If the beginning finished goods -9 inventory 90 000 ID, ending finished goods inventory 65 000 ID , overhead expenses 18 O00 ID ,cost of goods manufacturing 431 000 ID ,the cost of * -: goods sold is 654 000 ID. O 546 000 ID. 456 000 ID .00 O
Q: 20. Hardigan Manufacturing Company reported the folowing year end information Beginning work in…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: cost OMR240,000. Company's beginning work in process inventory is
A: Calculation of Beginning work in Process Inventory Particulars Amount Cost of goods…
Q: Analyze T-accounts given below: Raw material inventory $15 Balance $245 Used $30 Purchased Balance…
A: The following calculations are done to evaluate the T-accounts to compute the indirect material used…
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: LBC's beginning work-in-process inventory is P 376,000, ending work-in-process inventory is P…
A: Prime cost means the addition of direct material and direct labor. Conversion cost means the…
Q: If the cost of goods sold is $100,000 and the ending finished goods inventory is$30,000 higher than…
A: Cost of goods manufactured: Cost of goods manufactured means total manufacturing costs; including…
Q: Account Dollar amount Beginning Materials Inventory $74,323 Purchases ? Materials available for…
A: There are the journal entries : Raw material purchase A/c Dr.…
Q: Indicate the missing amount for each letter. Case 1 2 Direct materials used $9,790…
A: Cost of goods manufactured is the cost incurred to produce the goods in the production department.
Q: If the prime cost 70 700 ID ,- 2 manufacturing overhead 12 000 ID, beginning work inproces inventory…
A: Cost of goods manufactured means all costs incurred for the manufacture of products like direct cost…
Q: Product Cost Flows Complete the following T-accounts: Materials Inventory 480 Answer…
A: Solution:- Preparation of T accounts as follows:- Working note:- (i)75 is a manufacturing overhead…
Q: 26,300,000 Total Manufacturing Costs Incurred during the Year Total Manufacturing Costs to Account…
A: Cost of goods sold is the valuation of goods sold at cost price(purchase price). This is computed in…
Q: Raw Materials Inventory Work-in-Process Inventory Finished Goods Inventory 30,000 | (a) (b) 33,000…
A: The missing figures are calculated as per the information provided in the T-accounts.
Q: In October 2010, Tibbetts Company had the following production and cost data: Beginning inventory…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: ABC Company produced 3,000 units and sold 2,500 units. Total fixed manufacturing overhead cost is…
A: Variable costing means that inventory is valued at variable manufacturing cost and fixed cost is…
Q: the net sales 159 150 ID , beginning finished goods inventory 16 500 ID ,Cost of goods manufactured…
A: The Numerical has covered the concept of Gross Profit The Gross Profit is appeared in the Income…
Q: gOods inventory. 3.13 The following information pertains to the first year of operation of A Corp…
A: "Since you have asked multiple questions, we will solve first question for you. If you want any…
Q: Belle Company reports the following information for the current year. All beginning inventory…
A: Introduction: Absorption costing is a method of calculating inventory costs. It includes variable…
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: Cost of goods manufactured Selling expenses Administrative expenses Sales Finished goods inventory,…
A: Cost of goods sold :- Cost of goods sold refers to the total expenses that are incurred by an…
Q: If the beginning finished goods -9 inventory 90 000 ID, ending finished goods inventory 65 000 ID ,…
A: As per the policy, we are supposed to solve one question at a time, Kindly repost the further…
Q: If the net sales 159 150 ID , beginning -1 finished goods inventory 16 500 ID „Cost of goods…
A: Solution- Calculation of cost…
Q: Related data Scott Summers Company: Sales…
A: Formula: Cost of goods sold= Beginning finished goods inventory + Cost of goods manufactured -…
Q: The following information pertains to Good luck Co. Beginning inventory Units produced Units sold…
A: Unit product cost based on variable costing = P10 + P8 + P2 = P20
Q: Raw materials purchases OMR 100,000 Direct labor OMR 75,000 Manufacturing overhead applied OMR…
A: Cost of goods sold shows actual costs incurred for total manufacturing costs with adjustment to…
Q: 1. Answer the following questions by analysing the T-accounts given below Materials Inventory Work…
A: Total manufacturing cost is the accumulated total expenses incurred in the process of manufacturing…
Q: OMR10,000 ; Finished goods inventory has decreased by OMR20,000. How much iIs the manufacturing…
A: The correct option is: d. OMR 95,000 Particulars Amount (OMR) Sales revenue 410,000 Less:…
Q: Raw Material Consumed is 25000 OMR, Prime cost is 338000 OMR, Cost of Production is 471800 OMR, cost…
A: Cost of goods available for sale means the cost of opening finished goods and total cost of goods…
Q: es baskelbals. The ageted ncome statement 1or the year, belore ny special orders, is as follows: Per…
A: The special order can be fulfilled when the business has the full capacity for the production.
Q: Prime cost is 236000 OMR, and cost of production for the year is 298420 OMR Opening stock of work in…
A: Given that, Prime cost is 236000 OMR cost of production for the year is 298420 OMR Opening stock of…
Q: Q-3 Following is the income Statement of Naeem Manufacturing Co. for the year ended Dec 31, 2007.…
A: Gross profit means the difference between the sale revenue and cost of production. Cost of goods…
Q: Finished goods inventory, June 1 Cost of goods manufactured Cost of finished goods available for…
A: Formula: Cost of goods manufactured = Cost of finished goods available for sale - Beginning Finished…
Q: Beginning inventory, 60% complete Units completed Units in ending inventory, 40% complete Cost of…
A: a). The beginning inventory was 60% complete. Therefore, in the month of August, the rest 40% will…
Q: Bare Unimart Manufacturing Beginning inventory Merchandise Finished goods Cost of merchandise…
A: Cost of goods sold for trader = Beginning merchandise inventory + Cost of goods purchased - Ending…
Q: Prime cost is 236000 OMR, and cost of production for the year is 355000 OMR Opening stock of work in…
A: Cost of goods sold = Opening stock of finished goods + Cost of goods manufactured - Closing stock…
Q: Telt 0462 Kelly Company had finished goods inventory $3,200 on January 1 and $4,000 on December 31.…
A: Cost of Goods Manufactured: The sum total of all manufacturing expenses for items that are completed…
Q: Details Case A Beginning inventory, raw material Purchases of raw material 10000 Ending inventory,…
A: Direct material used is calculated as total materials available and further deducting ending…
Q: Direct materials inventory at Beginning $9,000 Direct materials inventory at ending Work in process…
A: Cost of goods manufactured means the cost that is incurred to produce the goods during the given…
Q: ta table Finished Goods Inventory: Beginning balance, in units 600 Units produced 2,400 (1,400)…
A: In Variable Costing, the only variable manufacturing cost is taken into consideration in the stock…
Q: 2)Sheridan Company has $21000 of ending finished goods inventory as of December 31, 2013. If…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: The following information pertains to NUBD Co. Beginning inventory Units produced Units sold Direct…
A: Ending units = 15,000 units - 10,000 units = 5,000 units
Q: 1. Answer the following questions by analysing the T-accounts given below Materials Inventory Work…
A: Variable cost: It is the cost that changes with the change in the level of units produce. It…
Q: If the beginning finished goods -9 inventory 90 000 ID, ending finished goods inventory 65 000 ID ,…
A: Cost of goods sold (COGS) refers to the cost including the costs which are directly related to the…
Q: 1. Answer the following questions by analysing the T-accounts given below Materials Inventory Work…
A: T-accounts represent the classification of transactions recorded in journals to transfer them in…
Q: Prime cost is 236000 OMR, and cost of production for the year is 355000 OMR Opening stock of work in…
A: Prime costs are direct costs that includes the cost of direct material and direct labor involved in…
Q: P104 Queens uses weighted-average process costing. The following data are available for the month:…
A: Units completed and transferred = Beginning inventory + Units completed - ending inventory =…
Step by step
Solved in 2 steps
- Bean Nursery sells bark to its customers at retail. Bean buys bark from a plywood mill in bulk and transports the bark in its own trucks. Information relating to the beginning inventory and purchases of bark is as follows: Required Find the cost of 1,200 cubic yards in the ending inventory by the weighted-average-cost method. Carry average cost per cubic yard to four decimals. Check Figure Cost of ending inventory, 519.24ENDING INVENTORY COSTS Danny Steele owns a small specialty store, named Steeles Storeroom, whose year-end is June 30. Determine the total amount that should be included in Steeles Storerooms year-end inventory. A physical inventory taken on June 30 reveals the following: Cost of merchandise on the showroom floor and in the warehouse 42,600 Goods held on consignment (consignor is Quality Manufacturer) 7,600 Goods that Steeles Storeroom, as the consignor, has for sale at the location of Midtown Galleria 8,300 Sales invoices indicate that merchandise was shipped on June 28, terms FOB shipping point, delivered at buyers receiving dock on July 6 4,350 Sales invoices indicate that merchandise was shipped on June 26, terms FOB destination, delivered at buyers receiving dock on July 1 2,800Ruby Beauty Cosmetic Finished goods inventory Details, ending P20,000.00, cost of goods manufactured P230,000.00, and beginning finished goods inventory P11,000.00. How much is the cost of goods sold
- Ruby Beauty Cosmetic Finished goods inventory Details, ending P20,000.00, cost of goods manufactured P230,000.00, and beginning finished goods inventory P11,000.00. How much is the cost of goods sold P 221,000.00 P 239,700.00 P 239,000.0 P 221,300.00Sarah furniture Materials inventory Details, beginning P80,000.00, Purchases P55,000.00, Freight In P5,000.00, Freight out P2,000.00, Purchase discount P1,000.00 and Ending Materials inventory ending P38,000.00. How much is the material used in the production?May Company has ending finished goods inventory of P40,000.00, beginning finished goods inventory P55,000.00 and cost of goods manufactured of P120,000.00. What is the cost of goods sold of May Company? P 105,000.00 P 135,000.00 P 140,000.00 P 120,000.00
- E2-7 FIFO COSTING Using first-in, first-out perpetual inventory costing and the following information, determine the cost of materials used and the cost of the July 31 inventory:July 1 Balance on hand, 960 yd of linen @ $3.65 each.3 Issued 192 yd.5 Received 480 yd @ $4.56 each.6 Issued 120 yd.10 Issued 96 yd.11 Factory returned 18 yd, which were issued on the 10th, to the storeroom.15 Received 576 yd @ $5.05 each.20 Returned 336 yd to the vendor from the July 15 purchase.26 Issued 672 yd.E2-8 LIFO costing -Using last-in, first-out perpetual inventory costing and the information presented in E2-7, compute the cost of materials used and the cost of the July 31 inventory.Unimart PrecisionManufacturing Beginning inventory Merchandise $ 275,000 Finished goods $ 450,000 Cost of purchases 500,000 Cost of goods manufactured 900,000 Ending inventory Merchandise 115,000 Finished goods 375,000 Compute cost of goods sold for each of these two companies for the year. UNIMART Computation of Cost of Goods Sold Cost of goods sold Goods available for sale Cost of goods sold $0E2-7 FIFO costing Using first-in, first-out perpetual inventory costing and the follow- ing information, determine the cost of materials used and the cost of the July 31 inventory: July 1 Balance on hand, 1,000 yd of linen @ $4.00 each. 3 Issued 250 yd. 5 Received 500 yd @ $4.50 each. 6 Issued 150 yd. 10 Issued 110 yd. 11 Factory returned 10 yd, which were issued on the 10th, to the storeroom. 15 Received 500 yd @ $5.00 each. 20 Returned 300 yd to the vendor from the July 15 purchase. 26 Issued 600 yd
- Calculate the cost of goods available for sale. Inventory Opening Closing Material $100 $120 Work in progress $60 $30 Finished goods $500 $600 Total manufacturing costs were $5,390. The cost of goods available for sale is: a. $5,300 b. $5,320 c. $5,920 d. $5,420 e. None of the aboveMay Company has ending finished goods inventory of P40,000.00, beginning finished goods inventory P55,000.00 and cost of goods manufactured of P120,000.00. What is the cost of goods sold of May Company?Riverbed Corp reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 129 $ 5 $ 645 12 Purchases 344 6 2,064 23 Purchases 203 7 1,421 30 Inventory 234 Correct answer icon Your answer is correct. Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average unit cost $ enter weighted-average unit cost in dollars rounded to 3 decimal places Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round answers to 0 decimal places, e.g. 125.) FIFO LIFO Average-cost The cost of the ending inventory $ enter a dollar amount rounded to 0 decimal places $ enter a dollar amount rounded to 0 decimal places $ enter a dollar amount rounded to 0 decimal places The cost of goods sold $ enter a dollar amount rounded to 0…