Question

Exercise 14-11 Incomplete manufacturing cost data for Horizon Company for 2017 are presented as follows for four different situations. Indicate the missing amount for each letter Total Manufacturing Direct Direct Work in Work in Manufacturing Overhead Materials Used Labor Cost of Goods Process Process Used 12/31 Manufactured Costs 1/1 |(1) $121,600 $145,600 $89,900 (a) $35,200 (b) $363,000 $ $ (2) (c) (d) 473,900 204,200 136,200 455,900 44,800 |(3) (e) 267,200 83,200 (f) 82,700 104,100 65,900 (4) 73,100 g) 47,700 (h) 78,700 292,200 273,300

Answer 1

ДА В с direct materials used work in work in cost of goods progress 1/1 progress 12/31 manufactured $ 121,600 $ 115,500 $ 82,700 $ 73,100 total direct labor manufacturing manufacturing used overhead costs $ 145,600 $ 89,900 $ 357,100 $ 204,200 $ 136,200 $ 455,900 $ 104,100 $ 80,400 $ 267,200 $ 140,400 $78,700 $ 292,200 $ 35,200 $ 62,800 $ 65,900 $ 47,700 $ 29,300 $44,800 $ 83,200 $ 66,600 $363,000 $ 473,900 $ 249,900 $ 273,300 HORIZON COMPANY cost of goods manufactured schedule for the year ended December 31, 2017 work in progress 1/1 $ 35,200 direct materials used $ 121,600 direct labor used $ 145,600 manufacturing overhead $ 89,900 total manufacturing costs $ 357,100 total cost of work in progress $ 392,300 less: work in progress 12/31 $ 29,300 cost of goods manufactured $363,000

for formulas and calculations, refer to the image below -

direct materials used direct labor used | manufacturing overhead total manufacturing costs work in progress 1/1 work in progress 12/31 cost of goods manufactured 1 121600 =F4-E4-D4 3 82700 4 73100 145600 204200 104100 =F6-E6-C6 89900 136200 =F5-C5-D5 78700 =C3+D3+E3 455900 267200 292200 35200 =14+H4-F4 65900 47700 =F3+G3-13 44800 83200 =F6+G6-16 363000 473900 =F5+G5-H5 273300 =G3 HORIZON COMPANY cost of goods manufactured schedule for the year ended December 31, 2017 work in progress 1/1 direct materials used =C3 direct labor used =D3 manufacturing overhead total manufacturing costs total cost of work in progress less: work in progress 12/31 cost of goods manufactured =F3 =F12+F16 =H3 =13

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