2-61. Yolo Windows, a manufacturer of windows for commercial buildings, reports the following account information for last year (all costs are in thousands of dollars). Information on January 1 (Beginning): Direct materials inventory Work-in-process inventory Finished goods inventory Information for the year: Administrative costs Direct labor Direct materials purchases Factory and machine depreciation Factory supervision Factory utilities Indirect factory labor Indirect materials and supplies Marketing costs Property taxes on factory Sales revenue Information on December 31 (Ending): Direct materials inventory Work-in-process inventory Finished goods inventory $ 36 48 656 $ 1,440 4,240 3,280 4,640 840 360 EA 1,120 280 600 112 18,160 32 56 588 Question 5: Compute Cost of Direct Materials Used Question 6: Compute Manufacturing Overhead Question 7: Compute Total Manufacturing Cost Incurred. Question 8: Compute the cost of goods manufactured during the year. Question 9: Compute the cost of goods sold during the year.

2-61. Yolo Windows, a manufacturer of windows for commercial buildings, reports the following account information for last year (all costs are in thousands of dollars). Information on January 1 (Beginning): Direct materials inventory Work-in-process inventory Finished goods inventory Information for the year: Administrative costs Direct labor Direct materials purchases Factory and machine depreciation Factory supervision Factory utilities Indirect factory labor Indirect materials and supplies Marketing costs Property taxes on factory Sales revenue Information on December 31 (Ending): Direct materials inventory Work-in-process inventory Finished goods inventory $ 36 48 656 $ 1,440 4,240 3,280 4,640 840 360 EA 1,120 280 600 112 18,160 32 56 588 Question 5: Compute Cost of Direct Materials Used Question 6: Compute Manufacturing Overhead Question 7: Compute Total Manufacturing Cost Incurred. Question 8: Compute the cost of goods manufactured during the year. Question 9: Compute the cost of goods sold during the year.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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