Bremen Fitness Products produces a sports drink. On October 1, it had no work-in-process inventory. It started production of 13,800 cases of the drink in October and shipped 10,200 cases to retailers. (Bremen holds no finished goods inventory.) The costs of the resources used by Bremen in October consist of the following. Materials Conversion costs (labor and overhead) $ 87,523 247,427 Required: The production supervisor estimates that the ending work in process is 55 percent complete on October 31. Compute the cost of cases shipped and the amount in work-in-process ending inventory as of October 31. Note: Do not round intermediate calculations. Cost of cases shipped

Bremen Fitness Products produces a sports drink. On October 1, it had no work-in-process inventory. It started production of 13,800 cases of the drink in October and shipped 10,200 cases to retailers. (Bremen holds no finished goods inventory.) The costs of the resources used by Bremen in October consist of the following. Materials Conversion costs (labor and overhead) $ 87,523 247,427 Required: The production supervisor estimates that the ending work in process is 55 percent complete on October 31. Compute the cost of cases shipped and the amount in work-in-process ending inventory as of October 31. Note: Do not round intermediate calculations. Cost of cases shipped

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter5: Process Cost Accounting—general Procedures

Section: Chapter Questions

Problem 9E: AAA Appliances Inc. has two production departments. The nature of the process is such that no units...

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Rulers Company is a neon sign company that estimated overhead will be $60,000, consisting of 1,500 machine hours. The cost to make Job 416 is $95 in neon, 15 hours of labor at $13 per hour, and five machine hours. During the month, it incurs $95 in indirect material cost, $130 in administrative labor, $320 in utilities, and $350 in depreciation expense. What is the predetermined overhead rate if machine hours are considered the cost driver? What is the cost of Job 416? What is the overhead incurred during the month?
AAA Appliances Inc. has two production departments. The nature of the process is such that no units remain in process in Finishing at the end of the period. At the beginning of the period, 10,000 units with a cost of 30,000 were transferred from Assembly to Finishing. Finishing incurred costs of 8,800 for materials, 7,200 for labor, and 8,800 for factory overhead, and finished 10,000 units during the month. a. Determine the unit cost for the month in Finishing. b. Determine the unit cost of the products transferred to finished goods.
Bremen Fitness Products produces a sports drink. On October 1, it had no work-in-process inventory. It started production of 9,000 cases of the drink in October and shipped 7,800 cases to retailers. (Bremen holds no finished goods inventory.) The costs of the resources used by Bremen in October consist of the following. Materials $ 87,523 Conversion costs (labor and overhead) 134,975 Required: The production supervisor estimates that the ending work in process is 55 percent complete on October 31. Compute the cost of cases shipped and the amount in work-in-process ending inventory as of October 31. (Do not round intermediate calculations.)
Joplin Corporation produces syrups that it sells to candy makers. On November 1, it had no work-in-process inventory. It started production of 43,300 gallons of syrup in November and completed production of 41,000 gallons. The costs of the resources used by Joplin in November consist of the following: Materials $ 47,512 Conversion costs (labor and overhead) 54,200 Required: The production supervisor estimates that the ending work-in-process is 60 percent complete on November 30. Compute the cost of syrup completed and the cost of the syrup in work-in-process ending inventory as of November 30. (Do not round intermediate calculations.)
Deliver Company produces and sells only two products that are referred to as ROMS and PLATS. Production is “for order" only, and no finished goods inventories are maintained; work in process inventories are negligible. The following data have been extracted relating to last month: ROMS PLATS Sales Manufacturing costs: Materials Labor Overhead Selling expenses Administrative expenses An analysis has been made of the manufacturing overhead. Although the items listed above are traceable to the products, $37,050 of the overhead assigned to ROMS and $76,000 of that assigned to PLATS is fixed. The balance of the overhead is variable. Selling expenses consist entirely of commissions paid as a percentage of sales. Direct labor is completely variable. Administrative expenses in the data above are fixed and cannot be traced to the products but have been arbitrarily allocated to the products. $190,000 $190,000 $19,000 $58,900 $74,100 $26,000 $51,900 $87,000 $9,500 $18,000 $17,100 $12,000…
Joplin Corporation produces syrups that it sells to candy makers. On November 1, it had no work-in-process inventory. It started production of 45,900 gallons of syrup in November and completed production of 44,000 gallons. The costs of the resources used by Joplin in November consist of the following: Materials $ 67,578 Conversion costs (labor and overhead) 54,300 Required: The production supervisor estimates that the ending work-in-process is 60 percent complete on November 30. Compute the cost of syrup completed and the cost of the syrup in work-in-process ending inventory as of November 30. (Do not round intermediate calculations.) Cost of syrup completed Work-in-process ending inventory
Joplin Corporation produces syrups that it sells to candy makers. On November 1, it had no work-in-process inventory. It started production of 43,500 gallons of syrup in November and completed production of 41,000 gallons. The costs of the resources used by Joplin in November consist of the following: Materials $ 57,200 Conversion costs (labor and overhead) 53,300 Required: The production supervisor estimates that the ending work-in-process is 60 percent complete on November 30. Compute the cost of syrup completed and the cost of the syrup in work-in-process ending inventory as of November 30.
Hello, Hello, Sorry I submitted this question earlier but one of my figures was incorrect. My error. Buck and Company incurred the following costs during August: Raw materials purchased $41,440 Direct labor ($13.6 per hour) 60,384 Manufacturing overhead (actual) 90,420 Selling expenses 31,890 Administrative expenses 14,070 Interest expense 6,112 Manufacturing overhead is applied on the basis of $20 per direct labor hour. Assume that overapplied or underapplied overhead is transferred to the cost of goods sold only at the end of the year. During the month, 4120 units of product were manufactured and 4,400 units of product were sold. On August 1 and August 31, Buck and Company carried the following inventory balances. August 1 August 31 Raw materials $19,000 $17,800 Work in progress 53,000 56,000 Finished goods 40,100 27,267 Question a-1: Prepare a statement of costs of goods manufactured for…
How I can Resolve this problem? Bottum Corporation, a manufacturing Corporation, has provided data concerning its operations for May. The beginning balance in the raw materials account was $23,500 and the ending balance was $43,000. Raw materials purchases during the month totaled $70,000. Manufacturing overhead cost incurred during the month was $114,500, of which $2,700 consisted of raw materials classified as indirect materials. The direct materials cost for May was:
Swifty Manufacturing produces industrial light fixtures. For the year, management estimated that total manufacturing overhead would be $ 1120000. Management decided to use direct labor hours to apply manufacturing overhead and budgeted 144700 direct labor hours. The following information was compiled before an adjustment had been made to close Manufacturing Overhead Control: Raw Materials Inventory $ 124300 Workin Process Inventory 464170 Finished Goods Inventory 432820 Cost of Goods Sold 2340000 For the year, manufacturing overhead was overapplied by $ 334000. If Swifty prorates the overapplied overhead, what is the ending balance of Cost of Goods Sold? (Round intermediate calculations to 4 decimal places.)
PVW Company manufactures products to customer specifications. A job costing system is used to accumulate production costs. During the month of September, an order (Job X2) by a customer comprised 5,000 units of the product; manufacturing cost is $5.00 per unit. The processing of this job, however, resulted in spoilage of 400 units, considered normal with no disposal value, attributable to this specific job. Required: How will you account for the above transaction, for example, in a journal entry? Determine the unit cost showing computations.
How can resolve this problem? The Polaris Company uses a job-order costing system. The following transactions occurred in October: Raw materials purchased on account, $210,000. Raw materials used in production, $191,000 ($152,800 direct materials and $38,200 indirect materials). Accrued direct labor cost of $49,000 and indirect labor cost of $21,000. Depreciation recorded on factory equipment, $105,000. Other manufacturing overhead costs accrued during October, $129,000. The company applies manufacturing overhead cost to production using a predetermined rate of $10 per machine-hour. A total of 76,100 machine-hours were used in October. Jobs costing $513,000 according to their job cost sheets were completed during October and transferred to Finished Goods. Jobs that had cost $450,000 to complete according to their job cost sheets were shipped to customers during the month. These jobs were sold on account at 34% above cost. Required: 1. Prepare journal entries to record the…