The accounting records of X Corp shows the following: Increase of RM if 45,000; decrease din FG Inventory of 150,000; Purchases of raw materials of 1,290,000; Direct labor payroll of 600,000; Factory overhead of 900,000 (excludes indirect labor and indirect material of 10,000 and 20,000, respectively); Freight out of 135,000; Transportation in of 60,000 and decrease in WIP of 80,000. The cost of direct materials used for the period is?

The accounting records of X Corp shows the following: Increase of RM if 45,000; decrease din FG Inventory of 150,000; Purchases of raw materials of 1,290,000; Direct labor payroll of 600,000; Factory overhead of 900,000 (excludes indirect labor and indirect material of 10,000 and 20,000, respectively); Freight out of 135,000; Transportation in of 60,000 and decrease in WIP of 80,000. The cost of direct materials used for the period is?

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 1CP

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The accounting records of ABC Corp shows the following: Increase of RM if 45,000; decrease din FG Inventory of 150,000; Purchases of raw materials of 1,290,000; Direct labor payroll of 600,000; Factory overhead of 900,000 (excludes indirect labor and indirect material of 10,000 and 20,000, respectively); Freight out of 135,000; Transportation in of 60,000 and decrease in WIP of 80,000. The cost of direct materials used for the period is?
The following information was taken from A Company’s accounting records for the current year: Decrease in raw materials – P500,000; Increase in goods in process inventory – P800,000; Decrease in finished goods inventory – P1,000,000; Raw materials purchased – P20,000,000; Direct labor payroll – P5,000,000; Factory overhead – P4,000,000; Freight out – P1,500,000; Freight in – P2,300,000 What is the cost of goods sold? [A] 32,000,000 [B] 33,500,000 [C] 30,000,000 [D] 30,600,000
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