cost of goods manufactured Beginning finished goods inventory...
The controller at Lawrence Components asks for your help in sorting out some cost information. She...
The controller at Lawrence Components asks for your help in sorting out some cost information. She is called to a meeting, but hands you the following information for April Prime costs, April Total manufacturing costs, April Cost of goods manufactured, April Cost of goods sold, April Direct materials inventory, April 30 Work-in-process inventory, April 1 Finished goods inventory, April 30 Direct materials purchased, April Direct labor costs, April $ 150,000 275,000 267,000 219,000 15,400 9,700 79,000 78,000 51,000 Required: a....
O’Reilly Manufacturing Co.’s cost of goods sold for the month
ended July 31 was $345,000. The ending work in process inventory
was 90% of the beginning work in process inventory. Factory
overhead was 50% of the direct labor cost. No indirect materials
were used during the period. Other information pertaining to
O’Reilly’s inventories and production for July is as follows:
REQUIRED:
1. Prepare a statement of cost of goods manufactured for the month
of July. (Hint: Set up a statement...
23) Assume the following information pertaining to Cub Company: Prime costs charged to jobs during 2018 $195,000 Conversion costs charged to jobs during 2018 225,000 Direct materials charged to jobs during 2018 | 85,000 |Jan 1, 2018: work in process 100,000 Dec. 31, 2018: work in process 80,000 What is Cub's 2018 cost of goods manufactured? A) $330,000. B) $440,000. C) $290,000. D) $300,000. E) $355,000.
The following information comes from the accounting records for Chelsea, Inc., for May. Direct materials inventory, May 1 Direct materials inventory, May 31 Work-in-process inventory, May 1 Work-in-process inventory, May 31 Finished goods inventory, May 1 Finished goods inventory, May 31 Direct materials purchased during May Direct labor costs, May Manufacturing overhead, May $ 17,600 15,600 9,000 5,600 53,300 72,000 83,200 60, 700 79,800 Required: a. Compute the total prime costs for the month of May. b. Compute the total...
The following information comes from the accounting records for Chelsea, Inc., for May. Direct materials inventory, May 1 Direct materials inventory, May 31 Work-in-process inventory, May 1 Work-in-process inventory, May 31 Finished goods inventory, May 1 Finished goods inventory, May 31 Direct materials purchased during May Direct labor costs, May Manufacturing overhead, May $ 18,500 15,800 8,600 6, 200 53,200 72,500 83,400 60,500 79,700 Required: a. Compute the total prime costs for the month of May. b. Compute the total...
1. Prepare a statement of cost of goods manufactured
for the month of July. (Hint: Set up a statement of cost of goods
manufactured, potting the given information in the appropriate
spaces and solving for the unknown information. Start by using cost
of goods sold to solve for the cost of goods manufactured.
2. Prepare a schedule to compute the prime cost
incurred during July.
3. Prepare a schedule to compute the conversion cost
charged to Work in Process during...
Please show explanation, thanks
Group Problem 3 Unknowns, T-accounts, Schedules Company's cost of goods sold for the month ended March 31, 2003, was $345.000. process inventory was 90% of beginning work in process inventory. Factory overhead was 50% of direct labor cost. Other information pertaining to Mat Company's inventories and production for the month of March is as follows: Beginning inventories-March 1 Direct materials Work in process Finished goods Purchases of direct materials during March Ending inventories-March 31 Direct materials...
U U Billuule to compute the conversion cost charged to Work in Process during July. 1-9 Data analysis; manufacturing statement Glasson Manufacturing Co, produces only one product. You have obtained the following information from the corporation's books and records for the current year ended December 31, 2016: a. Total manufacturing cost during the year was $1,000,000, including direct materials, direct labor, and factory overhead. b. Cost of goods manufactured during the year was $970,000. c. Factory Overhead charged to Work...
The controller at Lawrence Components asks for your help in sorting out some cost information. She is called to a meeting, but hands you the following information for April Prime costs, April Total manufacturing costs, April Cost of goods manufactured, April Cost of goods sold, April Direct materials inventory, April 30 Work-in-process inventory, April 1 Finished goods inventory, April 30 Direct materials purchased, April Direct labor costs, April $ 150,000 275,000 267,000 219,000 15,400 9,700 79,000 78,000 51,000 Required: a....
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