Homework Answers
Ex: Determine the Ending RM Inventory, "Total Manufacturing Costs, COGM, and Ending FG Inv. $1,500,000 COGM...
Ex: Determine the Ending RM Inventory, "Total Manufacturing Costs, COGM, and Ending FG Inv. $1,500,000 COGM Ending FG Inv. 74,000 39,000 198,000 67,000 195,000 101,200 26,000 63,000 Sales. Factory Maintenance..... Indirect Labour... Raw materials purchased. Factory Utilities. Raw materials used in production.... General and administrative expenses... Beginning WIP inventory.... Beginning FG inventory.... Ending WIP inventory.. Beginning RM inventory....... Selling expenses.... Direct labour...... Factory insurance..... Indirect materials... Depreciation, factory.. Cost of goods sold..... 34,000 13,000 97,600 283,000 49,000 37,600 60,000 805,000...
Determine the Ending RM Inventory, Total Manufacturing Costs, COGM, and Ending FG Inventory Sales.. Ending RM...
Determine the Ending RM Inventory, Total Manufacturing Costs, COGM, and Ending FG Inventory Sales.. Ending RM Inv. TMC ...$1,500,000 Factory Maintenance. 74,000 Indirect Labour.... 39,000 Raw materials purchased... 198,000 Factory Utilities... 67,000 Raw materials used in production.. 195,000 General and administrative expenses.... 101,200 Beginning WIP inventory.. 26,000 Beginning FG inventory.. 63,000 Ending WIP inventory........ 34,000 Beginning RM inventory... 13,000 Selling expenses.. 97,600 Direct labour.. 283,000 Factory insurance. 49,000 Indirect materials..... 37,600 Depreciation, factory....... 60,000 Cost of goods sold... 805,000 EUR...
6. Poor Professor Mullen (PPM), Inc. has $20,000 of ending finished goods (EI, FG) inventory as...
6. Poor Professor Mullen (PPM), Inc. has $20,000 of ending finished goods (EI, FG) inventory as of December 31, 2015. If beginning finished goods (BI, FG) inventory was $10,000 and cost of goods sold (CGS) was $40,000, how much would Poor Professor Mullen, Inc report for cost of goods manufactured (CGM) ? A) $45,000 B) $10,000 C) $50,000 D) $30,000 7. Lao Shu Mullen, Inc's accounting records reflect the following inventories: Jan 1, 2015 (BI) $120,000 156,000 150,000 Dec.31, 2015...
Work in Process (WIP) P April 30 RM purchases Raw Materials (RM) 42,000 180.000 222.000 April...
Work in Process (WIP) P April 30 RM purchases Raw Materials (RM) 42,000 180.000 222.000 April 30 Finished Goods (FG) 63.000 28.100 Indirect materials Indirect labor Factory Overhead 10,000 34.500 Cost of goods sold Other overhead costs 93,500 34.900 126.000 May 31 Underapplied OH 138.000 Income statement (partial) $ 0 JOD Order Cosury system. April 30 May 31 $ $42.000 9,100 63,000 56,000 19,700 34,900 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials...
Beck Manufacturing reports the information below for 2017. Begin. Inv. Purchases Avail. for use 50,000 End....
Beck Manufacturing reports the information below for 2017. Begin. Inv. Purchases Avail. for use 50,000 End. Inv. Raw Materials Inventory 11,700 54,000 65, 700 DM used 15,700 Work in Process Inventory 14, 200 50,000 28,700 69,500 162,400 Cost of goods mfg 14,200 Begin. Inv. DM used Direct labor Overhead Avail. for mfg. 148,200 End. Inv. Begin. Inv. Cost of goods mfg Avail. for sale Finished Goods Inventory 18,400 148, 200 166,600 Cost of Goods Sold 20,000 146,600 End. Inv. Required:...
Using the below information from Pennington Corp., prepare a schedule of cost of goods manufactured and...
Using the below information from Pennington Corp., prepare a schedule of cost of goods manufactured and a schedule of cost of goods sold. Assume Pennington closed underapplied or overapplied Overhead to Cost of Goods Sold. Sales $500,000 Direct Labor $125,000 Raw Material Purchases $300,000 Selling Expense $ 30,000 Administrative Expenses $125,000 Man OH applied to WIP $145,000 Actual Man OH $150,000 Inventories: Beginning Ending Raw Materials $15,000 $16,000 Work in Process $25,000 $15,000 Finished Goods $10,000 $12,000
12. Caspar Co. had the following balances in 2017: Account Balance Beginning Raw Materials Inventory $5,000...
12. Caspar Co. had the following balances in 2017: Account Balance Beginning Raw Materials Inventory $5,000 Ending Raw Materials Inventory $7,000 Purchases of Raw Materials $60,000 Beginning WIP Inventory $15,000 Ending WIP Inventory $18,000 Beginning FG Inventory $3,000 Ending FG Inventory $8,000 Direct Labor $45,000 Overhead (including $2,000 of Indirect Materials) $35,000 Calculate the following: a. Raw Materials Available for Use: b. Direct Materials Used: c. Total Manufacturing Costs: d. Cost of Goods Manufactured: e. Cost of Goods Sold:
6. Poor Professor Mullen (PPM) Ine hae $20.000 of ending finished goods (EI, FG) inventory as...
6. Poor Professor Mullen (PPM) Ine hae $20.000 of ending finished goods (EI, FG) inventory as of December 31, 2015. If beginning finished coods (BIFG) inventory was $10,000 and cost of goods sold (CGS) was $40.000, how much would Poor Professor Mullen, Inc report for cost of goods manufactured (CGM)? A) $45,000 B) $10,000 C) $50,000 D) $30,000 7. Lao Shu Mullen, Ine's accounting records reflect the following inventories: -_Jan 1. 2015 (BI) Dec.31. 2015 (ET) Raw materials inventory (RM)...
QUESTION 2 The following information is available for Siler Company Sd Bhd.: Credit Debit RM 20,000...
QUESTION 2 The following information is available for Siler Company Sd Bhd.: Credit Debit RM 20,000 Common Stock Retained Earnings RM 30,000 Dividends RM 32,000 Sales 510,000 Sales Returns and Allowances 7,000 20,000 Sales Discounts Cost of Goods Sold 347,000 Freight-out 2,000 Advertising Expense Interest Expense 15,000 19,000 Store Salaries Expense Utilities Expense Depreciation Expense 45,000 18,000 7,000 25,000 Interest Revenue REQUIRED: Using the above information, prepare the closing entries for Siler Company Sdn. Bhd.
Problem 3 J.V. Company prepared the following end-of period spreadsheet at December 31, 2019, the end of the fisc...
Problem 3 J.V. Company prepared the following end-of period spreadsheet at December 31, 2019, the end of the fiscal year G Hi B C D E Unadjusted Trial Balance Debit 40,000 Adjusting Entries Credit Adjusted Trial Balance 1 Debit Credit Credit Debit 2 ఉ0 3 Cash 35,000 4 Accounts Receivable 5 Prepaid Insurance 6 Supplies 7 Land 15,000 20,000 a 4,000 11,000 15,000- 80,000- 150.000 20,000 60,000 150,000 200,000 200,000 8 Building 9 Accum. Depr.-Building 10 Accounts Payable 11 Wages...
Ex: Determine the Ending RM Inventory, "Total Manufacturing Costs, COGM, and Ending FG Inv. $1,500,000 COGM Ending FG Inv. 74,000 39,000 198,000 67,000 195,000 101,200 26,000 63,000 Sales. Factory Maintenance..... Indirect Labour... Raw materials purchased. Factory Utilities. Raw materials used in production.... General and administrative expenses... Beginning WIP inventory.... Beginning FG inventory.... Ending WIP inventory.. Beginning RM inventory....... Selling expenses.... Direct labour...... Factory insurance..... Indirect materials... Depreciation, factory.. Cost of goods sold..... 34,000 13,000 97,600 283,000 49,000 37,600 60,000 805,000...
Determine the Ending RM Inventory, Total Manufacturing Costs, COGM, and Ending FG Inventory Sales.. Ending RM Inv. TMC ...$1,500,000 Factory Maintenance. 74,000 Indirect Labour.... 39,000 Raw materials purchased... 198,000 Factory Utilities... 67,000 Raw materials used in production.. 195,000 General and administrative expenses.... 101,200 Beginning WIP inventory.. 26,000 Beginning FG inventory.. 63,000 Ending WIP inventory........ 34,000 Beginning RM inventory... 13,000 Selling expenses.. 97,600 Direct labour.. 283,000 Factory insurance. 49,000 Indirect materials..... 37,600 Depreciation, factory....... 60,000 Cost of goods sold... 805,000 EUR...
Work in Process (WIP) P April 30 RM purchases Raw Materials (RM) 42,000 180.000 222.000 April 30 Finished Goods (FG) 63.000 28.100 Indirect materials Indirect labor Factory Overhead 10,000 34.500 Cost of goods sold Other overhead costs 93,500 34.900 126.000 May 31 Underapplied OH 138.000 Income statement (partial) $ 0 JOD Order Cosury system. April 30 May 31 $ $42.000 9,100 63,000 56,000 19,700 34,900 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials...
Beck Manufacturing reports the information below for 2017. Begin. Inv. Purchases Avail. for use 50,000 End. Inv. Raw Materials Inventory 11,700 54,000 65, 700 DM used 15,700 Work in Process Inventory 14, 200 50,000 28,700 69,500 162,400 Cost of goods mfg 14,200 Begin. Inv. DM used Direct labor Overhead Avail. for mfg. 148,200 End. Inv. Begin. Inv. Cost of goods mfg Avail. for sale Finished Goods Inventory 18,400 148, 200 166,600 Cost of Goods Sold 20,000 146,600 End. Inv. Required:...
12. Caspar Co. had the following balances in 2017: Account Balance Beginning Raw Materials Inventory $5,000 Ending Raw Materials Inventory $7,000 Purchases of Raw Materials $60,000 Beginning WIP Inventory $15,000 Ending WIP Inventory $18,000 Beginning FG Inventory $3,000 Ending FG Inventory $8,000 Direct Labor $45,000 Overhead (including $2,000 of Indirect Materials) $35,000 Calculate the following: a. Raw Materials Available for Use: b. Direct Materials Used: c. Total Manufacturing Costs: d. Cost of Goods Manufactured: e. Cost of Goods Sold:
6. Poor Professor Mullen (PPM) Ine hae $20.000 of ending finished goods (EI, FG) inventory as of December 31, 2015. If beginning finished coods (BIFG) inventory was $10,000 and cost of goods sold (CGS) was $40.000, how much would Poor Professor Mullen, Inc report for cost of goods manufactured (CGM)? A) $45,000 B) $10,000 C) $50,000 D) $30,000 7. Lao Shu Mullen, Ine's accounting records reflect the following inventories: -_Jan 1. 2015 (BI) Dec.31. 2015 (ET) Raw materials inventory (RM)...
QUESTION 2 The following information is available for Siler Company Sd Bhd.: Credit Debit RM 20,000 Common Stock Retained Earnings RM 30,000 Dividends RM 32,000 Sales 510,000 Sales Returns and Allowances 7,000 20,000 Sales Discounts Cost of Goods Sold 347,000 Freight-out 2,000 Advertising Expense Interest Expense 15,000 19,000 Store Salaries Expense Utilities Expense Depreciation Expense 45,000 18,000 7,000 25,000 Interest Revenue REQUIRED: Using the above information, prepare the closing entries for Siler Company Sdn. Bhd.
Problem 3 J.V. Company prepared the following end-of period spreadsheet at December 31, 2019, the end of the fiscal year G Hi B C D E Unadjusted Trial Balance Debit 40,000 Adjusting Entries Credit Adjusted Trial Balance 1 Debit Credit Credit Debit 2 ఉ0 3 Cash 35,000 4 Accounts Receivable 5 Prepaid Insurance 6 Supplies 7 Land 15,000 20,000 a 4,000 11,000 15,000- 80,000- 150.000 20,000 60,000 150,000 200,000 200,000 8 Building 9 Accum. Depr.-Building 10 Accounts Payable 11 Wages...
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