Homework Answers
| 1 | ||
| Direct materials, beginning inventory | 30000 | |
| Add: Direct materials purchases | 254800 | |
| Less: Direct materials, ending inventory | -16400 | |
| Cost of direct materials used in production | 268400 | |
| 2 | ||
| Direct materials used | 268400 | |
| Direct labor cost | 166800 | |
| Overhead cost | 300000 | |
| Total manufacturing costs | 735200 | |
| Add: Work in Process, beginning inventory | 50000 | |
| Less: Work in Process, ending inventory | -23600 | |
| Cost of goods manufactured | 761600 | |
| Unit manufacturing cost | 19.04 | =761600/40000 |
| 3 | ||
| Unit manufacturing cost | 19.04 | |
| Less: Direct materials per unit | -6.71 | |
| Less: Overhead per unit | -7.50 | |
| Direct labor per unit | 4.83 | |
| Direct materials per unit | 6.71 | |
| Direct labor per unit | 4.83 | |
| Prime cost per unit | 11.54 | per unit |
| Direct labor per unit | 4.83 | |
| Overhead per unit | 7.50 | |
| Conversion cost per unit | 12.33 | per unit |
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Cost Definitions Wyandotte Company provided the following information for the last calendar year: Beginning inventory: Direct...
Direct Materials Cost, Prine Cost, Conversion Cost, Cost of Goods Marufactured Eilerson Company provided the folowing...
Direct Materials Cost, Prine Cost, Conversion Cost, Cost of Goods Marufactured Eilerson Company provided the folowing information for the last calendar year Beginning inventory Direct materials $67,000 Work in process 29,400 Finished goods 43,200 Ending inventory: Direct materials $70,400 Work in proces 40,000 Finished goods 42,100 During the year, direct materials purchases amounted to $275,000, drect labor cost was $189,000, and overhead cost was $525,000. During the year 100,000 units were completed Required 1. Calculate the total cost of direct...
Cost Definitions and Calculations For each of the following independent situations, calculate the missing values: 1....
Cost Definitions and Calculations For each of the following independent situations, calculate the missing values: 1. The Belen plant purchased $80,100 of direct materials during June. Beginning direct materials inventory was $2,700, and direct materials used in production were $73,900. What is ending direct materials inventory? $ 2. Forster Company produced 17,900 units at an average cost of $5.90 each. The beginning inventory of finished goods was $4,484. (The average unit cost was $5.90.) Forster sold 18,020 units. How many...
The following information is from ABC Company’s general ledger: Beginning and ending inventories, respectively, for raw...
The following information is from ABC Company’s general ledger:
Beginning and ending inventories, respectively, for raw materials
were $9,600 and $11,600 and for work in process were $21,600 and
$23,600. Raw material purchases and direct labor costs incurred
were $37,600 each, and manufacturing overhead applied amounted to
$21,600.
Required: Prepare a statement of cost of goods
manufactured for ABC Company. (Amounts to be deducted
should be indicated by a minus sign.)
The following information is from ABC Company's general ledger:...
List: Beginning raw materials inventory Beginning work in process inventory Cost of goods manufactured Direct labor...
List:
Beginning raw materials inventory
Beginning work in process inventory
Cost of goods manufactured
Direct labor
Ending raw materials inventory
Ending work in process inventory
Manufacturing overhead
Materials available for use
Purchases of direct materials
Total manufacturing costs incurred during the period
Total manufacturing costs to account for
Lawrence Industries is calculating its Cost of Goods Manufactured at year-end. Lawrence's accounting records show the following: The Raw Materials Inventory account had a beginning balance of $11,000 and an ending balance...
16. Reed Productions has provided the following information for the year Direct Labor Beginning Work- in-Process...
16. Reed Productions has provided the following information for the year Direct Labor Beginning Work- in-Process Inventory Direct Materials Used Ending Work-in- Process Inventory Manufacturing Overhead $153,000 62,000 269,000 52,350 130,500 During the year, Reed produced 70,900 units of product. Calculate the unit product cost. (Round your answer to the nearest cent.) OA $7.93 OB. $8.67 O C. $6.83 O D. $7.79
The following data is provided for Garcon Company and Pepper Company. Beginning finished goods inventory Beginning...
The following data is provided for Garcon Company and Pepper Company. 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...
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...
Required information [The following information applies to the questions displayed below.) The following calendar year-end information...
Required information [The following information applies to the questions displayed below.) 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 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 goods,...
Dude Company incurred the following costs while producing 520 units direct materials, 514 per un direct...
Dude Company incurred the following costs while producing 520 units direct materials, 514 per un direct labor $28 perunt variable manufacturing overhead. 518 per unit total fed manufacturing overhead costs. 58,840 variable selling and administrative costs $8 per un totaled selling and administrative costs 55200 There are no beginning inventories What is the unit product cost using variable costing? O A. $60 per unit OB. 595 per unit OC. 577 per una OD 568 per un
Prime Cost and Conversion Cost Slapshot Company makes ice hockey sticks. Last week, direct materials (wood,...
Prime Cost and Conversion Cost Slapshot Company makes ice hockey sticks. Last week, direct materials (wood, paint, Kevlar, and resin) costing $24,000 were put into production. Direct labor of $28,000 (10 workers x 100 hours x $28 per hour) was incurred. Manufacturing overhead equaled $52,000. By the end of the week, the company had manufactured 4,400 hockey sticks. 1. Calculate the total prime cost for last week. 2. Calculate the per-unit prime cost. Round your answer to the nearest cent....
Direct Materials Cost, Prine Cost, Conversion Cost, Cost of Goods Marufactured Eilerson Company provided the folowing information for the last calendar year Beginning inventory Direct materials $67,000 Work in process 29,400 Finished goods 43,200 Ending inventory: Direct materials $70,400 Work in proces 40,000 Finished goods 42,100 During the year, direct materials purchases amounted to $275,000, drect labor cost was $189,000, and overhead cost was $525,000. During the year 100,000 units were completed Required 1. Calculate the total cost of direct...
The following information is from ABC Company’s general ledger:
Beginning and ending inventories, respectively, for raw materials
were $9,600 and $11,600 and for work in process were $21,600 and
$23,600. Raw material purchases and direct labor costs incurred
were $37,600 each, and manufacturing overhead applied amounted to
$21,600.
Required: Prepare a statement of cost of goods
manufactured for ABC Company. (Amounts to be deducted
should be indicated by a minus sign.)
The following information is from ABC Company's general ledger:...
List:
Beginning raw materials inventory
Beginning work in process inventory
Cost of goods manufactured
Direct labor
Ending raw materials inventory
Ending work in process inventory
Manufacturing overhead
Materials available for use
Purchases of direct materials
Total manufacturing costs incurred during the period
Total manufacturing costs to account for
Lawrence Industries is calculating its Cost of Goods Manufactured at year-end. Lawrence's accounting records show the following: The Raw Materials Inventory account had a beginning balance of $11,000 and an ending balance...
16. Reed Productions has provided the following information for the year Direct Labor Beginning Work- in-Process Inventory Direct Materials Used Ending Work-in- Process Inventory Manufacturing Overhead $153,000 62,000 269,000 52,350 130,500 During the year, Reed produced 70,900 units of product. Calculate the unit product cost. (Round your answer to the nearest cent.) OA $7.93 OB. $8.67 O C. $6.83 O D. $7.79
The following data is provided for Garcon Company and Pepper Company. 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...
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...
Required information [The following information applies to the questions displayed below.) 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 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 goods,...
Dude Company incurred the following costs while producing 520 units direct materials, 514 per un direct labor $28 perunt variable manufacturing overhead. 518 per unit total fed manufacturing overhead costs. 58,840 variable selling and administrative costs $8 per un totaled selling and administrative costs 55200 There are no beginning inventories What is the unit product cost using variable costing? O A. $60 per unit OB. 595 per unit OC. 577 per una OD 568 per un
Prime Cost and Conversion Cost Slapshot Company makes ice hockey sticks. Last week, direct materials (wood, paint, Kevlar, and resin) costing $24,000 were put into production. Direct labor of $28,000 (10 workers x 100 hours x $28 per hour) was incurred. Manufacturing overhead equaled $52,000. By the end of the week, the company had manufactured 4,400 hockey sticks. 1. Calculate the total prime cost for last week. 2. Calculate the per-unit prime cost. Round your answer to the nearest cent....
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