2. The following information is available for Amir Company. January 1, 2017 2017 December 31, 2017 Raw materials inventory R.O. 26,000 R.O. 30,000 Work in process inventory 13,500 22,200 Finished goods inventory 30,000 21,000 Materials purchased R.O.170,000 Direct labor 220,000 Manufacturing overhead 180,000 Instructions (a) Compute cost of goods manufactured. (b) Cost of Goods Sold

2. The following information is available for Amir Company. January 1, 2017 2017 December 31, 2017 Raw materials inventory R.O. 26,000 R.O. 30,000 Work in process inventory 13,500 22,200 Finished goods inventory 30,000 21,000 Materials purchased R.O.170,000 Direct labor 220,000 Manufacturing overhead 180,000 Instructions (a) Compute cost of goods manufactured. (b) Cost of Goods Sold

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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Prepare the Cost Statement for the year end February 2023 that shows the cost of goods manufactured and cost of sale using the the information provided
Subject : Accounting
answer letter k to o.
COGS?
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Required information [The following information applies to the questions displayed below.] Use the following selected account balances of Delray Manufacturing for the year ended December 31. Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Indirect labor Repairs-Factory equipment Rent cost of factory building Selling expenses General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending $ 1,250,000 37,000 53,900 62,700 175,600 225,000 47,000 23,000 57,000 94,000 129,300 42,700 41,500 67,300 Prepare its schedule of cost of goods manufactured for the year ended December 31.
4. Cost of goods manufactured for the year. 5. Finished Goods Inventory on December 31.
Monty Manufacturing Company reported the following materials data for the month ending April 30, 2016: Materials purchased RM123,900 Materials inventory, April 1 39,100 Materials inventory, April 30 32,600. Determine the cost of direct materials used in production by Monty during the month ended April 30, 2016 and also discuss economic order quantity(EOQ).
accounts
The T-accounts below provide selected data about Company J’s financial results for the year: Raw Materials Inventory Jan 1 bal. P22,500 ? Credits Debits P75,000 Dec. 31 bal P18,000 Finished Goods Jan 1 bal. P90,000 ? Credits Debits ? Dec. 31 bal P72,000 Factory Overhead Debits P111,000 ? Credits Work In Process Jan 1 bal. P52,500 P282,000 Credits Direct Materials P72,000 Direct Labor P90,000 Factory Overhead P112,500 Dec 31 Bal. ? Manufacturing Wages Payable Debits P111,000 P66,000 Jan 1 Bal P99,000 Credits Cost of Goods Sold Debits ? The Cost of Goods Sold is a.P282,000 b.P372,000 c.P300,000 d.P274,500
*need help with C please *
Requirement 1. Calculate direct materials inventory on August 31, 2022. Determine the formula and then calculate the direct materials inventory value at August 31, 2022. (Work in millions. Use a minus sign or parentheses for numbers to be subtracted.) Direct materials available for production Direct materials inventory, August 31, 2022 Requirement 2. Calculate fixed manufacturing overhead costs for August. (Work in millions. Use a minus sign or parentheses for numbers to be subtracted.) Fixed manufacturing overhead costs