Selected data concerning the past year's operations of the Beachwear Manufacturing Company are as follows: Inventories ($) Beginning Ending Raw materials 86,000 91,000 Work in Process 90,000 40,000 Finished Goods 110,000 120,000 Other Data: Direct Materials Used - $ 416,000 Total Manufacturing Costs Charged to production during the year (includes direct material, direct labour, and manufacturing overhead applied at a rate of 60% of direct-labour cost) --$ 718,000 Cost of Goods Available for Sale --$ 816,000 Selling and Administration Expenses - $ 32,500
Selected data concerning the past year's operations of the Beachwear Manufacturing Company are as follows: Inventories ($) Beginning Ending Raw materials 86,000 91,000 Work in Process 90,000 40,000 Finished Goods 110,000 120,000 Other Data: Direct Materials Used - $ 416,000 Total Manufacturing Costs Charged to production during the year (includes direct material, direct labour, and manufacturing overhead applied at a rate of 60% of direct-labour cost) --$ 718,000 Cost of Goods Available for Sale --$ 816,000 Selling and Administration Expenses - $ 32,500
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter7: Variable Costing For Management
analysis
Section: Chapter Questions
Problem 1E: At the end of the first year of operations, 21,500 units remained in the finished goods inventory....
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a) What was the cost of raw materials purchased during the year?
b) What was the direct-labour cost charged to production during the year?
c) What was the cost of goods manufactured during the year?
d) What was the cost of goods sold during the year?
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