The following information is taken from the accounting records of four different companies. Provide the missing amounts. Assume there are no indirect materials used in the company’s finished product. Company 1 Company 2 Company 3 Company 4 Direct Materials Inventory, beginning $14,000 $enter a dollar amount $4,000 $125,500 Purchases of direct materials enter a dollar amount 90,200 50,600 220,800 Total direct materials available for use 390,000 101,300 enter a dollar amount enter a dollar amount Direct Materials Inventory, ending 24,000 enter a dollar amount enter a dollar amount 34,600 Direct materials used in production enter a dollar amount 71,200 enter a dollar amount enter a dollar amount Direct labor 212,000 enter a dollar amount 25,000 324,400 Total manufacturing overhead 254,400 94,500 64,300 enter a dollar amount Total manufacturing cost enter a dollar amount 190,000 138,300 913,200 Work in Process Inventory, Beginning enter a dollar amount 145,500 38,000 enter a dollar amount Work in Process Inventory, Ending 48,000 43,700 enter a dollar amount 47,100 Cost of goods manufactured 814,400 enter a dollar amount 103,450 920,300 Finished Goods Inventory, beginning 35,000 enter a dollar amount enter a dollar amount 36,000 Cost of goods available for sale enter a dollar amount 393,000 140,050 enter a dollar amount Finished Goods Inventory, ending enter a dollar amount 12,600 enter a dollar amount 42,100 Cost of Goods Sold $796,400 $enter a total amount $108,400 $enter a total amount
The following information is taken from the accounting records of four different companies. Provide the missing amounts. Assume there are no indirect materials used in the company’s finished product. Company 1 Company 2 Company 3 Company 4 Direct Materials Inventory, beginning $14,000 $enter a dollar amount $4,000 $125,500 Purchases of direct materials enter a dollar amount 90,200 50,600 220,800 Total direct materials available for use 390,000 101,300 enter a dollar amount enter a dollar amount Direct Materials Inventory, ending 24,000 enter a dollar amount enter a dollar amount 34,600 Direct materials used in production enter a dollar amount 71,200 enter a dollar amount enter a dollar amount Direct labor 212,000 enter a dollar amount 25,000 324,400 Total manufacturing overhead 254,400 94,500 64,300 enter a dollar amount Total manufacturing cost enter a dollar amount 190,000 138,300 913,200 Work in Process Inventory, Beginning enter a dollar amount 145,500 38,000 enter a dollar amount Work in Process Inventory, Ending 48,000 43,700 enter a dollar amount 47,100 Cost of goods manufactured 814,400 enter a dollar amount 103,450 920,300 Finished Goods Inventory, beginning 35,000 enter a dollar amount enter a dollar amount 36,000 Cost of goods available for sale enter a dollar amount 393,000 140,050 enter a dollar amount Finished Goods Inventory, ending enter a dollar amount 12,600 enter a dollar amount 42,100 Cost of Goods Sold $796,400 $enter a total amount $108,400 $enter a total amount
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 21E: Ellerson Company provided the following information for the last calendar year: During the year,...
Related questions
Question
The following information is taken from the accounting records of four different companies. Provide the missing amounts. Assume there are no indirect materials used in the company’s finished product.
Company 1
|
Company 2
|
Company 3
|
Company 4
|
||||||
---|---|---|---|---|---|---|---|---|---|
Direct Materials Inventory, beginning
|
$14,000 | $enter a dollar amount | $4,000 | $125,500 | |||||
Purchases of direct materials
|
enter a dollar amount | 90,200 | 50,600 | 220,800 | |||||
Total direct materials available for use
|
390,000 | 101,300 | enter a dollar amount | enter a dollar amount | |||||
Direct Materials Inventory, ending
|
24,000 | enter a dollar amount | enter a dollar amount | 34,600 | |||||
Direct materials used in production
|
enter a dollar amount | 71,200 | enter a dollar amount | enter a dollar amount | |||||
Direct labor
|
212,000 | enter a dollar amount | 25,000 | 324,400 | |||||
Total manufacturing overhead
|
254,400 | 94,500 | 64,300 | enter a dollar amount | |||||
Total
|
enter a dollar amount | 190,000 | 138,300 | 913,200 | |||||
Work in Process Inventory, Beginning
|
enter a dollar amount | 145,500 | 38,000 | enter a dollar amount | |||||
Work in Process Inventory, Ending
|
48,000 | 43,700 | enter a dollar amount | 47,100 | |||||
Cost of goods manufactured
|
814,400 | enter a dollar amount | 103,450 | 920,300 | |||||
Finished Goods Inventory, beginning
|
35,000 | enter a dollar amount | enter a dollar amount | 36,000 | |||||
Cost of goods available for sale
|
enter a dollar amount | 393,000 | 140,050 | enter a dollar amount | |||||
Finished Goods Inventory, ending
|
enter a dollar amount | 12,600 | enter a dollar amount | 42,100 | |||||
Cost of Goods Sold
|
$796,400 | $enter a total amount | $108,400 | $enter a total amount |
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,