Homework Answers
For calculating the cost of the goods manufactured, we will first calculate the cost of direct materials used in production, as per below:
Cost of direct materials used in production = Beginning direct materials + Direct material purchases - Ending direct materials
Cost of direct materials used in production = $0 + $33000 - $7400 = $25600
Now we will prepare the cost of goods manufactured as below:
Cost of goods manufactured statement:
| Description | Amount |
| Cost of materials used | 25600 |
| Direct labor | 18500 |
| Indirect materials | 1400 |
| Indirect labor | 4300 |
| Depreciation - buildings | 3000 |
| Depreciation - machinery & equipment | 2200 |
| Utilities | 13650 |
| Total manufacturing cost | 68650 |
| Add: Beginning work in process | 0 |
| Less: Ending work in process | 0 |
| Cost of goods manufactured | 68650 |
Add Answer to:
3. The adjusted trial balance for Indy Furniture Company on November 30, the end of its first month or operation,...
The adjusted trial balance for Rochester Electronies, Inc. on November 30, the end of its firsat...
The adjusted trial balance for Rochester Electronies, Inc. on November 30, the end of its firsat month of operation, is as tollows Rochester Electronics, Inc. Trial Balance November 30, 2016 Cash Accounts Receivable $21,800 16,200 13,900 Materials. .。.. Building. Accumulated Depreciation-Building 7,400 $ 3,000 2,200 Accumulated Depreciation-Mach and Equip. Accounts Payable Payroll Capital Stock 8,900 422,550 68,300 42,450 Factory Overhead... Selling and Administrative Expenses 15,200 $504,950 $504,950 The general ledger reveals the following additio O Type here to search
Rochester Electronics, Inc. Statement of Cost of Goods Manufactured for the month end November 30, 2016...
Rochester Electronics, Inc. Statement of Cost of Goods
Manufactured for the month end November 30, 2016
ODULY PiULcUuuu. The adjusted trial balance for Rochester Electronics, Inc. on November 30, the end of its first month of operation, is as follows: $ 21,800 16,200 13,900 7400 300,000 Rochester Electronics, Inc. Trial Balance November 30, 2016 Cash .... ......................................... Accounts Receivable ............ Finished Goods... Work in Process ........... Materials.......... Building. Accumulated Depreciation-Building ...... Machinery and Equipment...... Accumulated Depreciation-Mach. and Equip. Accounts Payable...
P1-2 Cost of goods sold-merchandiser and manufacturer The following data were taken from the general ledgers...
P1-2 Cost of goods sold-merchandiser and manufacturer The following data were taken from the general ledgers and other sources of Gamma Manufacturing Inc. and Epsilon Merchandising Co. on April 30 of the current year: X Merchandise inventory, April 1 $ 38,000 Finished goods, April 1 67,000 Purchases..... 121,000 Cost of goods manufactured.. 287,000 Merchandise inventory, April 30. 33,000 Finished goods, April 30 61,000 Required: 1. Compute the cost of goods sold for Epsilon Merchandising Co., selecting the appropriate items from...
Furniture Company manufactures custom furniture only and uses a job order costing system to accumulate costs....
Furniture Company manufactures custom furniture only and uses a job order costing system to accumulate costs. This is Corbanzo’s first year of operation. Actual direct materials and direct labor costs are accumulated for each job, but a predetermined overhead rate is used to apply manufacturing overhead costs to individual jobs. Manufacturing overhead is applied on the basis of direct labor hours. In computing a predetermined overhead rate, the controller estimated that manufacturing overhead costs for the year would be $200,000...
The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and...
The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and other records of Leone Company. $ 683,000 Advertising expense Depreciation expense-Office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Inventories $ 32,700 7,600 Income taxes expense 11,000 Indirect labor 36,200 Miscellaneous production costs 117,700 Office salaries expense 9,000 Raw materials purchases 36,000 Rent expense-Office space Direct labor 258,300 59,400| 11,100 71,000| 933,000 26,000| 26,600 81,100| 36,900 Rent expense-Selling...
The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and...
The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and other records of Leone Company. Advertising expense Depreciation expense-Office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Inventories Raw materials, December 31, 2016 Raw materials, December 31, 2017 Work in process, December 31, 2016 Work in process, December 31, 2017 Finished goods, December 31, 2016 Finished goods, December 31, 2017 $ 27,000 Direct labor 8,700 Income taxes expense...
The following calendar year-end information is taken from the December 31, 2019, adjusted trial balance and...
The following calendar year-end information is taken from the
December 31, 2019, adjusted trial balance and other records of
Leone Company.
Required:
1. Prepare the company’s 2019 schedule of cost of
goods manufactured.
Advertising expense Depreciation expense-office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Inventories Raw materials, December 31, 2018 Raw materials, December 31, 2019 Work in process, December 31, 2018 Work in process, December 31, 2019 Finished goods, December 31, 2018 Finished...
The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and...
The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and other records of Leone Company. Advertising expense Depreciation expense-Office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Direct labor Indirect labor Miscellaneous production costs Office salaries expense Raw materials purchases* Rent expense-Office space Rent expense-Selling space Rent expense-Factory building Maintenance expense-Factory equipment Sales Sales salaries expense $ 28,750 7,250 8,600 33,550 102,600 7,350 33,000 675,480 56,875 8,425 63,000...
The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and...
The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and other records of Leone Company. Advertising expense Depreciation expense-office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Direct labor Indirect labor Miscellaneous production costs office salaries expense Rav materials purchases Rent expense-office space Rent expense-Selling space Rent expense-Factory building Maintenance expense-Factory equipment Sales Sales salaries expense 31,750 8,500 10,300 33,950 108,660 10,350 34,200 729,000 62,800 10,225 72,350 957,500...
The following calendar year-end information is taken from the December 31, 2019, adjusted trial balance and...
The following calendar year-end information is taken from the December 31, 2019, adjusted trial balance and other records of Leone Company Advertising expense Depreciation expense-office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used (indirect materials) Factory utilities Direct labor Indirect labor Miscellaneous production costs Office salaries expense Raw materials purchases (direct) Rent expense-Office space Rent expense-Selling space Rent expense-Factory building Maintenance expense-Factory equipment Sales Sales salaries expense $ 30,250 7,750 10,100 38,550 105,360 10,850 38, 400...
The adjusted trial balance for Rochester Electronies, Inc. on November 30, the end of its firsat month of operation, is as tollows Rochester Electronics, Inc. Trial Balance November 30, 2016 Cash Accounts Receivable $21,800 16,200 13,900 Materials. .。.. Building. Accumulated Depreciation-Building 7,400 $ 3,000 2,200 Accumulated Depreciation-Mach and Equip. Accounts Payable Payroll Capital Stock 8,900 422,550 68,300 42,450 Factory Overhead... Selling and Administrative Expenses 15,200 $504,950 $504,950 The general ledger reveals the following additio O Type here to search
Rochester Electronics, Inc. Statement of Cost of Goods
Manufactured for the month end November 30, 2016
ODULY PiULcUuuu. The adjusted trial balance for Rochester Electronics, Inc. on November 30, the end of its first month of operation, is as follows: $ 21,800 16,200 13,900 7400 300,000 Rochester Electronics, Inc. Trial Balance November 30, 2016 Cash .... ......................................... Accounts Receivable ............ Finished Goods... Work in Process ........... Materials.......... Building. Accumulated Depreciation-Building ...... Machinery and Equipment...... Accumulated Depreciation-Mach. and Equip. Accounts Payable...
P1-2 Cost of goods sold-merchandiser and manufacturer The following data were taken from the general ledgers and other sources of Gamma Manufacturing Inc. and Epsilon Merchandising Co. on April 30 of the current year: X Merchandise inventory, April 1 $ 38,000 Finished goods, April 1 67,000 Purchases..... 121,000 Cost of goods manufactured.. 287,000 Merchandise inventory, April 30. 33,000 Finished goods, April 30 61,000 Required: 1. Compute the cost of goods sold for Epsilon Merchandising Co., selecting the appropriate items from...
The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and other records of Leone Company. $ 683,000 Advertising expense Depreciation expense-Office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Inventories $ 32,700 7,600 Income taxes expense 11,000 Indirect labor 36,200 Miscellaneous production costs 117,700 Office salaries expense 9,000 Raw materials purchases 36,000 Rent expense-Office space Direct labor 258,300 59,400| 11,100 71,000| 933,000 26,000| 26,600 81,100| 36,900 Rent expense-Selling...
The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and other records of Leone Company. Advertising expense Depreciation expense-Office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Inventories Raw materials, December 31, 2016 Raw materials, December 31, 2017 Work in process, December 31, 2016 Work in process, December 31, 2017 Finished goods, December 31, 2016 Finished goods, December 31, 2017 $ 27,000 Direct labor 8,700 Income taxes expense...
The following calendar year-end information is taken from the
December 31, 2019, adjusted trial balance and other records of
Leone Company.
Required:
1. Prepare the company’s 2019 schedule of cost of
goods manufactured.
Advertising expense Depreciation expense-office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Inventories Raw materials, December 31, 2018 Raw materials, December 31, 2019 Work in process, December 31, 2018 Work in process, December 31, 2019 Finished goods, December 31, 2018 Finished...
The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and other records of Leone Company. Advertising expense Depreciation expense-Office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Direct labor Indirect labor Miscellaneous production costs Office salaries expense Raw materials purchases* Rent expense-Office space Rent expense-Selling space Rent expense-Factory building Maintenance expense-Factory equipment Sales Sales salaries expense $ 28,750 7,250 8,600 33,550 102,600 7,350 33,000 675,480 56,875 8,425 63,000...
The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and other records of Leone Company. Advertising expense Depreciation expense-office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Direct labor Indirect labor Miscellaneous production costs office salaries expense Rav materials purchases Rent expense-office space Rent expense-Selling space Rent expense-Factory building Maintenance expense-Factory equipment Sales Sales salaries expense 31,750 8,500 10,300 33,950 108,660 10,350 34,200 729,000 62,800 10,225 72,350 957,500...
The following calendar year-end information is taken from the December 31, 2019, adjusted trial balance and other records of Leone Company Advertising expense Depreciation expense-office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used (indirect materials) Factory utilities Direct labor Indirect labor Miscellaneous production costs Office salaries expense Raw materials purchases (direct) Rent expense-Office space Rent expense-Selling space Rent expense-Factory building Maintenance expense-Factory equipment Sales Sales salaries expense $ 30,250 7,750 10,100 38,550 105,360 10,850 38, 400...
Most questions answered within 3 hours.
-
1.) As the average hourly wage increases from
$22 per hour to $28 per hour, the...
asked 2 minutes from now -
One tablet of Tums contains 350.0 mg of CaCo3. If 4 tablets of
Tums is added...
asked 5 minutes ago -
Jason Allen is saving for an Australian vacation in three years.
He estimates that he will...
asked 26 minutes ago -
starting in the radial vein list in order all the vessels through
which an erythrocyte will...
asked 32 minutes ago -
Management at Work
As the training and development manager at the Litter*Bit*Better
Cat Litter Company, part...
asked 34 minutes ago -
What is the significance of the constraints in a physical model?
What part do distinct constraints...
asked 1 hour ago -
a student was diagnosed with myopia (nearshightedness). He can
comfortably read a newspaper when it is...
asked 1 hour ago -
Consider a 3m x 3m window in a house. The thermal conductivity
is reported to be...
asked 2 hours ago -
Why has California been the favorite destination of large number
of secondary migrants?
asked 2 hours ago -
Do not neglect the old for the new. The existing business must
not lose priority simply...
asked 5 hours ago -
Kylie is a single mom with two dependent children,
Tanner, age 7 and Olivia, age 11....
asked 7 hours ago -
Phosphorous + bromine = phosphorous tribromide. If 35.0 g of
bromine are reacted and 27.9 grams...
asked 8 hours ago