Cost of direct materials used in production $1,323,600 Direct labor 1,680,000 Work in process inventory, October 1 455,300 Work in process inventory, October 31 378,100 Total factory overhead 3,544,200 Determine Fuller Manufacturing's cost of goods manufactured for the month ended October 31.
Q: Overhead $14,400 During October, 38,400 units were completed and transferred to the molding…
A: An equivalent unit of production is a number of units produced by the manufactures which are…
Q: Lind Manufacturing had the following account balances as of January 1. Direct Materials Inventory…
A: The total cost is the sum of the fixed cost and the variable cost. Fixed costs are those that do not…
Q: April 30 May 31 Inventories Raw materials Work in process Finished goods Activities and information…
A: The cost of goods sold includes the cost of goods that are sold during the period.
Q: The following information is available for Ethtridge Manufacturing Company for the month ending July…
A: The cost of goods manufactured is the total production cost of the goods finished during the period.…
Q: Cost data for Disksan Manufacturing Company for the month ended January 31 are as follows:…
A: working note : Cost of Goods Sold= Cost of Goods Manuf + Begin(Finished Good) - End(Finished Good)…
Q: The following are Acme's production costs for the quarter ended September 30th: Direct materials…
A: Costs which are directly traced to the specific products in the process are called direct costs.
Q: Instructions Direct materials transferred from Milling Department: 15,700 units at $2.45 a unit…
A: Conversion costs = Direct Labor+ Factory overhead For Beginning WIP For direct material 100% unit…
Q: Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Sandusky…
A: Cost of Goods Manufactured = Work In Progress Inventory, January 1 + Total Manufacturing Costs -…
Q: The Cutting Department of Karachi Carpet Company provides the following data for January. Assume…
A: Equivalent Units: An equivalent unit of production is an indication of the amount of work done by…
Q: Partially completed T-accounts and additional information for Pine Ridge Corporation for the month…
A: Inventories are those assets which are held by a company in order to earn profits through selling…
Q: Statement of cost of goods manufactured for a manufacturing company Cost data for Johnstone…
A: Statement of cost of goods manufactured used to indicates the total cost into different categories.…
Q: Statement of cost of goods manufactured for a manufacturing company Cost data for Johnstone…
A: Cost is goods sold is the total cost (direct and indirect) of the goods which are sold. All the…
Q: Cost data for Sandusky Manufacturing Company for the month ended January 31 are as foll January 1…
A: a. Prepare a cost of goods manufactured statement for January.
Q: a. Raw materials purchased on account, $209,000. b. Raw materials used in production, $188,000…
A: The process of recording business transactions in the books of accounts for the first time is…
Q: Cost of Goods Sold Finished Goods Process 61,880 OMR 8,450 OMR3,440 OMR Direct materials Direct…
A: Total manufacturing overhead applied = 3300 + 6050 + 45000 = 54350
Q: Cost of Goods Sold, Cost of Goods Manufactured Timbuk 3 Company has the following information for…
A: Cost of goods sold = Beginning Finished goods inventory + Cost of goods manufactured - Ending…
Q: Factory Overhead After reviewing the quantities on hand, ending inventories were: 210,000 Work in…
A: Cost of goods available for sale means that cost of goods which include the opening stock and cost…
Q: Schrager Company has two production departments: Cutting and Assembly. July 1 inventories are Raw…
A: Direct material and direct labour are direct costs that are incurred in manufacturing of the…
Q: Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Sandusky…
A: The statement of cost of goods manufactured is prepared to find the cost of goods produced during…
Q: Inventories March 1 March 31 Materials $204,000 $187,580 Work in process 423,440 495,810 Finished…
A: The statement of cost of goods manufactured include the total direct and indirect costs incurred for…
Q: Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Disksan…
A: Disksan Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended…
Q: 39 costing. The company's inventory balances were as follows at the beginning and end of the year:…
A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for…
Q: Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Disksan…
A: Cost of Goods manufactured is the total cost of goods manufactured in a particular period. Cost of…
Q: Total manufacturing costs Work in process inventory, January 31 Cost of goods manufactured b.…
A: Cost of goods sold means the difference between the cost of goods available for sales and closing…
Q: Total manufacturing costs were $2,500,000. • Cost of goods manufactured was $2,425,000. • Applied…
A: The ending work-in-process inventory is calculated by adding beginning work-in-process inventory to…
Q: Raw Materials Used: $84,404 Direct Labor: $143,978 Manufacturing Overhead Incurred: $324,608…
A: Introduction:- Cost of Goods Manufactured denotes total cost incurred to manufacture products and…
Q: Cost of Goods Manufactured, Cost of Goods Sold Hayward Company,a manufacturing firm, has supplied…
A: The calculation of direct material used has been made as follows: Direct material used=Material…
Q: hours $4,320,000 in manufacturing overhead cost at an activity level of 576,000 machine-hours. used…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Total Manufacturing Overhead at the beginning of the year $105,840 Total direct labour costs…
A: As posted multiple independent questions we are answering only first question kindly repost the…
Q: Cost of goods manufactured and cost of goods sold The following tablesummarizes the beginning and…
A:
Q: Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Sandusky…
A: Cost sheet is a method of allocating total cost into different categories such as direct material…
Q: tatement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Johnstone…
A: Costs of Goods manufactured: - Cost of Goods manufactured is the amount which arises due the…
Q: (ь) Determine the missing amounts. Work in Process (January 1) (December 31) Manufactured Total Work…
A:
Q: Ihe following costs were incurred in May: Direct materials $44,600 Direct labor $28,900…
A: Prime cost refers to the direct cost of production which is related with the direct materials and…
Q: Inventories Materials January 1 January 31 302,000 278,000 Work in process 215,600 238,200 Finished…
A: The statement of cost of goods manufactured includes the direct and indirect costs incurred during…
Q: 20.Cost of Goods Manufactured for a Manufacturing Company The following information is available…
A: Cost of goods manufactured: Cost of Goods Manufactured, also known to as COGM, is a term used in…
Q: Glenville Company has the following information for April: Cost of direct materials used in…
A: Preparation of the above statements that is statement of cost of goods manufactured and statment of…
Q: The cost of goods sold in March for Targé Co. was $3,701,740. The March 31 Work in Process Inventory…
A: Prime cost is the cost which represents the sum of direct material and direct labor whereas cost of…
Q: Data analysis, manufacturing statement, cost terminology O’Reilly Manufacturing, Inc.’s cost of…
A: Workings: WN 1: Cost of goods manufactured=Cost of goods sold+Ending finished goods…
Q: Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Sandusky…
A: Cost of goods manufactured: The cost of goods manufactured is the total costs incurred for the…
Q: Raw Material (direct and indirect) Inventory $25,300 Work in Process Inventory 9,000 Finished Goods…
A: The journal entries are prepared to keep the record of day to day transactions of the business. For…
Q: Machine-hours 61,000Manufacturing overhead cost $ 1,324,000Inventories at year-end:Raw materials $…
A: First step is to compute the Pre-determined OH rate as aboveThen the Overheads applied to production…
Q: Riverdale manufactured ladies apparel. Charges to work in process account show: Direct materials…
A: Overhead means the cost incurred indirect in factory for the production of goods. Job costing means…
Q: Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows:…
A: cost of goods manufactured statement: Particulars Amount$ Direct material used…
Q: Statement of cost of goods manufactured for a manufacturing company Cost data for Johnstone…
A: The cost of goods sold is referred to the total direct cost which is incurred in order to prepare…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Sanchez Welding and Manufacturing Company. Prepare a schedule of cost of goods manufactured for the year ended December 31, 20--. Assume that all materials inventory items are direct materials. Work in process, January 1 20,500 Materials inventory, January 1 11,000 Materials purchases 12,000 Materials inventory, December 31 13,000 Direct labor 9,500 Overhead 5,500 Work in process, December 31 10,500Factory overhead costs During May, Bergan Company incurred factory overhead costs as follows: indirect materials, 8,800; indirect labor, 6,600; utilities cost, 4,800; and factory depreciation, 9,000. Journalize the entry to record the factory overhead incurred during May.OReilly Manufacturing Co.s cost of goods sold for the month ended July 31 was 345,000. The ending work in process inventory was 90% of the beginning work in process inventory. Factory overhead was 50% of the direct labor cost. No indirect materials were used during the period. Other information pertaining to OReillys inventories and production for July is as follows: Required: 1. Prepare a statement of cost of goods manufactured for the month of July. (Hint: Set up a statement of cost of goods manufactured, putting the given information in the appropriate spaces and solving for the unknown information. Start by using cost of goods sold to solve for the cost of goods manufactured.) 2. Prepare a schedule to compute the prime cost incurred during July. 3. Prepare a schedule to compute the conversion cost charged to Work in Process during July.
- On December 1, Carmel Valley Production Inc. had a work in process inventory of 1,200 units that were complete as to materials and 50% complete as to labor and overhead. December 1 costs follow: During December the following transactions occurred: a. Purchased materials costing 50,000 on account. b. Placed direct materials costing 49,000 into production. c. Incurred production wages totaling 50,500. d. Incurred overhead costs for December: e. Applied overhead to work in process at a predetermined rate of 125% of direct labor cost. f. Completed and transferred 10,000 units to finished goods. (Hint: You should first compute equivalent units and unit costs. The unit cost should include applied, not actual, factory overhead.) Carmel Valley uses the weighted average cost method. The ending inventory of work in process consisted of 1,000 units that were completed as to materials and 25% complete as to labor and overhead. Required: Prepare the journal entries to record the above December transactions.JOURNAL ENTRIES FOR MATERIAL, LABOR, AND OVERHEAD Eto Manufacturing had the following transactions during the month: (a) Purchased raw materials on account, 70,000. (b) Issued direct materials to Job No. 300, 25,000. (c) Issued indirect materials to production, 10,000. (d) Paid biweekly payroll and charged direct labor to Job No. 300, 8,000. (e) Paid biweekly payroll and charged indirect labor to production, 3,000. (f) Issued direct materials to Job No. 301, 20,000. (g) Issued indirect materials to production, 4,000. (h) Paid miscellaneous factory overhead charges, 6,000. (i) Paid biweekly payroll and charged direct labor to Job No. 301, 10,000. (j) Paid biweekly payroll and charged indirect labor to production, 2,000. REQUIRED Prepare general journal entries for transactions (a) through (j).The records of Burris Inc. reflect the following data: Work in process, beginning of month2,000 units one-half completed at a cost of 1,250 for materials, 675 for labor, and 950 for overhead. Production costs for the monthmaterials, 99,150; labor, 54,925; factory overhead, 75,050. Units completed and transferred to stock38,500. Work in process, end of month3,000 units, one-half completed. Compute the months unit cost for each element of manufacturing cost and the total per unit cost.
- Applying factory overhead Bergan Company estimates that total factory overhead costs will be 620,000 for the year. Direct labor hours are estimated to be 80,000. For Bergan Company, (A) determine the predetermined factory overhead rate using direct labor hours as the activity base, (B) determine the amount of factory overhead applied to Jobs 200 and 305 in May using the data on direct labor hours from BE 16-2, and (C) prepare the journal entry to apply factory overhead to both jobs in May according to the predetermined overhead rate.Cost of Direct Materials, Cost of Goods Manufactured, Cost of Goods Sold Bisby Company manufactures fishing rods. At the beginning of July, the following information was supplied by its accountant: During July, the direct labor cost was 43,500, raw materials purchases were 64,000, and the total overhead cost was 108,750. The inventories at the end of July were: Required: 1. What is the cost of the direct materials used in production during July? 2. What is the cost of goods manufactured for July? 3. What is the cost of goods sold for July?The records of Stone Inc. reflect the following data: Work in process, beginning of month4,000 units one-fourth completed at a cost of 2,500 for materials, 1,400 for labor, and 1,800 for overhead. Production costs for the monthmaterials, 130,000; labor, 70,000; and factory overhead, 82,000. Units completed and transferred to stock45,000. Work in process, end of month5,000 units, one-half completed. Compute the months unit cost for each element of manufacturing cost and the total per unit cost. (Round unit costs to three decimal places.)
- Selected information concerning the operations of a company for the year ended December 31 is as follows: Work in process inventories at the beginning and end of the year were zero. Beginning inventory of finished goods was 9,650 (for 1,000 units). Cost of goods sold was 174,600. What was the companys finished goods inventory cost at December 31? a. 98,050 b. 29,100 c. 29,050 d. 40,600(Appendix 4A) Journal Entries, Job Costs The following transactions occurred during the month of April for Nelson Company: a. Purchased materials costing 4,610 on account. b. Requisitioned materials totaling 4,800 for use in production, 3,170 for Job 518 and the remainder for Job 519. c. Recorded 65 hours of direct labor on Job 518 and 90 hours on Job 519 for the month. Direct laborers are paid at the rate of 14 per hour. d. Applied overhead using a plantwide rate of 6.20 per direct labor hour. e. Incurred and paid in cash actual overhead for the month of 973. f. Completed and transferred Job 518 to Finished Goods. g. Sold on account Job 517, which had been completed and transferred to Finished Goods in March, for cost (2,770) plus 25%. Required: 1. Prepare journal entries for Transactions a through e. 2. Prepare job-order cost sheets for Jobs 518 and 519. Prepare journal entries for Transactions f and g. (Note: Round to the nearest dollar.) 3. Prepare a schedule of cost of goods manufactured for April. Assume that the beginning balance in the raw materials account was 1,025 and that the beginning balance in the work-in-process account was zero.Entries and schedules for unfinished jobs and completed jobs Hildreth Company uses a job order cost system. The following data summarize the operations related to production for April, the first month of operations: A. Materials purchased on account, 147,000. B. Materials requisitioned and factory labor used: C. Factory overhead costs incurred on account, 6,000. D. Depreciation of machinery and equipment, 4,100. E. The factory overhead rate is 40 per machine hour. Machine hours used: F. Jobs completed: 101, 102, 103, and 105. G. Jobs were shipped and customers were billed as follows: Job 101, 62,900; Job 102, 80,700; Job 105, 45,500. Instructions 1. Journalize the entries to record the summarized operations. 2. Post the appropriate entries to T accounts for Work in Process and Finished Goods, using the identifying letters as transaction codes. Insert memo account balances as of the end of the month. 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. 4. Prepare a schedule of completed jobs on hand to support the balance in the finished goods account.
