Escudero Manufacturing Co. has provided you with the foll8Wing P 135,000 100,000 Raw materials purchased Beginning raw materials inventory Ending raw materials inventory Factory overhead (including P85,000 of indirect labor and P 20.000 of indirect materials) Total manufacturing cost Direct labor cost for the year amounted to a P 677,500 b. P 382,500 175,000 227,500 960.000 c.. P 642,500 d. P 692.500

Q: A certain company is selling a specific product with a selling price of P105.00. Data regarding…

A: In Variable Costing the fixed costs are not considered a part of the total cost, but in Absorption…

Q: d goods in storeroom, at cost; including overhead of P400,000 or 20%.                2,000,000…

A: Inventory management is the process of procurement, storage, and disposal of raw materials, work in…

Q: Company XYZ has raw materials at the beginning of August of OMR150,000. During August, the company…

A: Raw materials inventory: Raw material inventories are the primary materials which are used in the…

Q: . JYD Manufacturing Company showed the following information as of June 1, 2020; ​Raw materials…

A: 1)Calculation of the raw materials inventory as of June 30, 2020 as  follows under:- Basic…

Q: The following data were taken from the records of Best Company: 08/31/2021 09/30/2021 Inventories:…

A: The cost of goods sold is calculated as difference between cost of goods available for sale and…

Q: The Work in Process inventory account of Joseph Company showed: Werk in Process Inventory P220,000 I…

A: Direct costs are costs and expenses incurred directly for the production of goods and services.…

Q: Laflin company reported the following year-end Information: Beginning work in process inventory…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Miller Company reported the following year-end information: Beginning work in process inventory $…

A: The total cost of work in process can be calculated by adding up beginning work in process inventory…

Q: Kimbe Factory provided the following information for the last calender year, Beginning inventory…

A: As per the guidelines, only three parts of a question is allowed to be answered. Please upload…

Q: Chris Company showed cost of goods sold of P 4,320,000 in its statement of comprehensive income…

A: Cost of goods manufactured = Cost of goods sold / (1 - 20%) = P4320000 / (1-0.20) = P5,400,000 Total…

Q: XYZ Company developed the following data for the current year: Ending work in process inventory…

A: The cost of goods manufactured is the sum total of all expenses incurred during the process of…

Q: Superman Company Superman Company has the following costs and expenses for the year ending December…

A: 1. The required Schedule of Cost of goods manufactured is shown below:

Q: XYZ Company developed the following data for the current year: Ending work in process inventory…

A: Cost of goods manufactured = Beginning Work in process + Total manufacturing cost  - Ending work in…

Q: X Company reported the following year- end information: Beginning Raw Materials Inventory S70,000…

A: Cost of Good Sold - It is refer to the direct cost for production of goods sold by the company.

Q: INVENTORIES Ending Beginning $95,000 $110,000 Finished goods Work in process.. Direct materials.…

A: The cost of goods sold statement is prepared to estimate the cost of goods sold during the period.

Q: Barton Company has beginning work in process inventory of $144,000 and total manufacturing costs of…

A: Cost of goods manufactured means the cost incurred for manufacturing the finished product.

Q: Direct materials purchased 230,000 Work-in-process inventory, 08/01/x2 Direct materials inventory,…

A: Direct material used=Total Manufacturing cost-Conversion cost=830,000-650,000=180,000

Q: Required: Cost of goods sold statement P1,100,000 6% of sales 2% of sales 300,000 240,000 Sales…

A: Raw materials are the direct materials that are used in the direct production of goods. The raw…

Q: 20. Hardgan Manufacturing Company reported the fowing yend infomation Beginning work in process…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: 5) During the month of April, Candice Ltd. provides the following information: direct materials…

A: Formula: Total manufacturing cost =Direct materials + Direct labor + manufacturing overhead

Q: Lafilin company reported the followlng year-end Information: Beginning work in process inventory…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: X Company reported the following year-end information: Beginning Raw Mate ls Inventory S60.000…

A: Cost of raw material used = Beginning material inventory + Materials purchased - Closing material…

Q: Escudero Manufacturing Co. has provided you with the following information P. 135,000 100,000…

A: The following calculations are done in the books of Escudero manufacturing Company to compute direct…

Q: Direct materials purchased 230,000 Work-in-process inventory, 08/01/x2 Direct materials inventory,…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: The information relating to cost department of BETA Corporation is as follows: Inventory…

A: Cost of goods sold statement shows total cost of all goods that are sold in a particular period.

Q: X Company reported the following year- end information: Beginning Raw Materials Inventory S70,000…

A: Raw Material Cost = Beginning Raw Material Inventory + Raw Material Purchases - Ending Raw Material…

Q: Mender Inc. had the folowing hnformaton for the preceding year. Beginning Ending Inventory Inventory…

A: Total manufacturing costs = Direct material + direct labor + manufacturing overhead =…

Q: Bloom Company accumulated the following quarterly cost data for the current year Raw…

A: Solution: Direct materials used using FIFO = (90000*P7) + (75,000*P8) + (30000*P8.50) = P1,485,000

Q: Sales 559,000 5,500 Sales returns Inventories, January 1: Raw materials Work in process Finished…

A:

Q: Products Units sold 10,000 20,000 P 15,000 40,000 20,000 P141,750 Units on hand 30,000 Sales P…

A:

Q: Papa Ground Factory provided the following information for the last calender year: Beginning…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Lafln company reported the following year-end Information: Beginning work in process inventory…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: X Company reported the following year-end information: Beginning Raw Materials Inventory $80,000…

A: Cost of direct material used = Beginning raw material inventory + Raw materials purchased - Closing…

Q: The related data of Megan Company:…

A: Direct materials used = Beginning Inventory of materials + Direct material purchased - Closing…

Q: MARIE SWIFT Company reported the given information for the month of Octobe Inventories: P29,000 Work…

A: ln costing there are two types of cost direct cost and indirect. These cost  are incurred to produce…

Q: Ryder Manufacturing reported the following year end information: beginning work in process inventory…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: 10 XOTIC Corp...incurred the following costs in October 2008: direct labor, P 120,000; factory…

A: Cost of goods manufactured = Total manufacturing cost + Beginning WIP - Ending WIP

Q: GIGRIC314 company provided the following data for the end of the year (all raw materials are used in…

A: Overapplied overhead = Overhead applied - Actual overhead  = $365,000 - $342,000 = $23,000 Adjusted…

Q: Goods in process inventory, 1/1 25,000 Goods in process inventory, 12/31 21,920 Indirect labor 4,600…

A: Answer:-  Income statement meaning:- An income statement is a financial statement of the company…

Q: Sun Inc. has provided the following information: $ 60,000 Beginning Work-in-Process Inventory…

A: Inventory refers to the goods held by the business either for selling or for further production so…

Q: Instructions The following information is available for Lagakos Corporation for 20Y8: Inventories…

A: Income statement is prepared to show the net income of the organisation after analysing the revenue…

Q: Beginning work in process inventory $1,080,000 Beginning raw materials inventory Ending work in…

A: Cost of Goods Manufactured:  The cost of goods manufactured is the statement that shows the total…

Q: nts) The following data have been taken from the accounting records of Larder Corporation for the…

A: Operation Income = Revenue - Expenses Total manufacturing cost incurred = Direct materials used +…

Q: What is the Gross Profit for April?

A: Determine the production status of Marcelino Company as on April 30.

Q: Inventories: • Beginning - raw material_P50,000 - work in process_P40,000 - finished goods_P60,000…

A: Cost of goods manufactured is the total amount of cost incurred on manufacturing of goods. We are…

Q: 4. DER, Inc., manufactures a single product. The following information is available for 2022: • Raw…

A: Here asked for multi sub part question we will solve for first three sub part question for you.  If…

Q: Manufacturing income statement, statement of cost of goods manufactured Several items are omitted…

A: The income statement is the part of the financial statement of the company that is the balance sheet…

Q: ABC supplier incurred the following actual costs during the year just ended: Direct material used…

A: NOTE: This set contains 5 questions and nothing has been stated regarding which question needs to be…

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.