A partial listing of costs incurred during December at Ganger Corporation appears below: Factory supplies Administrative wages and salaries Direct materials Sales staff salaries Factory depreciation $8,000 $105,000 $153,000 $68,000 $49,000 Corporate headquarters building rent $34,000 Indirect labor Marketing Direct labor $32,000 $103,000 $83,000 The total of the period costs listed above for December is

A partial listing of costs incurred during December at Ganger Corporation appears below: Factory supplies Administrative wages and salaries Direct materials Sales staff salaries Factory depreciation $8,000 $105,000 $153,000 $68,000 $49,000 Corporate headquarters building rent $34,000 Indirect labor Marketing Direct labor $32,000 $103,000 $83,000 The total of the period costs listed above for December is

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 21E: Ellerson Company provided the following information for the last calendar year: During the year,...

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In October, the cost of materials transferred into the Rolling Department from the Casting Department of Kraus Steel Company is 3,000,000. The conversion cost for the period in the Rolling Department is 462,600 (275,000 factory overhead applied and 187,600 direct labor). The total cost transferred to Finished Goods for the period was 3,392,400. The Rolling Department had a beginning inventory of 163,800. a. Journalize for the Rolling Department (1) the cost of transferred-in materials, (2) the conversion costs, and (3) the costs transferred out to Finished Goods. b. Determine the balance of Work in ProcessRolling at the end of the period.
During March, the following costs were charged to the manufacturing department: $22,500 for materials; $45,625 for labor; and $50,000 for manufacturing overhead. The records show that 40,000 units were completed and transferred, while 10,000 remained in ending inventory. There were 45,000 equivalent units of material and 42,500 units of conversion costs. Using the weighted-average method, prepare the companys process cost summary for the month.
Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Required: 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. Calculate the unit manufacturing cost. 3. Of the unit manufacturing cost calculated in Requirement 2, 2.70 is direct materials and 5.30 is overhead. What is the prime cost per unit? Conversion cost per unit?
Baldwin Printing Company uses a job order cost system and applies overhead based on machine hours. A total of 150,000 machine hours have been budgeted for the year. During the year, an order for 1,000 units was completed and incurred the following: The accountant computed the inventory cost of this order to be 4.30 per unit. The annual budgeted overhead in dollars was: a. 577,500. b. 600,000. c. 645,000. d. 660,000.
The following cost data relate to the manufacturing activities of Green Company Manufacturing overhead costs incurred during the year: Indirect labor P118,000 Depreciation, factory 48,000 Insurance, factory 12,000 Utilities, factory 10,000 Property taxes 9,000 Total actual costs P197,000 Other costs incurred during the year: Purchases of raw materials Direct labor cost P256,000 320,000 Inventories: Raw materials, January 1 Raw materials, December 31 Work in process, January Work in process, December 31 P16,000 14,000 12,000 15,000 The company uses a predetermined overhead rate to charge overhead cost to production. The rate for the year was P20 per machine-hour; a total of 10,000 machine-hours was recorded for the year. Required Compute the amount of under or over applied overhead cost for the year. Prepare a schedule of cost of goods manufactured for the year.
The following cost data relate to the manufacturing activities of Chang Company during the just completed year: Manufacturing overhead costs incurred: Indirect materials$ 16,700Indirect labor147,000Property taxes, factory9, 700Utilities, factory87, 000Depreciation, factory273, 900Insurance, factory 11, 700 Total actual manufacturing overhead costs incurred$ 546, 000Other costs incurred: Purchases of raw materials (both direct and indirect)$ 417,000Direct labor cost$ 77,000Inventories: Raw materials, beginning$ 21, 700Raw materials, ending$ 31, 700 Work in process, beginning$ 41, 700Work in process, ending$ 71, 700 The company uses a predetermined overhead rate of $26 per machine - hour to apply overhead cost to jobs. A total of 21,400 machine - hours were used during the year. Required:1. Compute the amount of underapplied or overapplied overhead cost for the year.2. Prepare a schedule of cost of goods manufactured for the year.
The following costs were incurred during the month of June: Direct Materials $34,000 Direct Labor $72,000 Variable Manufacturing Overhead $3,000 Fixed Manufacturing Overhead $16,000 Selling Expenses $13,000 Administrative Expenses $16,000 What were the total inventoriable costs for June?
Cost data for Firetree Manufacturing Company for the month ended March 31 are as follows: Inventories March 1 March 31 Materials $224,000 $199,360 Work in process 147,840 131,580 Finished goods 116,480 135,560 Line Item Description Amount Direct labor $403,200 Materials purchased during March 430,080 Factory overhead incurred during March: Line Item Description Amount Indirect labor 43,010 Machinery depreciation 25,980 Heat, light, and power 8,960 Supplies 7,170 Property taxes 6,270 Miscellaneous costs 11,650 Question Content Area a. Prepare a cost of goods manufactured statement for March. Firetree Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended March 31 Costs Type Amount Amount Amount $- Select - Direct materials: $- Select - - Select - $- Select - - Select - $- Select - - Select - Factory overhead: $- Select - - Select - - Select - - Select - - Select - - Select - Total factory overhead Total factory overhead Total…
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Cost data for Disksan Manufacturing Company for the month ended January 31 are as follows: Inventories January 1 January 31 Materials $180,000 $145,500 Work in process 334,600 290,700 Finished goods 675,000 715,000 Direct labor $2,260,000 Materials purchased during January 1,375,000 Factory overhead incurred during January: Indirect labor 115,000 Machinery depreciation 90,000 Heat, light, and power 55,000 Supplies 18,500 Property taxes 10,000 Miscellaneous costs 33,100 a. Prepare a cost of goods manufactured statement for January.
Cost data for Disksan Manufacturing Company for the month ended January 31 are as follows: Inventories January 1 January 31 Materials $180,000 $145,500 Work in process 334,600 290,700 Finished goods 675,000 715,000 Direct labor $2,260,000 Materials purchased during January 1,375,000 Factory overhead incurred during January: Indirect labor 115,000 Machinery depreciation 90,000 Heat, light, and power 55,000 Supplies 18,500 Property taxes 10,000 Miscellaneous costs 33,100 Question Content Area a. Prepare a cost of goods manufactured statement for January. $- Select - Direct materials: $- Select - - Select - $- Select - - Select - $- Select - - Select - Factory overhead: $- Select - - Select - - Select - - Select - - Select - - Select - Total factory overhead fill in the…
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