calculate the cost of goods manufactured:In $'sDirect Materials Used120Direct Labor200Manufacturing Overhead182Operating expenses175Beginning work in process20Ending work in process10Beginning finished goods35Ending finished goods15O a. $ 492O b. $ 512O C.$ 482O d. $ 522

Name: calculate the cost of goods manufactured:In $'sDirect Materials Used1
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: calculate the cost of goods manufactured:In $'sDirect Materials Used120Direct Labor200Manufacturing Overhead182Operating expenses175Beginning work in process20Ending work in process10Beginning finished goods35Ending finished goods15O a. $ 492O b. $

Direct materials consumed, direct labor costs incurred, and the directly related manufacturing…

Answered: n S's Direct Materials Used

Business

Accounting

n S's Direct Materials Used

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter10: Accounting Systems For Manufacturing Operations

Section: Chapter Questions

Problem 10.10E: Amounts for materials Big Timber Furniture Company manufactures furniture. Big Timber Furniture uses...

See similar textbooks

Similar questions

Amounts for materials Big Timber Furniture Company manufactures furniture. Big Timber Furniture uses a job order cost system. Balances on June 1 from the materials ledger are as follows: The materials purchased during June are summarized from the receiving reports as follows: Materials were requisitioned to individual jobs as follows: The glue is not a significant cost, so it is treated as indirect materials (factory overhead). a.Determine the total purchase of materials in June. b.Determine the amounts of materials transferred to Work in Process and Factory Overhead during June. c.Determine the June 30 balances that would be shown in the materials ledger accounts.
The related data of Ivian Company: Ending Beginning Raw materials P100,200 P200,300 Work in process 300,400 355,500 Finished goods 285,700 312,700 The Cost of goods sold is P1,317,200. Direct materials used are P625,700 while factory overhead is applied at 50% of the direct materials used. What has the amount of the direct labor cost?
Check my workCheck My Work button is now enabled1 Item 3 Item 3 Superior Micro Products uses the FIFO method in its process costing system. Data for the Assembly Department for May appear below: Materials Labor Overhead Cost added during May $ 83,475 $ 40,310 $ 137,025 Equivalent units of production 15,900 14,500 14,500 Required: Compute the cost per equivalent unit for materials, labor, overhead, and in total. (Round your answers to 2 decimal places.)
1. Supply the missing data in the following cases, each case is independent of the others. Schedule of Cost of Goods ManufacturedDirect materials . . . . . . . . . . . . . . . . . . . . . .P 4,500Direct labor . . . . . . . . . . . . . . . . . . . . . . . . . . ?Manufacturing overhead . . . . . . . . . . . . . . . 5,000Total manufacturing costs . . . . . . . . . . . . . . 18,500Beginning work in process inventory . . . . . 2,500Ending work in process inventory . . . . . . . . ?Cost of goods manufactured . . . . . . . . . . . 18,000 Income StatementSales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . P 30,000Beginning finished goods inventory . . . . . 1,000Cost of goods manufactured . . . . . . . . . . . 18,000Goods available for sale . . . . . . . . . . . . . . . ?Ending finished goods inventory . . . . . . . . ?Cost of goods sold . . . . . . . . . . . . . . . . . . . . 17,000Gross margin . . . . . . . . . . . . . . . . . . . . . . . . 13,000Selling and administrative…
27 Select the proper journal entry to record the movement of 1,700 units of part number 116B to work in process when each unit of 116B has a value of $2.00. Group of answer choices Raw Material Inventory 3,400 Work in Process 3,400 Work in Process 3,400 Raw Material Inventory 3,400 Work in Process 3,400 Cash 3,400 Work in Process 3,400 Factory Overhead 3,400
A schedule of cost of goods manufactured shows:a. Materials used, P600,000b. Direct labor, 1,600,000c. Overhead costs, P 1,280,000d. Work in process, ending inventory, P280,000Compute for (1) the rate of factory overhead to direct labor cost, and (2) the direct materialsincluded in the work in process inventory, assuming that the direct labor in the work in processis P100,000. a. (1) 80% ; (2) P80,000b. (1) 125% ; (2) P60,000c. (1) 80% ; (2) P100,000d. (1) 125% ; (2) P100,000
The following are available in the general ledger account of Clothes Manufacturing Company: Raw Materials, beg. P100,000; Purchases – raw materials, P300,000; Raw Materials, end P50,000; Direct Labor P200,000; Manufacturing Overhead P150,000; Work in Process beg. P200,000; Work in Process end P100,000; Finished Goods beg. P50,000; and Finished Good end P100,000. How much is the total cost of goods placed in process? How much is the total cost of goods manufactures?
Princeton 3 Company has the following information for May:Cost of direct materials used in production $17,300Direct labor 44,700Factory overhead 28,800Work in process inventory, May 1 72,100Work in process inventory, May 31 76,400Finished goods inventory, May 1 30, 300Finished goods inventory, May 31 34,600For May, determine a) the cost of goods manufactured and b) the cost of goods sold
Please answer the following subparts in regards to this same question: d. Direct labor usede. Indirect labor usedf. Other overhead costs paid in cash Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the cutting process. The following information is available regarding its May inventories. Beginning Inventory Ending Inventory Raw materials inventory $ 81,000 $ 97,900 Work in process inventory—Cutting 193,500 135,500 Work in process inventory—Stitching 213,300 107,000 Finished goods inventory 50,100 38,250 The following additional information describes the company's production activities for May. Direct materials Raw materials purchased on credit $ 100,000 Direct materials used—Cutting 25,500 Direct materials used—Stitching 0 Direct labor Direct labor—Cutting $ 23,100 Direct labor—Stitching 92,400 Factory Overhead (Actual costs)…
Required information Problem 03-1A Production cost flow and measurement; journal entries LO P1, P2, P3, P4 Skip to question [The following information applies to the questions displayed below.] Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories: BeginningInventory EndingInventory Work in process inventory—Cutting 73,500 75,500 Work in process inventory—Stitching 93,300 69,800 Finished goods inventory 26,100 14,250 The following additional information describes the company's production activities for May. Direct materials Raw materials purchased on credit $ 40,000 Direct materials used—Cutting 22,500 Direct materials used—Stitching 0 Direct labor Direct labor—Cutting $ 17,100 Direct labor—Stitching…
Determine the missing amount for each separate situation involving manufacturing cost flows. (1) (2) (3) Direct materials used $150,480 $33,890 Direct labor used 75,000 45,720 Factory overhead 122,000 32,840 60,275 Total manufacturing costs 243,500 238,700 Work in process inventory, beginning 56,920 8,245 Total cost of work in process 289,325 Work in process inventory, ending 22,545 11,250 Cost of goods manufactured $265,420
Diane Company has the following details for March. Cost of Direct Material used in production P31,000.00, Direct Labor P54,050.00, Factory Overhead P30,000.00, Work in Process inventory Feb 28 P92,750.00, Work in Process inventory March 31 P87,500.00, Finished goods inventory Feb 28 P36,750.00, Finished goods inventory March 31 P42,000.00. How much is the cost of goods manufactured P105,000.00 P99,750.00 P110,250.00 P120,300.00