Homework Answers
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Mason bikes |
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Calculation of Direct material used |
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Direct material used |
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Beginning raw material inventory |
$ 4,700.00 |
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Plus: Purchase of Direct materials |
$ 16,000.00 |
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Import Duties |
$ 1,300.00 |
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Freight In |
$ 400.00 |
$ 17,700.00 |
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Total raw material available for use |
$ 22,400.00 |
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Less: Ending raw material inventory |
$ 1,200.00 |
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Direct material used |
$ 21,200.00 |
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Freight outward is not a cost relating to material but a selling cost.
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You are a new accounting intern at Mason Bikes. Your boss gives you the following information...
You are a new accounting intern at Tru Bikes. Your boss gives you the following information...
You are a new accounting intern at Tru Bikes. Your boss gives you the following information and asks you to compute the cost of direct materials used (assume that the company's raw materials inventory contains only direct materials). (Click the icon to view the information.) Tru Bikes Calculation of Direct Materials Used Data Table - Direct materials used: Plus: $ $ Import duties Beginning raw materials inventory Ending raw materials inventory Freight in Freight-out Purchases of direct materials 1.100 4,600...
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The following cost and inventory data are taken from the accounting records of Mason Company for the year just completed: $ 71,000 121,000 Costs incurred: Direct labour cost Purchases of raw materials Indirect labour Maintenance, factory equipment Advertising expense Insurance, factory equipment Sales salaries Rent, factory facilities Supplies Depreciation, office equipment Depreciation, factory equipment 30,500 6,100 91,000 910 51,000 24,500 4,700 3,600 21,500 Beginning of End of the Year the Year Inventories: Raw materials Work in process Finished goods $...
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i dont know how to solve what is in blank. please help mpute the cost of...
i dont know how to solve what is in blank. please help
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The following information is also available for 2020: (Click the icon to view the additional information.)...
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You are a new accounting intern at Tru Bikes. Your boss gives you the following information and asks you to compute the cost of direct materials used (assume that the company's raw materials inventory contains only direct materials). (Click the icon to view the information.) Tru Bikes Calculation of Direct Materials Used Data Table - Direct materials used: Plus: $ $ Import duties Beginning raw materials inventory Ending raw materials inventory Freight in Freight-out Purchases of direct materials 1.100 4,600...
The following cost and inventory data are taken from the accounting records of Mason Company for the year just completed: $ 71,000 121,000 Costs incurred: Direct labour cost Purchases of raw materials Indirect labour Maintenance, factory equipment Advertising expense Insurance, factory equipment Sales salaries Rent, factory facilities Supplies Depreciation, office equipment Depreciation, factory equipment 30,500 6,100 91,000 910 51,000 24,500 4,700 3,600 21,500 Beginning of End of the Year the Year Inventories: Raw materials Work in process Finished goods $...
Owl Bear's intern in the accounting department is trying to figure out its cost of goods manufactured. The books show a beginning inventory of 10,000 an ending inventory of 8,000 and cost of goods sold were 7,000. Can you help her? a. Yes, it is $11,000 b. Yes, it is $9,000 c. Yes, it is $5,000 d. No Ow tutorn Owl Bear's intern is very grateful you helped her in figuring out cost of goods sold but now she is...
E2-26A (book/static) Question Help Compute the Cost of Goods Manufactured and Cost of Goods Sold for West Nautical Company for the most recent year using the amounts described next. Assume that Raw Materials Inventory contains only direct materials. 囲(Click the icon to view the data.) Data Table Start the calculation for cost of goods manufactured by calculating the direct materials u West Nautical Company Calculation of Direct Materials Used For Current Year End of Year $ 11,500 Beginning End of...
CramTutoring 5. Owl Bear's intern is very grateful you helped her in figuring out cost of goods sold but now she is confused about how to figure out the raw materials purchased. She gives you the following information: Raw materials beginning inventory 10,000; ending inventory of 12,000; raw materials used 13,000 and finished goods of 7,000. Can you help her? a. Yes, it is 9,000 b. Yes, it is 11,000 c. Yes, it is 15,000 d. No, I didn't help...
ACC141 OM2 Managerial Accounting Homework: assign 1 - retail co Score: 0 of 1 pt 2 of 16 (4 complete) S2-12 (book/static) Given the following information for a retailer, compute the cost of goods sold. (Click the icon to view the data) Calculation of Cost of Goods Sold Cost of goods sold Plus: Less: Cost of goods sold Choose from any list or enter any number in the input fields and then click Check Answer X Х Data Table Ending...
i dont know how to solve what is in blank. please help
mpute the cost of Goods Manufactured and Cost of Goods Sold for Quality Acquatic Company for the most recent year using the amounts described next. Assume that Raw Materials Inventory contains only direct materials (Click the icon to view the data) ginning raw materials inventory 20,000 73,000 Purchases of direct materials aterials available for use 93,000 34,000 Data Table Ending raw materials inventory 59000 Beginning End of of...
ACC 85 Accounting for Income Taxes Comprehensive Example Your boss gives you the following information about Gunner Corporation and asks you to compute Gunner's tax provision for 2018 (see specific questions below): Book income before federal income taxes is $500,000 Book depreciation is $200,000 and MACRS depreciation is $300,000 Bad expense for book purposes is $20,000. Bad debt expense for tax purposes is $12,000 Included in book income is $50,000 of tax exempt bond interest. Book income includes $15,000 of...
The following information is also available for 2020: (Click the icon to view the additional information.) Huckvale Corporation manufactures custom cabinets for kitchens. It uses a normal-costing system with two direct cost categories—direct materials and direct manufacturing labor-and go indirect control manufacturing cuachand costs. It provi (Click the i Data Table X ons are not Present the required.) $ 40,000 59,000 $ $ 2,000 $ (a) $ Actual direct materials used Actual direct manufacturing labor costs paid in cash Indirect...
Polo T117-2 (similar to) Record the following joumal entries for Young Company: (Click the icon to view the transactions.) (Record debits first, then credits. Exclude explanations from any joumal entries.) 6. Purchased raw materials on account, $11,000. Date Accounts Debit Credit Raw Materials Inventory Accounts Payable 11,000 11,000 7. Used $6.000 in direct materials and $300 in indirect materials in production Accoun Credit Debit 6,000 Work-in-Process Inventory Manufacturing Overhead Raw Materials Inventory 300 6,300 3. Incurred $11,000 in labor costs,...
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