Homework Answers
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| Answer 1 | ||
| Total Manufacturing costs | Amount $ | Amount $ |
| Direct materials used | 62,750.00 | |
| Direct Labor used | 16,400.00 | |
| Manufacturing Overhead | ||
| Factory supervisor salary | 12,000.00 | |
| Deprecation expense- factory building | 3,900.00 | |
| Indirect materials | 1,250.00 | |
| Total Manufacturing Overhead | 17,150.00 | |
| Total Manufacturing costs | 96,300.00 | |
| Note: Sales person salaries and depreciation on delivery equipment are selling expenses and not to be considered as manufacturing costs. | ||
| Answer 2 | ||
| Cost of goods sold | Amount $ | Amount $ |
| Beginning Finished goods inventory | 600.00 | |
| Cost of goods manufactured | 7,800.00 | |
| Cost of goods available for sale | 8,400.00 | |
| Less: Finished goods inventory, ending | 1,150.00 | |
| Cost of goods sold | 7,250.00 |
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Compute cost of goods sold using the following information: $ 10 points Finished goods inventory, beginning...
Compute cost of goods sold for the period using the following information. Finished goods inventory, beginning...
Compute cost of goods sold for the period using the following information. Finished goods inventory, beginning Work in process inventory, beginning Work in process inventory, ending Cost of goods manufactured Finished goods inventory, ending $345,000 83,500 72,300 918,700 283,600 points eBook Hint Print Cost of Goods Sold is Computed as: $ 345,000 Finished goods inventory, beginning References 345,000 $ 345,000 Cost of goods sold
2 Compute cost of goods sold using the following information: 12.5 points Finished goods inventory, beginning...
2 Compute cost of goods sold using the following information: 12.5 points Finished goods inventory, beginning Cost of goods manufactured Finished goods inventory, ending 960 6,600 1,150 eBook Cost of Goods Sold is Computed as: References Cost of goods sold 2 Compute cost of goods sold using the following information: 12.5 points Finished goods inventory, beginning Cost of goods manufactured Finished goods inventory, ending $ 960 6,680 1,150 eBook Cost of Goods Sold is Computed as: References Beginning finished goods...
Use the following data to determine the cost of goods manufactured: Beginning finished goods inventory $...
Use the following data to determine the cost of goods manufactured: Beginning finished goods inventory $ 12,700 Direct labor used 32,500 Beginning work in process inventory 9,100 General and administrative expenses 15,400 Direct materials used 42,400 Ending work in process inventory 10,900 Indirect labor 8,200 Ending finished goods inventory 11,400 Indirect materials 15,400 Depreciation—factory equipment 9,400
Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials...
Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Factory supplies used (indirect materials) Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending $ 1,115,000 36,000 51,600 67,500 158,200 235,000 22, 200 45,000 5,250 57,000 90,000 141,000 48,300 42,400 74,500 DELRAY MFG. Schedule of Cost of Goods Manufactured For Year Ended...
3 Compute the total manufacturing cost for a manufacturer with the following information for the month....
3 Compute the total manufacturing cost for a manufacturer with the following information for the month. 12.5 points Raw materials purchased Direct materials used Direct labor used Factory supervisor salary Salesperson commissions Depreciation expense-Factory building Depreciation expense-Delivery equipment Indirect materials $ 40,000 56,000 14,888 11,400 7,000 3,800 3,900 1,380 eBook References Total Manufacturing Cost is Computed as: Total manufacturing costs Sal Depreciation expense-Factory building Depreciation expense-Delivery equipment Indirect materials Total Manufacturing Cost is Computed as: Direct labor used in production...
1 Compute ending work in process inventory for a manufacturer with the following information. 12.5 points...
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...
4 Compute cost of goods sold for the period using the following information. 12.5 points Finished...
4 Compute cost of goods sold for the period using the following information. 12.5 points Finished goods inventory, beginning Work in process inventory, beginning Work in process inventory, ending Cost of goods manufactured Finished goods inventory, ending $364,000 87,000 76,500 938,500 289,000 eBook References Cost of Goods Sold is Computed as: Cost of goods sold $ Finished goods inventory, beginning Work in process inventory, beginning Work in process inventory, ending Cost of goods manufactured Finished goods inventory, ending Cost of...
Compute cost of goods sold using the following information: $ Finished goods inventory, beginning Cost of...
Compute cost of goods sold using the following information: $ Finished goods inventory, beginning Cost of goods manufactured Finished goods inventory, ending 800 4,200 1,150 Cost of Goods Sold is Computed as: Cost of goods sold $ 0 Compute cost of goods sold for the period using the following information. Finished goods inventory, beginning Work in process inventory, beginning Work in process inventory, ending Cost of goods manufactured Finished goods inventory, ending $ 370,000 85,000 74,100 961,300 298,000 Cost of...
Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory (direct materials) Rental...
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...
Compute the costs of products transferred from production to finished goods and cost of goods sold...
Compute the costs of products transferred from production to
finished goods and cost of goods sold
Sierra Company manufactures woven blankets and accounts for product costs using process costing. Data below are for its processing departments The following information is available regarding its May inventories Beginning Ending Raw materials inventory Work in process inventory Finished goods inventory Inventory Inventory S 65,000 $ 87,0e9 427,500531,ee 612,000 551,0ee The folowing additional Information describes the company's production actvities for May Raw materials purchases...
Compute cost of goods sold for the period using the following information. Finished goods inventory, beginning Work in process inventory, beginning Work in process inventory, ending Cost of goods manufactured Finished goods inventory, ending $345,000 83,500 72,300 918,700 283,600 points eBook Hint Print Cost of Goods Sold is Computed as: $ 345,000 Finished goods inventory, beginning References 345,000 $ 345,000 Cost of goods sold
2 Compute cost of goods sold using the following information: 12.5 points Finished goods inventory, beginning Cost of goods manufactured Finished goods inventory, ending 960 6,600 1,150 eBook Cost of Goods Sold is Computed as: References Cost of goods sold 2 Compute cost of goods sold using the following information: 12.5 points Finished goods inventory, beginning Cost of goods manufactured Finished goods inventory, ending $ 960 6,680 1,150 eBook Cost of Goods Sold is Computed as: References Beginning finished goods...
Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Factory supplies used (indirect materials) Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending $ 1,115,000 36,000 51,600 67,500 158,200 235,000 22, 200 45,000 5,250 57,000 90,000 141,000 48,300 42,400 74,500 DELRAY MFG. Schedule of Cost of Goods Manufactured For Year Ended...
3 Compute the total manufacturing cost for a manufacturer with the following information for the month. 12.5 points Raw materials purchased Direct materials used Direct labor used Factory supervisor salary Salesperson commissions Depreciation expense-Factory building Depreciation expense-Delivery equipment Indirect materials $ 40,000 56,000 14,888 11,400 7,000 3,800 3,900 1,380 eBook References Total Manufacturing Cost is Computed as: Total manufacturing costs Sal Depreciation expense-Factory building Depreciation expense-Delivery equipment Indirect materials Total Manufacturing Cost is Computed as: Direct labor used in production...
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...
4 Compute cost of goods sold for the period using the following information. 12.5 points Finished goods inventory, beginning Work in process inventory, beginning Work in process inventory, ending Cost of goods manufactured Finished goods inventory, ending $364,000 87,000 76,500 938,500 289,000 eBook References Cost of Goods Sold is Computed as: Cost of goods sold $ Finished goods inventory, beginning Work in process inventory, beginning Work in process inventory, ending Cost of goods manufactured Finished goods inventory, ending Cost of...
Compute cost of goods sold using the following information: $ Finished goods inventory, beginning Cost of goods manufactured Finished goods inventory, ending 800 4,200 1,150 Cost of Goods Sold is Computed as: Cost of goods sold $ 0 Compute cost of goods sold for the period using the following information. Finished goods inventory, beginning Work in process inventory, beginning Work in process inventory, ending Cost of goods manufactured Finished goods inventory, ending $ 370,000 85,000 74,100 961,300 298,000 Cost of...
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...
Compute the costs of products transferred from production to
finished goods and cost of goods sold
Sierra Company manufactures woven blankets and accounts for product costs using process costing. Data below are for its processing departments The following information is available regarding its May inventories Beginning Ending Raw materials inventory Work in process inventory Finished goods inventory Inventory Inventory S 65,000 $ 87,0e9 427,500531,ee 612,000 551,0ee The folowing additional Information describes the company's production actvities for May Raw materials purchases...
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