The following information is available for Barnes Company for the fiscal year ended December 31: Beginning...
The following information is available for Barnes Company for the fiscal year ended December 31:
| Beginning finished goods inventory in units | 0 | ||
| Units produced | 7,000 | ||
| Units sold | 5,100 | ||
| Sales | $ | 663,000 | |
| Materials cost | $ | 140,000 | |
| Variable conversion cost used | $ | 70,000 | |
| Fixed manufacturing cost | $ | 490,000 | |
| Indirect operating costs (fixed) | $ | 102,000 | |
The variable costing ending inventory is:
Homework Answers
Units produced = 7,000
Units sold = 5,100
Units in ending inventory = Units produced - Units sold
= 7,000 - 5,100
= 1,900
Valuation of ending inventory
| Material cost (140,000 x 1,900/7,000) | 38,000 |
| Variable conversion cost used (70,000 x 1,900/7,000) | 19,000 |
| Total cost | 57,000 |
The variable costing ending inventory is = $57,000
Kindly comment if you need further assistance. Thanks
Add Answer to:
The following information is available for Barnes Company for
the fiscal year ended December 31:
Beginning...
The following information is available for Barnes Company for the fiscal year ended December 31 Beginning...
The following information is available for Barnes Company for the fiscal year ended December 31 Beginning finished goods inventory in units Units produced Units sold Sales Materials cost Variable conversion cost used Fixed manufacturing cost Indirect operating costs (fixed) 7,400 5,300 $ 689,000 $ 148,000 $ 74,000 $ 592,000 $ 106,000 The variable costing ending inventory is:
The following information is available for Barnes Company for the fiscal year ended December 31: Beginning...
The following information is available for Barnes Company for the fiscal year ended December 31: Beginning finished goods inventory in units 0 Units produced 4,800 Units sold 4,000 Sales $400,000 Materials cost $96,000 Variable conversion cost used $48,000 Fixed manufacturing cost $72,000 Indirect operating costs (fixed)$80,000 The absorption costing ending inventory is:
The following information is available for Barnes Company for the fiscal year ended December 31: Beginning...
The following information is available for Barnes Company for the fiscal year ended December 31: Beginning finished goods inventory in units Units produced Units sold Sales Materials cost Variable conversion cost used Fixed manufacturing cost Indirect operating costs (fixed) 5,600 4,400 $ 1,056,000 $ 112,000 $ 56,000 $ 196,000 $ 82,000 The variable costing operating income is:
Saved The following information is available for Barnes Company for the fiscal year ended December 31:...
Saved The following information is available for Barnes Company for the fiscal year ended December 31: Beginning finished goods inventory in units Units produced Units sold Sales Materials cost Variable conversion cost used Fixed manufacturing cost Indirect operating costs (fixed) 7,800 5,500 $ 1,320,000 $ 156,000 $ 78,000 $ 702,000 $ 87,500 The variable costing operating income is:
Jackson Products Schedule of Cost of Goods Manufactured For the Year Ended December 31 (in thousands)...
Jackson Products Schedule of Cost of Goods Manufactured For the Year Ended December 31 (in thousands) Direct materials: Beginning inventory $17,000 Purchases of direct materials 70,000 Cost of direct materials available for use $87,000 Ending inventory (9,000) Direct materials used $ 78,000 Direct manufacturing labor 9,000 Indirect manufacturing costs: Indirect manufacturing labor $ 8,000 Supplies 1,000 Heat, light, and power 4,000 Depreciation -- plant building 2,000 Depreciation -- plant equipment 3,000 Miscellaneous 2,000 20,000 Manufacturing costs incurred during the period $107,000 Add:...
The following data relates to the Windlar Products Company for the fiscal year ended December 31:...
The following data relates to the Windlar Products Company for the fiscal year ended December 31: Direct Materials Inventory, Beginning $ 40 Direct Materials Inventory, Ending 30 Work-in-Process Inventory, Beginning 50 Work-in-Process Inventory, Ending 60 Finished Goods Inventory, Beginning 80 Finished Goods Inventory, Ending 90 Direct Materials Purchases 300 Direct Labor 40 Factory Overhead 150 Required: Prepare a statement of cost of goods manufactured.
The following data relates to the Biofuel Products Company for the fiscal year ended December 31:...
The following data relates to the Biofuel Products Company for the fiscal year ended December 31: Direct Materials Inventory, Beginning $40 Direct Materials Inventory, Ending 50 Work-in-Process Inventory, Beginning 55 Work-in-Process Inventory, Ending 45 Finished Goods Inventory, Beginning 70 Finished Goods Inventory, Ending 60 Direct Materials Purchases 310 Direct Labor 60 Factory Overhead 160 Required: Prepare a statement of cost of goods manufactured.
The following information is available for Dynatech, Inc. for the fiscal year ending December 31, 2017:...
The following information is available for Dynatech, Inc. for
the fiscal year ending December 31, 2017:
ber 31, 07 is available for Dynatech, Inc. for the f Beginning balance in Work in Process Inventory Ending balance in Work in Process Inventory Beginning balance in Finished Goods Inventory Ending balance in Finished Goods Inventory Direct material cost Direct labor cost Manufacturing overhead Selling and administrative expenses Sales $150,000 280,000 450,000 380,000 2,100,000 2,700,000 1,400,000 1,250,000 7,200,000 Prepare a schedule of cost...
Jackson Products Schedule of Cost of Goods Manufactured For the Year Ended December 31 (in thousands)...
Jackson Products Schedule of Cost of Goods Manufactured For the Year Ended December 31 (in thousands) Direct materials: Beginning inventory $17,000 Purchases of direct materials 70,000 Cost of direct materials available for use $87,000 Ending inventory (9,000) Direct materials used $ 78,000 Direct manufacturing labor 9,000 Indirect manufacturing costs: Indirect manufacturing labor $ 8,000 Supplies 1,000 Heat, light, and power 4,000 Depreciation -- plant building 2,000 Depreciation -- plant equipment 3,000 Miscellaneous 2,000 20,000 Manufacturing costs incurred during the period $107,000 Add:...
16) San Diego company has the following information available at the end of the fiscal year:...
16) San Diego company has the following information available at the end of the fiscal year: Finished goods inventory, January 1, 2015 12,000 units Finished goods inventory, December 31, 2015 14,000 units Work in process inventory, January 1, 2015 10,000 units Work in process inventory, December 31, 2015 11,000 units Raw materials inventory, January 1, 2015 1,000 units Raw materials inventory, December 31, 2015 5,000 units Actual fixed overhead cost rate $2.05 per unit Actual variable overhead cost rate $3.10...
The following information is available for Barnes Company for the fiscal year ended December 31 Beginning finished goods inventory in units Units produced Units sold Sales Materials cost Variable conversion cost used Fixed manufacturing cost Indirect operating costs (fixed) 7,400 5,300 $ 689,000 $ 148,000 $ 74,000 $ 592,000 $ 106,000 The variable costing ending inventory is:
The following information is available for Barnes Company for the fiscal year ended December 31: Beginning finished goods inventory in units Units produced Units sold Sales Materials cost Variable conversion cost used Fixed manufacturing cost Indirect operating costs (fixed) 5,600 4,400 $ 1,056,000 $ 112,000 $ 56,000 $ 196,000 $ 82,000 The variable costing operating income is:
Saved The following information is available for Barnes Company for the fiscal year ended December 31: Beginning finished goods inventory in units Units produced Units sold Sales Materials cost Variable conversion cost used Fixed manufacturing cost Indirect operating costs (fixed) 7,800 5,500 $ 1,320,000 $ 156,000 $ 78,000 $ 702,000 $ 87,500 The variable costing operating income is:
The following information is available for Dynatech, Inc. for
the fiscal year ending December 31, 2017:
ber 31, 07 is available for Dynatech, Inc. for the f Beginning balance in Work in Process Inventory Ending balance in Work in Process Inventory Beginning balance in Finished Goods Inventory Ending balance in Finished Goods Inventory Direct material cost Direct labor cost Manufacturing overhead Selling and administrative expenses Sales $150,000 280,000 450,000 380,000 2,100,000 2,700,000 1,400,000 1,250,000 7,200,000 Prepare a schedule of cost...
Most questions answered within 3 hours.
-
A college student is employed as a door-to-door newspaper
salesman. Historical data suggests that the student...
asked 49 minutes ago -
MATLAB HW 11 problem using Switch Case and Input commands
Write a script file that calculates...
asked 34 minutes ago -
Considering gravitational time dilation, calculate the time that
passes in Earth’s surface while 1 hour passes...
asked 1 hour ago -
Minitab Problem: Take the Lake Hume June rainfall data and find
use the processes outlined in...
asked 2 hours ago -
X Company is trying to decide whether to continue using old
equipment to make Product A...
asked 2 hours ago -
IN PYTHON ONLY !! Program 2: Re-work
program #5 (WeeklyHours) from the previous assignment such that...
asked 2 hours ago -
The average length of time between arrivals at a turnpike
toll-booth is 26 seconds. What is...
asked 4 hours ago -
(a) A piston at 6.1 atm contains a gas that occupies a volume of
3.5 L....
asked 5 hours ago -
Please answer true or false. Words
cannot be changed or added in to make it true...
asked 5 hours ago -
An empty test tube weighs 15.923 grams. Then,
MgCl2•6H2O is added into the test tube. After...
asked 5 hours ago -
Assume memory access is 10 units of time and disk access is
10000 units of time....
asked 5 hours ago -
1. Are all good samples random?
2. Magazines often report surveys giving statistics such as “63%...
asked 6 hours ago