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Assume the following information pertaining to Moonbeam Company: Finished goods inventory Work in process inventory Direct...
Assume the following information pertaining to Moonbeam Company: Finished goods inventory Work in process inventory Direct...
Assume the following information pertaining to Moonbeam Company: Finished goods inventory Work in process inventory Direct materials Beginning $152,500 100,000 135,750 Ending $144,250 122,750 151, 750 Costs incurred during the period are as follows: Total manufacturing costs Factory overhead Direct materials used $926,000 214,000 168,750 Materials purchases are calculated to be: < Prev 15 of 31 ! Next e to search
$ Direct Materials Inventory Work in Process Inventory Finished Goods Inventory Manufacturing Overhead 8,700 76,500 53,000...
$ Direct Materials Inventory Work in Process Inventory Finished Goods Inventory Manufacturing Overhead 8,700 76,500 53,000 During the month of January, all of the following occurred. 1. Direct labor costs were $49,000 for 1,800 hours worked. 2. Direct materials costing $28,000 and indirect materials costing $3,900 were purchased 3. Sales commissions of $16,000 were earned by the sales force. 4. $20,000 worth of direct materials were used in production. 5. Advertising costs of $6,300 were incurred. 6. Factory supervisors earned...
$ Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw...
$ 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 1,892,000 37,000 54,300 64,100 151,800 248,000 20,900 49,000 5,250 52,000 90,000 134,000 46,300 45,100 69,280 Prepare its schedule of cost of goods manufactured for the current year...
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...
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...
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 $13,000 16,880 10,600 34,750 21,000 20.600 22,900 7.620 9,150 13,600 28,500 2,200 5.900 44,500 60,...
$ 87 118 1,650 Information on January 1 (Beginning): Direct materials inventory Work-in-process inventory Finished goods...
$ 87 118 1,650 Information on January 1 (Beginning): Direct materials inventory Work-in-process inventory Finished goods inventory Information for the year: Administrative costs Direct labor Direct materials purchases Factory and machine depreciation Factory supervision Factory utilities Indirect factory labor Indirect materials and supplies Marketing costs Property taxes on factory Sales revenue Information on December 31 (Ending): Direct materials inventory Work-in-process inventory Finished goods inventory $ 3,610 12,050 8,280 11,630 746 943 2,870 681 1,520 293 45,700 $ 91 129 1,430...
A company's overhead rate is 200% of direct labor cost. Using the following incomplete accounts, determine...
A company's overhead rate is 200% of direct labor cost. Using the following incomplete accounts, determine the cost of direct materials used. Work in Process Inventory 69,000 Beginning WIP Direct Materials Direct Labor Applied Overhead To Finished Goods Ending WIP 159,000 79,000 Factory Overhead 157,000 Finished Goods Inventory 59,000 284,000 54,000 Beginning FG 289,000 Ending FG Multiple Choice O $158,500 0 $55,500. 0 $289,000 $284,000. $299,000
The following balances are from the accounts of Tappan Parts: Direct materials inventory Work-in-process inventory Finished...
The following balances are from the accounts of Tappan Parts: Direct materials inventory Work-in-process inventory Finished goods inventory January 1 (Beginning) $ 21,500 32,900 5,800 December 31 (Ending) $ 25,200 28,800 7,000 Direct materials used during the year amount to $46,200 and the cost of goods sold for the year was $53,200. Required: Prepare a cost of goods sold statement. 32,900 TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Beginning work-in-process inventory Manufacturing costs: Direct...
$ 85 112 1,630 Information on January 1 (Beginning): Direct materials inventory Work-in-process inventory Finished goods...
$ 85 112 1,630 Information on January 1 (Beginning): Direct materials inventory Work-in-process inventory Finished goods inventory Information for the year: Administrative costs Direct labor Direct materials purchases Factory and machine depreciation Factory supervision Factory utilities Indirect factory labor Indirect materials and supplies Marketing costs Property taxes on factory Sales revenue Information on December 31 (Ending): Direct materials inventory Work-in-process inventory Finished goods inventory $ 3,660 12,950 8, 250 11,500 750 953 2,890 676 1,510 272 45,800 99 142 1,430...
Assume the following information pertaining to Moonbeam Company: Finished goods inventory Work in process inventory Direct materials Beginning $152,500 100,000 135,750 Ending $144,250 122,750 151, 750 Costs incurred during the period are as follows: Total manufacturing costs Factory overhead Direct materials used $926,000 214,000 168,750 Materials purchases are calculated to be: < Prev 15 of 31 ! Next e to search
$ Direct Materials Inventory Work in Process Inventory Finished Goods Inventory Manufacturing Overhead 8,700 76,500 53,000 During the month of January, all of the following occurred. 1. Direct labor costs were $49,000 for 1,800 hours worked. 2. Direct materials costing $28,000 and indirect materials costing $3,900 were purchased 3. Sales commissions of $16,000 were earned by the sales force. 4. $20,000 worth of direct materials were used in production. 5. Advertising costs of $6,300 were incurred. 6. Factory supervisors earned...
$ 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 1,892,000 37,000 54,300 64,100 151,800 248,000 20,900 49,000 5,250 52,000 90,000 134,000 46,300 45,100 69,280 Prepare its schedule of cost of goods manufactured for the current year...
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...
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...
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 $13,000 16,880 10,600 34,750 21,000 20.600 22,900 7.620 9,150 13,600 28,500 2,200 5.900 44,500 60,...
$ 87 118 1,650 Information on January 1 (Beginning): Direct materials inventory Work-in-process inventory Finished goods inventory Information for the year: Administrative costs Direct labor Direct materials purchases Factory and machine depreciation Factory supervision Factory utilities Indirect factory labor Indirect materials and supplies Marketing costs Property taxes on factory Sales revenue Information on December 31 (Ending): Direct materials inventory Work-in-process inventory Finished goods inventory $ 3,610 12,050 8,280 11,630 746 943 2,870 681 1,520 293 45,700 $ 91 129 1,430...
A company's overhead rate is 200% of direct labor cost. Using the following incomplete accounts, determine the cost of direct materials used. Work in Process Inventory 69,000 Beginning WIP Direct Materials Direct Labor Applied Overhead To Finished Goods Ending WIP 159,000 79,000 Factory Overhead 157,000 Finished Goods Inventory 59,000 284,000 54,000 Beginning FG 289,000 Ending FG Multiple Choice O $158,500 0 $55,500. 0 $289,000 $284,000. $299,000
The following balances are from the accounts of Tappan Parts: Direct materials inventory Work-in-process inventory Finished goods inventory January 1 (Beginning) $ 21,500 32,900 5,800 December 31 (Ending) $ 25,200 28,800 7,000 Direct materials used during the year amount to $46,200 and the cost of goods sold for the year was $53,200. Required: Prepare a cost of goods sold statement. 32,900 TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Beginning work-in-process inventory Manufacturing costs: Direct...
$ 85 112 1,630 Information on January 1 (Beginning): Direct materials inventory Work-in-process inventory Finished goods inventory Information for the year: Administrative costs Direct labor Direct materials purchases Factory and machine depreciation Factory supervision Factory utilities Indirect factory labor Indirect materials and supplies Marketing costs Property taxes on factory Sales revenue Information on December 31 (Ending): Direct materials inventory Work-in-process inventory Finished goods inventory $ 3,660 12,950 8, 250 11,500 750 953 2,890 676 1,510 272 45,800 99 142 1,430...
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