Given the following information: Prime Costs $ 11000 Conversion Costs $ 30000 Direct Materials Purchased $ 51000 Direct Materials Used $ 11000 Change in finished goods inventory $ 30000 increase Change in WIP $ 25000 decrease Calculate the total manufacturing costs.
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Given the following information:
Prime Costs $ 11000
Conversion Costs $ 30000
Direct Materials Purchased $ 51000
Direct Materials Used $ 11000
Change in finished goods inventory $ 30000
increase Change in WIP $ 25000 decrease
Calculate the total
Step by step
Solved in 3 steps
- Direct material costs $3 per unit, direct labor costs $5 per unit, and overhead is applied at the rate of 100% of the direct labor cost. What is the value of the Inventory transferred to the next department if beginning inventory was 2,000 units; 9,000 units were started; and 1.000 units were in ending inventory? A. $1,000 B. $13,000 C. $130.000 D. $20.000If the beginning finished goods inventory 250 000 ID. prime cost 250 000 ID, ending finished goods inventory 160 000 ID, manufacturing overhead expenses 180 000 ID cost of goods manufactured 1224 000 ID, the cost of goods *-: sold areRaw Material Consumed is 25000 OMR, Prime cost is 338000 OMR, Cost of Production is 471800 OMR, cost of goods manufactured 485000 OMR Opening stock of work in progress is 27500, and closing stock of Work in progress is 14000 OMR, Opening stock of finished goods is 20000, and closing stock of finished goods is 13750 OMR, Calculate cost of goods available for sale Select one: a. None of These b. 450000 OMR c. 505000 OMR d. 605000 OMR
- Prime cost is 236000 OMR, and cost of production for the year is 355000 OMR Opening stock of work in progress is 4000, and closing stock of Work in progress is 5000 OMR, Opening stock of finished goods is 20000, and closing stock of finished goods is 13750 OMR, Cost of goods manufactured 358500 OMR Calculate cost of Goods Sold. Select one: a. 385500 OMR b. None of these c. 395500 OMR d. 357500 OMRA certain company is selling a specific product with a selling price of P105.00. Data regarding costs incurred are as follows: Direct Materials P600,000 Direct Labor 400,000 Variable Factory Overhead 250,000 Fixed Factory Overhead 850,000 Variable Selling and Other Expenses Per Unit 2.50 Fixed Selling and Other Expenses 250,000 Data regarding units are as follows: Case A Case B Case C Beginning Inventory 20,000 15,000 5,000 Ending Inventory 10,000 15,000 25,000 Produced 50,000 25,000 40,000 Requirements: Compute for the product cost per unit for each case under both absorption costing and variable costing. Compute for the inventory cost for each case under both absorption costing and variable costing. Prepare an income statement for each case under both absorption costing and variable costing.. Consider the following information: ITEM SALES(Units) SALES VARIABLE COST A 9000 $54000 5.95 B 12000 60000 3.75 C 15000 60000 3.50 D 25000 75000 1.75 Costs of the period are as follows (salaries $45000, rent $10000, depreciation $8000, furniture and computers $24000, raw materials $ 120,000, insurance $5000, periodic maintenance $4000, interest expense $3000, utilities (fixed) $4000, property tax $3000, advertising $9000 (set at the beginning of the year), and new cars $62000). What is the breakeven point for all items? How many units of item A, B, C, & D are needed to breakeven? Calculate the profit of item A.
- needed in 10 minutes Quantity (Product X) - 1,200.00Quantity (Product Y) - 1,800.00Purchase cost per unit (Product X) - 70.00Purchase cost per unit (Product Y) - 90.00Cash discount taken for both products – 10%Freight cost from supplier (Product X) 10.00Freight cost from supplier (Product Y) 30.00Estimated selling price (Product X) 120.00Estimated selling price (Product Y) 150.00Estimated selling costs (Product X) 22.00Estimated selling costs (Product Y) 35.00General and administrative (Product X) 15.00General and administrative (Product Y) 21.00Cost of goods sold per record – 385,800After considering the relevant information, determine the correct cost of goods sold to be presented in its financial performance statement.3) Calculate the Cost of Raw Materials Used using the below info: RM Beginning Inventory $ 50,000 RM Purchased $ 75,000 RM Available for Use ? RM Ending Inventory $ 25,000 Cost of Raw Materials Used ? 4) Using the Cost of Materials Used from Problem #3, calculate the Cost of Goods Manufactured: Raw Materials ? Direct Labor $ 75,000 MOH Applied $ 125,000 Cost of Goods Manufactured ?BRIAN POGI Co. manufactured the following units: Saleable 10,000 units Unsaleable Normal Loss 400 units Abnormal Loss 600 units Manufacturing costs totaled P198,000. 1. How much is the period cost? 2. What amount should the entity debit to finished goods?
- Prime cost is 236000 OMR, and cost of production for the year is 355000 OMR Opening stock of work in progress is 4000, and closing stock of Work in progress is 5000 OMR, Opening stock of finished goods is 20000, and closing stock of finished goods is 13750 OMR, Cost of goods manufactured 358500 OMR Calculate cost of goods available for saleWarmuplang Corporation showed the following costs for 2020 Warehouse depreciation P 300,000 Salaries of warehouse supervisor 200,000 Increase in RM inventory 20,000 Direct material purchases 120,000 Direct labor costs incurred 180,000 Variable selling costs 80,000 Question 1: Under the absorption costing, the total product costs should be: Question 2: if the company produced and sold 100,000 and 90,000 units, respectively during 2020. How much would be the difference in net income under absorption and variable costing?Brian Pogi Co. manufactured the following units: Saleable 10,000 units Unsaleable Normal Loss 400 units Abnormal Loss 600 units Manufacturing costs totaled P198,000. a. How much is the period cost? b. What amount should the entity debit to finished goods?
