For each of the following unrelated companies, compute the cost of goods manufactured and the cost of goods sold: A B C Selling expenses $860 $1,160 $960 Factory insurance 260 245 140 Ending finished goods inventory 810 750 515 Non-factory administrative expenses 250 450 350 Direct labor 2,920 3,120 2,480 Beginning materials inventory 880 1,030 710 Beginning work in process inventory 1,120 840 1,070 Indirect materials used 390 420 230 Factory utilities 600 635 510 Factory depreciation 730 760 380 Ending work in process inventory 1,360 790 950 Ending materials inventory 440 710 410 Indirect labor 425 280 160 Beginning finished goods inventory 850 725 480 Factory repairs and maintenance 215 230 175 Net delivered cost of materials purchased 3,140 4,410 2,870 Factory supplies used 330 310 210 A B C Direct materials used Answer Answer Answer Direct labor Answer Answer Answer Total manufacturing overhead Answer Answer Answer Total manufacturing costs Answer Answer Answer Cost of goods manufactured Answer Answer Answer Cost of goods sold Answer Answer Answer
For each of the following unrelated companies, compute the cost of goods manufactured and the cost of goods sold: A B C Selling expenses $860 $1,160 $960 Factory insurance 260 245 140 Ending finished goods inventory 810 750 515 Non-factory administrative expenses 250 450 350 Direct labor 2,920 3,120 2,480 Beginning materials inventory 880 1,030 710 Beginning work in process inventory 1,120 840 1,070 Indirect materials used 390 420 230 Factory utilities 600 635 510 Factory depreciation 730 760 380 Ending work in process inventory 1,360 790 950 Ending materials inventory 440 710 410 Indirect labor 425 280 160 Beginning finished goods inventory 850 725 480 Factory repairs and maintenance 215 230 175 Net delivered cost of materials purchased 3,140 4,410 2,870 Factory supplies used 330 310 210 A B C Direct materials used Answer Answer Answer Direct labor Answer Answer Answer Total manufacturing overhead Answer Answer Answer Total manufacturing costs Answer Answer Answer Cost of goods manufactured Answer Answer Answer Cost of goods sold Answer Answer Answer
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter2: Basic Managerial Accounting Concepts
Section: Chapter Questions
Problem 58P: Cost of Goods Manufactured, Income Statement W. W. Phillips Company produced 4,000 leather recliners...
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Question
Cost of Goods
For each of the following unrelated companies, compute the cost of goods manufactured and the cost of goods sold:
A | B | C | |
---|---|---|---|
Selling expenses | $860 | $1,160 | $960 |
Factory insurance | 260 | 245 | 140 |
Ending finished goods inventory | 810 | 750 | 515 |
Non-factory administrative expenses | 250 | 450 | 350 |
Direct labor | 2,920 | 3,120 | 2,480 |
Beginning materials inventory | 880 | 1,030 | 710 |
Beginning work in process inventory | 1,120 | 840 | 1,070 |
Indirect materials used | 390 | 420 | 230 |
Factory utilities | 600 | 635 | 510 |
Factory |
730 | 760 | 380 |
Ending work in process inventory | 1,360 | 790 | 950 |
Ending materials inventory | 440 | 710 | 410 |
Indirect labor | 425 | 280 | 160 |
Beginning finished goods inventory | 850 | 725 | 480 |
Factory repairs and maintenance | 215 | 230 | 175 |
Net delivered cost of materials purchased | 3,140 | 4,410 | 2,870 |
Factory supplies used | 330 | 310 | 210 |
A | B | C | |
---|---|---|---|
Direct materials used | Answer | Answer | Answer |
Direct labor | Answer | Answer | Answer |
Total manufacturing |
Answer | Answer | Answer |
Total manufacturing costs | Answer | Answer | Answer |
Cost of goods manufactured | Answer | Answer | Answer |
Cost of goods sold | Answer | Answer | Answer |
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