An incomplete cost of goods manufactured schedule is presented here. Complete the cost of goods manufactured schedule for Sage Hill Company. (Assume that all raw materials used were direct materials.) ocess, January 1 erials erials inventory, January 11 rials purchases materials available for use materials inventory, December 31. erials used ring overhead ibor epreciation ufacturing overhead facturing costs of work in process in process, December 31 ads manufactured SAGE HILL COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2022 $ 49100 174,400 223500 25.500 20,400 39,300 75.400 $198.000 62900 135.100 $231,000 172100 505200 88,800 $594,000

An incomplete cost of goods manufactured schedule is presented here. Complete the cost of goods manufactured schedule for Sage Hill Company. (Assume that all raw materials used were direct materials.) ocess, January 1 erials erials inventory, January 11 rials purchases materials available for use materials inventory, December 31. erials used ring overhead ibor epreciation ufacturing overhead facturing costs of work in process in process, December 31 ads manufactured SAGE HILL COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2022 $ 49100 174,400 223500 25.500 20,400 39,300 75.400 $198.000 62900 135.100 $231,000 172100 505200 88,800 $594,000

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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Here is selected data for Lori Corporation: Cost of raw material purchased Cost of requisitioned direct materials Cost of requisitioned indirect materials Direct labor Manufacturing overhead incurred Cost of goods completed Cost of goods sold $77,000 43,000 3,000 80,000 100,000 233,500 OA. credit to Work-in- Process Inventory account for $237,500 OB. debit to Finished Goods Inventory account for $237,500 OC. debit to Finished Goods account for $233,500 OD. debit to Work-in-Process Inventory account for $233,500 142,000 17,000 32,000 35,000 130% Beginning raw materials inventory Beginning work in process inventory Beginning finished goods inventory Manufacturing overhead allocation rate (based on direct labor) The journal entry to transfer completed goods to the finished goods inventory account would include a
Cost of direct materials used in production Direct labor Factory overhead Work in process inventory, June 1 Work in process inventory, June 30 Finished goods inventory, June 1 Finished goods inventory, June 30 a. For June, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured. Woodfall Company Statement of Cost of Goods Manufactured Costs Type Work in process inventory, June 1 Cost of direct materials used in production Direct labor Factory overhead Total manufacturing costs incurred in June Total manufacturing costs Work in process inventory, June 30 Cost of goods manufactured ✓ $260,000 340,000 182,300 70,200 74,000 33,300 44,100 ✓ Amount $ Amount 260,000 X
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Required information Use the following information for the Exercises below. (Algo) Skip to question [The following information applies to the questions displayed below.] Note: Assume all raw materials were used as direct materials. Beginning of Year End of Year Inventories Raw materials inventory $ 6,300 $ 8,100 Work in process inventory 12, 600 9,300 Finished goods inventory 9, 100 5,800 Activity during current year Raw materials purchased $ 124,100 Direct labor 94,300 Factory overhead 39,900 QS 14-17 (Algo) Schedule of cost of goods manufactured LO P2 Factory overhead of $39,900 consists of Indirect labor of $20,300, Depreciation expense-Factory of $15,300, and Factory utilities of $4,300. Compute total manufacturing costs. Prepare a schedule of cost of goods manufactured.
Coat-All Paint Company used a predetermined overhead allocation rate to allocate $85,000 and $50,000 of indirect costs to the Coloring Department and the Mixing Department, respectively. The journal entry to record the allocation of overhead costs to the Coloring Department is Process costing is used. OA. debit Manufacturing Overhead, $50,000; credit Work - in - Process Inventory-Mixing, $50,000 OB. debit Work - in – Process Inventory-Coloring, $85,000; credit Manufacturing Overhead, $85,000 OC. debit Manufacturing Overhead, $85,000; credit Work - in - Process Inventory-Mixing, Ss85,000 D. debit Work- in-Process Inventory-Coloring. $50,000; credit Manufacturing Overhead, $50,000
So I have to finish the Cost of production Report, as you can see I need help with the cost sections below on my report. See attached photo of my work in progress for this report
The following information is available from Gabe's LOL Co. for the month ending September 30, 20XX. Gabe's LOL Co. Information Direct materials used in production 215,500 Direct Labor 199,200 84,400 97,500 114,700 Work-in-Process, Sept. 1 Work-in-Process, Sept. 30 Total Factory Overhead Determine Gabe's LOL Co. cost of goods manufactured for the month ending September 30, 20XX. Gabe's LOL Co. Schedule of Cost of Goods Manufactured For Month Ending Sept. 30, 20xx
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Use the following data to determine the cost of goods manufactured: Beginning finished goods inventory $ 12,500 Direct labor used 32,300 Beginning work in process inventory 8,900 General and administrative expenses 15,200 Direct materials used 42,200 Ending work in process inventory 10,700 Indirect labor 8,000 Ending finished goods inventory 11,200 Indirect materials 15,200 Depreciation—factory equipment 9,200
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