1. Renka's Heaters selected data for October 2014 are presented here (in millions): $ 105 Direct materials inventory 10/1/2014 Direct materials purchased 365 385 Direct materiais used 450 Total manufacturing overhead costs Variable manufacturing overhead costs Total manufacturing costs incurred during October 2014 Work-in-process inventory 10/1/2014 Cost of goods manufactured Finished goods inventory 10/1/2014 Cost of goods sold 265 1,610 230 1,660 130 1,770 Calculate the following costs: [A] Direct materials inventory 10/31/2014 [B] Fixed manufacturing overhead costs for October 2014 [C] Direct manufacturing labour costs for October 2014

1. Renka's Heaters selected data for October 2014 are presented here (in millions): $ 105 Direct materials inventory 10/1/2014 Direct materials purchased 365 385 Direct materiais used 450 Total manufacturing overhead costs Variable manufacturing overhead costs Total manufacturing costs incurred during October 2014 Work-in-process inventory 10/1/2014 Cost of goods manufactured Finished goods inventory 10/1/2014 Cost of goods sold 265 1,610 230 1,660 130 1,770 Calculate the following costs: [A] Direct materials inventory 10/31/2014 [B] Fixed manufacturing overhead costs for October 2014 [C] Direct manufacturing labour costs for October 2014

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Question

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1. Renka's Heaters sefected data for October 2014 are presented here (in millions):
$ 105
Direct materials inventory 10/1/2014
Direct materials purchased
365
385
Direct materiais used
450
Total manufacturing overhead costs
Variable manufacturing overhead costs
Total manufacturing costs incurred during October 2014
Work-in-process inventory 10/1/2014
Cost of goods manufactured
Finished goods inventory 10/1/2014
Cost of goods sold
265
1,610
230
1,660
130
1,770
Calculate the following costs:
[A] Direct materials inventory 10/31/2014
[B] Fixed manufacturing overhead costs for October 2014
(C] Direct manufacturing labour costs for October 2014
DĮ Work-in-process inventory 10/31/2014
E Cost of finished gosds available for sale in October 2014
F] Finiched gds inventory 10/31/2014

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