Answer A&B Corporation reported a cost of goods manufactured of $610,000. The firm'syear-end balance sheet shows work in process and finished goods inventoryamounts of $90,000 and $156,000, respectively. Additional data reveals that rawmaterials used in production were $100,000, direct labor was $160,000, andmanufacturing overhead totaled $280,000. Furthermore, the company purchasedoffice supplies worth $5,000, which is unrelated to the manufacturing process.What must have been the company's beginning work in process? Delta Industriesreported a cost of goods manufactured of $720,000. The firm's balance sheetshowed work in process and finished goods inventory amounts of $110,000 and$180,000, respectively. Supplemental information revealed raw materials used of$130,000, direct labor of $190,000, and manufacturing overhead of $300,000.Additionally, the firm made a donation of $8,000 to charity during the year. Whatmust have been the company's beginning work in process? A. $90,000B. None of the other answers are correct. C. $600,000 D. $70,000

For the first problem with A&B Corporation: Cost of goods manufactured: $610,000 Work in process…

Answered: A&B Corporation reported a cost of…

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 13E: Wyandotte Company provided the following information for the last calendar year: During the year,...

See similar textbooks

Similar questions

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. Refer to Exercise 2.21. Last calendar year, Ellerson recognized revenue of 1,312,000 and had selling and administrative expenses of 204,600. Required: 1. What is the cost of goods sold for last year? 2. Prepare an income statement for Ellerson for last year.
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?
Orinder Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 275,800, direct labor cost was 153,000, and overhead cost was 267,300. There were 25,000 units produced. Unit manufacturing cost (rounded to the nearest cent) is a. 28.40 b. 27.98 c. 34.95 d. 27.55
During the year, a company purchased raw materials of $77,321, and incurred direct labor costs of $125,900. Overhead is applied at the rate of 75% of the direct labor cost. These are the inventory balances: Compute the cost of materials used in production, the cost of goods manufactured, and the cost of goods sold.
Kenkel, Ltd. uses backflush costing to account for its manufacturing costs. The trigger points are the purchase of materials, the completion of goods, and the sale of goods. Prepare journal entries to account for the following: a. Purchased raw materials, on account, 80,000. b. Requisitioned raw materials to production, 80,000. c. Distributed direct labor costs, 10,000. d. Factory overhead costs incurred, 60,000. (Use Various Credits for the account in the credit part of the entry.) e. Completed all of the production started. f. Sold the completed production for 225,000, on account.
The following product costs are available for Stellis Company on the production of erasers: direct materials, $22,000; direct labor, $35,000; manufacturing overhead, $17,500; selling expenses, $17,600; and administrative expenses; $13,400. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 13,750 equivalent units are produced, what is the equivalent material cost per unit? If 17,500 equivalent units are produced, what is the equivalent conversion cost per unit?
A&B Corporation reported a cost of goods manufactured of $610,000. The firm's year-end balance sheet shows work in process and finished goods inventory amounts of $90,000 and $156,000, respectively. Additional data reveals that raw materials used in production were $100,000, direct labor was $160,000, and manufacturing overhead totaled $280,000. Furthermore, the company purchased office supplies worth $5,000, which is unrelated to the manufacturing process. What must have been the company's beginning work in process? Delta Industries reported a cost of goods manufactured of $720,000. The firm's balance sheet showed work in process and finished goods inventory amounts of $110,000 and $180,000, respectively. Supplemental information revealed raw materials used of $130,000, direct labor of $190,000, and manufacturing overhead of $300,000. Additionally, the firm made a donation of $8,000 to charity during the year. What must have been the company's beginning work in process? A. $90,000 B.…
Help
CPL Company reported a cost of goods manufactured of $520,000, with the firm's year-end balance sheet revealing work in process and finished goods of $70,000 and $134,000, respectively. If supplemental information disclosed raw materials used in the production of $80,000, direct labor of $140,000, and manufacturing overhead of $240,000, the company's beginning work in the process must have been: A. $66,000. B. None of the other answers are correct. C. $390,000. D. $10,000.
Don't use AI
The accounting records of Younkin Corporation revealed the following selected costs: Sales commissions, $61,000; plant supervision, $215,000. and administrative expenses, $184,000. What is Younkin’s period costs total?
The accounting records of Nelson Manufacturing revealed the following selected costs: Sales commissions, $96,000; plant insurance, $80,000; and administrative expenses, $150,000. What is Nelson Manufacturing's period costs total?

SEE MORE QUESTIONS

Recommended textbooks for you

Cornerstones of Cost Management (Cornerstones Ser…

Accounting

ISBN:

9781305970663

Author:

Don R. Hansen, Maryanne M. Mowen

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

College Accounting, Chapters 1-27

Accounting

ISBN:

9781337794756

Author:

HEINTZ, James A.

Publisher:

Cengage Learning,

Cornerstones of Cost Management (Cornerstones Ser…

Accounting

ISBN:

9781305970663

Author:

Don R. Hansen, Maryanne M. Mowen

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

College Accounting, Chapters 1-27

Accounting

ISBN:

9781337794756

Author:

HEINTZ, James A.

Publisher:

Cengage Learning,

Principles of Cost Accounting

Accounting

ISBN:

9781305087408

Author:

Edward J. Vanderbeck, Maria R. Mitchell

Publisher:

Cengage Learning

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Financial And Managerial Accounting

Accounting

ISBN:

9781337902663

Author:

WARREN, Carl S.

Publisher:

Cengage Learning,

SEE MORE TEXTBOOKS