1. JYD Manufacturing Company showed the followinginformation as of June 1, 2020;Raw materials inventoryWork in process inventoryFinished goods inventoryР320,000400,000350,000During the month of June, the following were incurredMaterials purchasedP170,000200,000Materials usedDirect labor400.000Factory OverheadAfter reviewing the quantities on hand, endinginventories were:210,000Work in process inventoryFinished goods inventory280,000430,000What is the raw materials inventory as of June 30, 2020?2. .JYD Manufacturing Company showed the followinginformation as of June 1, 2020;Raw materials inventoryWork in process inventoryFinished goods inventoryР320,000400,000350,000During the month of June, the following were incurredMaterials purchasedP170,000200,000Materials usedDirect labor400.000Factory OverheadAfter reviewing the quantities on hand, endinginventories were:210,000Work in process inventoryFinished goods inventory280,000430,000What is the total cost of goods manufactured during themonth?3. JYD Manufacturing Company showed the followinginformation as of June 1, 2020;Raw materials inventoryWork in process inventoryFinished goods inventoryP320,000400,000350,000During the month of June, the following were incurredMaterials purchasedP170,000200,000Materials usedDirect labor400.000Factory Overhead210,000A fter reviewing the quontities on hand onding After reviewing the quantities on hand, endinginventories were:Work in process inventoryFinished goods inventory280,000430,000What is the total cost of goods available for sale?4. JYD Manufacturing Company showed the followinginformation as of June 1, 2020;Raw materials inventoryWork in process inventoryFinished goods inventoryР320,000400,000350,000During the month of June, the following were incurredMaterials purchasedP170,000200,000Materials usedDirect labor400.000Factory OverheadAfter reviewing the quantities on hand, endinginventories were:210,000Work in process inventoryFinished goods inventory280,000430,000How much was the Cost of goods sold?5. Peter Senen Company has the following cost data as ofSept 1, 2020Materials purchasedP170,000200,000400,000210,00050,000Materials usedDirect laborFactory overheadOffice rentHow much is the total manufacturing costs?6. Peter Senen Company has the following cost data as ofSept 1, 2020Materials purchasedMaterials usedP170,000200,000400,000210,00050,000Direct laborFactory overheadOffice rentWhat is the total prime costs?7. Peter Senen Company has the following cost data as ofSept 1, 2020Materials purchasedP170,000200.000Materials used

"Since you have asked multiple questions, we will solve first question for you. If you want any…

Answered: 1. JYD Manufacturing Company showed the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

SHAMROCK COMPANY Balance Sheet (Partial) For the Year Ended June 30, 2022 ASSETS $ $ $
Hendrix & Franks Company had the following beginning and ending inventory balances for the current year ended December 31: Materials Work in Process Finished Goods $102,000 $97,500 $117,150 January 1 $128,500 $11,000 19,800 23,100 December 31 In addition, direct labor costs of $33,000 were incurred, manufacturing overhead equaled $46,200, materials purchased were $29,700, and selling and administrative costs were $24,200. Hendrix & Franks Co. sold 27,500 units of product during the year at a sales price of $5.25 per unit. What was the amount of cost of goods sold for the year? $ 8,800 18,700 18,150
A
P2-1 Orange Company showed the following information as of June 1, 2015: Raw materials inventory Goods in process inventory Finished goods P 320,000 400,000 350,000 During the month of June, the following were incurred: Materials purchased P 170,000 Materials used 200,000 Direct labor 400,000 Factory overhead 210,000 After reviewing the quantities on hand, ending inventories were: Goods in process inventory 280,000 Finished goods 430,000 Required: Calculate the following: Raw materials inventory as of June 30, 2015 Total goods manufactured during the month a. b. C. Goods available for sale d. Cost of goods sold
'. At the beginning of the year, Primer Manufacturing Company had the following balances in its inventory accounts: Raw Materials Php 100,000.00 Work in Process 232,000.00 Finished Goods 720,000.00 The work in process subsidiary ledger shows the following balances: Job 500 consists of Materials, Php 22,000.0O, direct labor Php 48,000.00, and factory overhead of Php 72,000.00. Job 600 consist of Php 15,000.00 Materials, 30,000.00 of direct labor, and 45,000.00 factory overhead. * The finished goods inventory contains Job 400 with a total cost of P320,000 and Job 300 with a total cost of P400,000. Summary of transactions for the 3-months ended Sept. 20, of the current year are given below: a. Raw materials purchased on cash, P450,000. b. Materials issued to production, P400,000, distributed as follows: Job. 500 (20%), Job 600 (25%), Job 700 (30%), Job 800(15%) and the balance represent factory supplies consumed. c. Labor costs for the period: Direct labor - P200,000 distributed as…
Coronado Industries's accounting records reflect the following inventories: Raw materials inventory Work in process inventory Finished goods inventory Dec. 31, 2020 O $2050000. $1910000. $2110000. $2010000. $310000 300000 190000 Dec. 31, 2019 $250000 160000 150000 During 2020, $800000 of raw materials were purchased, direct labor costs amounted to $670000, and manufacturing overhead incurred was $640000. Coronado Industries's total manufacturing costs incurred in 2020 amounted to
Brooks Corp. has the following information: Beginning Inventory (1/1) $20,000 $15,000 $30,000 Direct Materials Inventory Work in Process Inventory Finished Goods Inventory Additional information for the year is as follows: Direct materials purchases Direct labor Manufacturing overhead actual Manufacturing overhead applied Compute the cost of goods manufactured. O $235,000 O $245,000 O $242,000 Ending Inventory (12/31) $30,000 $18,000 $20,000 $255,000 $100,000 $75,000 $90,000 $80,000
At May 31, 2020, the account of Vaugh Company show the following. 1. May 1 Inventories-finished goods $14,300, work in process $15,100 and raw materials $8,900. 2. May 31 inventories-finished goods $9,600, work in process $16,100, and raw materials $7,600. 3. Debit posting to work in process were direct materials $62,800, direct labor $53,100, and manufacturing overhead applied $42,300. (Assume that overhead applied was equal to overhead incurred) 4. Sales revenue totaled $216,200 Prepare a condensed cost of goods manufactured schedule.
Required information [The following information applies to the questions displayed below.] The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Finished goods inventory, beginning Garcon Pepper Company Company $ $ 13,200 18,550 Work in process inventory, beginning 17,700 22,500 Raw materials inventory, beginning 7,700 14,100 Rental cost on factory equipment 31,000 24,100 Direct labor 24,200 43,800 Finished goods inventory, 19,700 13,800 ending Work in process inventory, ending 24,400 21,000 Raw materials inventory, ending 6,700 7,600 Factory utilities General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net 12,300 17,000 34,000 53,500 13,000 14,000 6,500 3,550 36,000 68,000 50,400 56,800 297,600 379,360 27,000 24,200 15,000 20,950 1. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the…
The following cost data pertains to DEF Inc. for December 31st, 2022: Ending Raw Materials Inventory: Beginning Work-in-Process: Ending Work-in-Process: Direct Materials Used: Direct Costs Incurred in Production: Indirect costs incurred in Production: Beginning Finished Goods Inventories: Ending Finished Goods Inventories: Sales: Selling and Administrative Expenses: Applied Overhead for the period: $50,000 $30,000 $15,000 $20,000 $40,000 $40,000 $40,000 $20,000 $190,000 $40,000 $40,000 The cost of goods sold for 2022 is $115,000 x. $137,000 $175,000 $135,000
At May 31, 2020, the accounts of Sheffield Company show the following. 1. May 1 inventories—finished goods $ 14,800, work in process $ 17,600, and raw materials $ 8,600. 2. May 31 inventories—finished goods $ 9,600, work in process $ 17,000, and raw materials $ 8,000. 3. Increases to work in process were direct materials $ 64,300, direct labor $ 51,400, and manufacturing overhead applied $ 42,100. 4. Sales revenue totaled $ 217,000. (a) Prepare a condensed cost of goods manufactured schedule for May 2020. SHEFFIELD COMPANYCost of Goods Manufactured Schedulechoose the accounting periodchoose the accounting period select an opening section nameselect an opening section name $ enter a dollar amountenter a dollar amount select an account titleselect an account title $ enter a dollar amountenter a dollar amount select an account titleselect an account title enter a dollar amountenter a dollar amount…
Don't give answer in image

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

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

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

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

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS