The following data were taken from the records of CBD manufacturing company: > Depreciation on factory equipment, P1,000 > Depreciation on sales office, P500 > Advertising, P7,000 > Shipping charges (Freight-out), P3,000 > Wages of production workers, P28,000 > Raw materials used, P47,000 > Sales salaries and commissions, P10,000 > Factory rent, P2,000 > Factory insurance, P500 > Materials handling, P1,500 > Administrative salaries, P2,000 Based upon this information, the manufacturing cost incurred during the year was: A. P18,500 B. P80,500 C. P83,000 D. P80,000

Q: Beginning $50,000 Ending $25,000 65,000 Inventories Materials Work in process Finished goods 100,000…

A: Cost of goods manufactured includes the direct expenses incurred on the manufacture of product.

Q: Concord Corporation has the following account balances at year end: Office supplies $ 3900 Raw…

A: Inventory: It can be defined as all the goods, items, materials, and merchandise that are held by a…

Q: The following information was taken from Cavite Company's accounting records for the year ended…

A: The cost of goods sold is the entire cost allocated to the units sold.

Q: Freeman Furnishings has summarized its data as shown: Depreciation of factory building $109,500…

A: Cost of goods manufactured is an important component of cost sheet in this component the total cost…

Q: What was Albay's cost of goods sold? Albay Company incurred the following costs and expense during…

A: The cost of goods sold is calculated as difference between total cost of goods available for sale…

Q: Spades Company provided the following information for the year ended December 31, 2022: Sales…

A: Inventory can be classified into finished goods inventory, work-in-process inventory. Inventory…

Q: Suppose that the following table shows the financial data of a manufacturing company at the…

A: Cost of direct materials used in production  = Beginning raw material + raw material purchased -…

Q: 3. Below is information pertaining to The Lime Green Wasp Corporation for the current year. On a…

A: Income statement shows the net income of the company and it is the difference between total revenue…

Q: Prepare the current assets section of the balance sheet at June 30, 2022. (LIst Current Assets in…

A: Current assets means the assets which can be easily convertible in to cash generally with in one…

Q: Ryan Corporation incurred the following costs while manufacturing its product. Materials used in…

A: 1 MATERIAL USED IN PRODUCT DIRECT MATERIAL 2 DEPRECIATION ON PLANT MANUFACTURING OVERHEAD 3…

Q: Doenjang Jjigae Manufacturing Company has the following account balances at year end: Office…

A: Prepaid insurance is insurance paid in advance and not part of inventory.

Q: The following cost data were taken from the records of JGG manufacturing company: Depreciation on…

A: The following cost data were taken from the records of JGG manufacturing company: Depreciation on…

Q: Redillas Corporation's 2021 manufacturing costs were as follows: Prime costs P 430,000 Depreciation…

A: Inventory means the stock of goods in which the businessmen deals. For the purpose of valuation of…

Q: 2. The following information taken from Jejai Limited: Particulars Debit RM Credit RM Purchase of…

A:

Q: The following data refer to Twisto Pretzel Company for the year 20x1.      Work-in-process…

A: Cost of goods sold means the direct cost of producing the product/goods sold by the company.

Q: Freeman Furnishings has summarized its data as shown: Depreciation of factory building $116,000…

A: It is nothing but the total amount of expenditure incurred to by the company to convert the…

Q: The following information was taken from ABC Company’s accounting records for the year ended…

A: Cost of goods sold consists of all direct costs that are incurred on production and manufacturing of…

Q: An entity provided the following information for the current year: Increase in raw materials…

A: Cost of goods sold(COGS) implies for the amount of outlay made on making the goods which are sold in…

Q: The following information was taken from Cristine Company's accounting records for the current year:…

A: Cost of goods sold = Cost of goods manufactured + Decrease in finished goods inventory Cost of goods…

Q: Hye-Jin Corporation recently used P72,000 of direct materials and P3,000 of indirect materials in…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: Consider the following information for Huntersville Inc. for the fiscal year ended December 31.…

A: Schedule of Cost of goods manufactured Direct materials:     Beginning raw material inventory…

Q: Black Mink Manufacturing Company has the following account balances at year end: Office Supplies-…

A: Ending Inventory of a manufacturing company will include Raw Materials, Work in Process and Finished…

Q: Freeman Furnishings has summarized its data as shown: Depreciation of factory building $109,500…

A: Predetermined Overhead Rate = Estimated Overhead / Estimated Direct Labor HoursPredetermined…

Q: The following cost and inventory data are taken from the accounting records of Mason Company for the…

A: A. Cost of goods manufactured - Cost of Goods Manufactured is the total cost incurred to…

Q: 2. The following information taken from Jejai Limited: Particulars Debit Credit RM RM Purchase of…

A:

Q: Tom Corporation Tom Corporation incurred the following costs while manufacturing its product.…

A: Manufacturing overheads = Factory supplies used +Depreciation on plant  + Property taxes on store…

Q: The following information relates to Webster Inc.:   Advertising Costs $10,270 Administrative…

A: Period Costs are those which are not added to the product cost and taken as a whole amount in the…

Q: The Dewaan Manufacturing Co. present the following information for the year ended 31st December 1999…

A: The income statement is prepared at the end of an accounting period to calculate the amount of loss…

Q: Spades Company provided the following information for the year ended December 31, 2022: Sales…

A: The cost of goods sold seems to be the overall cost incurred in the manufacturing of the goods or…

Q: Doenjang Jjigae Manufacturing Company has the following account balances at year end: Office…

A: Inventory value includes raw material, work in progress, and finished goods. All three should be…

Q: The Genesis Corporation has the following account balances (in millions): For Specific Date Direct…

A: A financial statement could be a plan that shows you the company's financial gain and expenditures.…

Q: 2. The following information taken from Jejai Limited: Particulars Debit Credit RM RM Purchase of…

A: Financial statements are prepared to estimate the correct profit or loss incurred by the company.…

Q: The following information relates to a company G6 Ltd for the year ended 30 June 2020: Transaction…

A:

Q: 3. Synder Corp., a lamp manufacturer, provide the following information for the year ended December…

A: The question is based on the concept of Cost Accounting.

Q: The following cost data were taken from the records of a manufacturing company: Depreciation on…

A: Manufacturing costs are costs that are incurred for production and manufacturing of goods.

Q: The following information were taken from the accounting records of BLUE Corporation for the year…

A: Total manufacturing costs = Raw materials used + Freight in + Direct labor + Factory overhead where,…

Q: Prepare an Income Statement for the ff data of EH Corporation: Selling Expenses          70,000.00…

A: Income statement of the business shows all income and expenses of the business. Then at the end of…

Q: 3. The following costs were accrued for employee services: direct labor, $75,000; indirect labor,…

A: Answer 1) Predetermined Overhead Rate = Total Mnaufacturing Overhead / Machine-hours…

Q: Glavine Corporation incurred the following costs while manufacturing its product. Materials used in…

A: In order to determine the cost of goods sold, the opening stock of finished goods is required to be…

Q: Tamarisk Corporation incurred the following costs during 2022. Direct materials used in product…

A: Cost of goods manufactured = Total manufacturing costs + Beginning work in process - Closing work in…

Q: 5. Payton Corporation provided the following information for the year: Beginning…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: The Putney Company reports the following information: Sales $76,500 Cost of direct materials used…

A: 1. Compute the product costs: Particulars Amount ($) Cost of direct material $7,300…

Q: Q1. Presented below account balances of One Company at December31, 2007 Inventories january1…

A: Solution- 1-                                                          Manufacturing Account…

Q: he following cost data were taken from the records of A Manufacturing Company: Depreciation on…

A: Total manufacturing costs in the business means total costs incurred for the production or…

Q: Christian Company provided the following data for the current year: Sales Sales salaries Advertising…

A: The gross profit is calculated as difference between sales and cost of goods sold. The net profit is…

Q: The following has been extracted from the financial statements of Rowett: Statement of profit or…

A:

Q: The following cost data were taken from the records of a manufacturing company: Depreciation on…

A: Manufacturing costs are the costs which are incurred during the process of production of a product…

Q: he following balances have been taken from the general ledger for Pak Fan Manufacturing Company:…

A: Solution: Cost of inventory in process = opening inventory + purchase + direct expenses - closing…

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.