DQLSel2aduwPvlz FI5p4YPqtm2fvklcVkdFKmgEUGNwOFpSlpJg/formResponseC Expo 2002CExpo Bodhi AmaalaTatweerMashroatIMCTC diX Company reported the following year-end information:Beginning Raw Materials Inventory$80,000Ending Raw Materials Inventory70,000Beginning Work in Process Inventory125,000Ending Work in Process Inventory156,000Raw Materials purchased100,000Direet labor210,000Manufacturing Overhead530,000Selling and Admmistrative Expenses157,000Refer to the above. what was the cost of raw materials used?$90,000$130,000$110.000None of the above Sel2aduwPvlz_FI15p4YPqtm2fvklcVkdFKmgEUGNwOFpSlpJg/formResponseC Expo 2002CExpo Bodhi C Amaala C Tatweer Mashroat C IMCTC directRefer to the above, the company's total manufacturing cost was: "$975,000$850,000$986,000None of the aboveRefer to the above, how much would the company report for cost of goodsmanufactured?S694.000S819,000s881,000None of the above

Name: DQLSel2aduwPvlz FI5p4YPqtm2fvklcVkdFKmgEUGNwOFpSlpJg/formResponseC Ex
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Description: DQLSel2aduwPvlz FI5p4YPqtm2fvklcVkdFKmgEUGNwOFpSlpJg/formResponseC Expo 2002CExpo Bodhi AmaalaTatweerMashroatIMCTC diX Company reported the following year-end information:Beginning Raw Materials Inventory$80,000Ending Raw Materials Inventory70,000Be

Cost of direct material used = Beginning raw material inventory + Raw materials purchased - Closing…

Business

Accounting

X Company reported the following year-end information: Beginning Raw Materials Inventory $80,000 Ending Raw Materials Inventory 70,000 Beginning Work in Process Inventory 125,000 Ending Work in Process Inventory 156,000 Raw Materials purchased 100,000 Dircet labor 210,000 Manufacturing Overhead 530,000 Selling and Admmistrative F xpenses 157,000 Refer to the above. what was the cost of raw materials used? $90,000 O $130,000 $110.000 None of the above

X Company reported the following year-end information: Beginning Raw Materials Inventory $80,000 Ending Raw Materials Inventory 70,000 Beginning Work in Process Inventory 125,000 Ending Work in Process Inventory 156,000 Raw Materials purchased 100,000 Dircet labor 210,000 Manufacturing Overhead 530,000 Selling and Admmistrative F xpenses 157,000 Refer to the above. what was the cost of raw materials used? $90,000 O $130,000 $110.000 None of the above

Accounting

27th Edition

ISBN:9781337272094

Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Chapter20: Process Cost Systems

Section: Chapter Questions

Problem 20.1APR: Entries for process cost system Pori Ormond Carpel Company manufactures carpets. Fiber is placed in...

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T2-7 Assign costs to completed units and ending Work in Process Inventory (LO 4) Monk, Inc. reported the following results for the month of November. Units Materials Conversion Work in Process Beginning inventory ? $ 5,900 $15,000 Added to production ? 47,300 65,000 Completed and transferred out ? ? ? Ending inventory 40,000 60% complete 40% complete Cost per equivalent unit $0.40 $0.64 Questions a.How many units were completed and transferred out of Work in Process Inventory? b.What cost should be assigned to the units transferred out of Work in Process Inventory? c.What cost should be assigned to the ending Work in Process Inventory?
Coronado Industries reported the following year-end information: Beginning work in process inventory $ 56000 Beginning raw materials inventory 32000 Ending work in process inventory 59000 Ending raw materials inventory 28000 Raw materials purchased 930000 Direct labor 440000 Manufacturing overhead 100000 How much is Coronado’s cost of goods manufactured for the year? $1471000 $1477000 $1474000 $934000
48.The following quarterly cost data have been accumulated for Jeokha Mfg. Inc. Raw materials – beginning inventory (Jan. 1, 2020) 10,000 units @P6.00 Purchases 8,500 units @P7.00 11,000 units @P7.50 Transferred 21,500 units of raw materials to work in process: Work in process – beginning inventory (Jan. 1, 2020) 5,600 units @P13.50 Direct labor P250,000 Manufacturing over head P325,000 Work in process – ending inventory (Mar. 31, 2020) 4,200 units @P13.75 If Jeokha uses the FIFO method for valuing raw materials inventories, compute for the cost of goods manufactured for the quarter ended Mar. 31 2020
Bubba Manufacturing Company provided the following information for the fiscal year toJune 30, 2020:Inventories 01/07/2019 30/06/2020Direct MaterialsWork-in-ProcessFinished Goods$72,000107,000149,500$65,000128,000141,700Other information:Office cleaner’s wages 4,500Sales Revenue 1,031,000Raw materials purchased 235,000Factory wages 239,700Indirect materials 23,500Delivery truck driver’s wages 15,400Indirect labor 9,500Depreciation on factory plant & equipment 32,000Insurance 1 60,000Depreciation on delivery truck 7,250Utilities 2 118,750Administrative salaries 41,250Special Design Costs 5,000Selling expenses 9,000Sales Commission 2% of gross profit1 Of the total insurance, 66⅔% relates to the factory facilities & 33⅓% relates to general& administrative costs.2 Of the total utilities, 80% relates to the manufacturing facilities & 20% relates to theoffice area.Requirements:a) What was the amount of direct materials used in production?b) What was the amount of manufacturing…
Marigold Corp. developed the following data for the current year: Beginning work in process inventory $310000 Direct materials used 204000 Actual overhead 348000 Overhead applied 276000 Cost of goods manufactured 324000 Total manufacturing costs 910000 Marigold Corp.'s ending work in process inventory is $896000. $276000. $600000. $586000.
Bramble Corp. developed the following data for the current year: Beginning work in process inventory $290000 Direct materials used 184000 Actual overhead 328000 Overhead applied 256000 Cost of goods manufactured 304000 Total manufacturing costs 850000 Bramble Corp.'s ending work in process inventory is $256000. $560000. $546000. $836000.
Choos the correct letter of answer: Beginning work in process was P125,000. Manufacturing costs incurred for the month were P835,000. There were P200,000 of partially finished goods remaining in work in process inventory at the end of the month. What was the cost of goods manufactured during the month?A. P1,160,000B. P 910,000C. P 760,000D. Cannot be determined. Beginning finished goods inventory wasP130,000. The cost of goods manufacturedfor the month was P760,000. And the endingfinished goods inventory was P150,000.What was the cost of goods sold for themonth?A. P 20,000.B. P740,000.C. P780,000.D. P760,000.
Q7. Suppose a company manufactures and sells a chemical product. The company processes the product in two departments. The March production data for Department B is: Beginning WIP 0 Units started this period 11,000 Units completed and transferred 9,000 Ending WIP units 2,000 Direct materials $1,100 Direct labor $2,880 Applied overhead $8,880 a) Show the physical flow of units. The 2,000 units in ending inventory are 40% complete as to conversion costs. b) Calculate the equivalent units for materials, labor and overhead. Hint: Show both materials and conversion.
Hw.75. Arturo Manufacturing Company provided the following information for the year 2012: Beginning balance—work in process inventory $12,000 Ending balance—work in process inventory $28,000 Beginning balance—direct materials inventory $42,000 Ending balance—direct materials inventory $30,000 Purchases—direct materials $180,000 Direct labor $235,000 Indirect materials $23,500 Indirect labor $9,500 Depreciation on factory plant & equipment $12,000 Plant utilities & insurance $135,000 Requirements: a) What was the amount of direct materials used in production? b) What was the amount of manufacturing overhead costs? c) What was the amount of manufacturing costs incurred during the year? d) What was the amount of the cost of goods manufactured for the year?
T2-5 Calculate equivalent units Sury Company reported the following information for the month of April: Units Work in Process Beginning inventory, April 1 8,000 Added to production 45,000 Completed and transferred out ? Ending inventory, April 30 5,000 Ending inventory was 100% complete with respect to materials and 80% complete with respect to conversion costs. Questions: a.How many units were transferred out of Work in Process Inventory? b.What were the equivalent units of production for materials? c.What were the equivalent units of production for conversion?
LBC’s beginning work-in-process inventory is P 376,000, ending work-in-process inventory is P 440,000, cost of goods manufactured is P 1.700,000, and direct materials used are P 324,000. What are the conversion costs? A) 1,960,000 B) 1,440,000 C)1.312,000 D) 1.376,000
Goo Company accumulated the following data for the current year: Rawmaterials — beginning inventory 90 000 units @ P7.00 Purchases 75,000 units @ P8.00 Purchases 120,000 units @ P8.50 The entity transferred 195,000 units of raw materials to work in process during the Year. Work in process — beginning inventory 50,000 units @ P14.00 Direct labor 3,100,000 Manufacturing overhead 2,950,000 Work in process — ending inventory 48,000 units @ P15.00 1. The entity used the FIFO method for valuing inventory. What is the cost of raw materials used? 2. Refer to Goo Company. What is the total manufacturing cost? 3. Refer to Goo Company. What is the cost of goods manufactured for the current year?