Required information [The following information applies to the questions displayed below.] Crunchem Cereal Company incurred the following actual costs during 20x1. Direct material used Direct labor Manufacturing overhead $295,000 120,000 252,000 The firm's predetermined overhead rate is 210 percent of direct-labor cost. The January 1 inventory balances were as follows: Raw material Work in process Finished goods $30,000 39,000 43,000 Each of these inventory balances was 10 percent higher at the end of the year. Required: 1. Prepare a schedule of cost of goods manufactured for 20x1. Direct material: Raw material used Total manufacturing costs Subtotal CRUNCHEM CEREAL COMPANY Schedule of Cost of Goods Manufactured For the Year Ended December 31, 20x1 Cost of goods manufactured
Required information [The following information applies to the questions displayed below.] Crunchem Cereal Company incurred the following actual costs during 20x1. Direct material used Direct labor Manufacturing overhead $295,000 120,000 252,000 The firm's predetermined overhead rate is 210 percent of direct-labor cost. The January 1 inventory balances were as follows: Raw material Work in process Finished goods $30,000 39,000 43,000 Each of these inventory balances was 10 percent higher at the end of the year. Required: 1. Prepare a schedule of cost of goods manufactured for 20x1. Direct material: Raw material used Total manufacturing costs Subtotal CRUNCHEM CEREAL COMPANY Schedule of Cost of Goods Manufactured For the Year Ended December 31, 20x1 Cost of goods manufactured
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter1: Introduction To Cost Accounting
Section: Chapter Questions
Problem 9P: Glasson Manufacturing Co. produces only one product. You have obtained the following information...
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Required information
[The following information applies to the questions displayed below.]
Crunchem Cereal Company incurred the following actual costs during 20x1.
Direct material used
Direct labor
Manufacturing overhead
$295,000
120,000
252,000
The firm's predetermined overhead rate is 210 percent of direct-labor cost. The January 1 inventory balances were as
follows:
Raw material
Work in process
Finished goods
$30,000
39,000
43,000
Each of these inventory balances was 10 percent higher at the end of the year.
Required:
1. Prepare a schedule of cost of goods manufactured for 20x1.
Direct material:
Raw material used
Total manufacturing costs
Subtotal
CRUNCHEM CEREAL COMPANY
Schedule of Cost of Goods Manufactured
For the Year Ended December 31, 20x1
Cost of goods manufactured](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc0ccb318-df14-4cf7-ba16-d37125861fc1%2F2fd48bb6-485c-423d-8b4e-46c6fe8cd607%2Faosubvi_processed.png&w=3840&q=75)
Transcribed Image Text:!
Required information
[The following information applies to the questions displayed below.]
Crunchem Cereal Company incurred the following actual costs during 20x1.
Direct material used
Direct labor
Manufacturing overhead
$295,000
120,000
252,000
The firm's predetermined overhead rate is 210 percent of direct-labor cost. The January 1 inventory balances were as
follows:
Raw material
Work in process
Finished goods
$30,000
39,000
43,000
Each of these inventory balances was 10 percent higher at the end of the year.
Required:
1. Prepare a schedule of cost of goods manufactured for 20x1.
Direct material:
Raw material used
Total manufacturing costs
Subtotal
CRUNCHEM CEREAL COMPANY
Schedule of Cost of Goods Manufactured
For the Year Ended December 31, 20x1
Cost of goods manufactured
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