ACCT 102 - Subparts d e f 614,400Ending balance $ 53,400Manufacturing OverheadCost of Goods Sold$214,400$214,400Required:Indicate the amounts requested below. Some amounts are shown in the illustrated T accounts; others require short computations.a. Compute the amount of purchases of direct materials.b. Compute the amount of the cost of direct materials used.c. Compute the amount of direct labor costs assigned to production.d. Compute the amount of the year-end liability for direct wages payable.e. Compute the amount of total manufacturing costs charged to the Work in Process Inventory account during the current yearf. Compute the amount of the cost of finished goods manufactured.g. Compute the amount of the year-end balance in the Work in Process Inventory accounth. Compute the amount of the cost of goods sold.i. Compute the amount of the total amount of inventory listed in the year-end balance sheetPurchases of direct materials269,000a.265,000b. Cost of direct materials used134,000C.Amount of direct labor costsd. Amount of year-end liability for direct laborTotal manufacturing costsf.Cost of finished goods manufacturedg. Amount of year-end balance for work in process inventoryh Cost of goods soldTotal inventory%24 Materials InventoryWork in Process InventoryBeg. balance$ 13,000Beg, balance$ 19,000269,000Ending balance $ 17,000$614,400134,000214,400Ending balanceDirect LaborFinished Goods Inventory$134,000Ending balance $ 2,700$ 46,000614,400Ending balance $ 53,400$131,300Beg. balanceCost of Goods SoldManufacturing Overhead$214,400$214,400Required:Indicate the amounts requested below. Some amounts are shown in the illustrated T accounts; others require short computations.a. Compute the amount of purchases of direct materials.b. Compute the amount of the cost of direct materials used.c. Compute the amount of direct labor costs assigned to production.d. Compute the amount of the year-end liability for direct wages payable.e. Compute the ampunt of total manufacturing costs charged to the Work in Process Inventory account during the current year.f. Compute the amount of the cost of finished goods manufactured.g. Compute the amount of the year-end balance in the Work in Process Inventory account.h. Compute the amount of the cost of goods sold.i. Compute the amount of the total amount of inventory listed in the year-end balance sheet.269,000Purchases of direct materials265,000a.Cost of direct materials used134.000%24%24

Cost of goods manufactured = Beginning WIP + total manufacturing costs incurred during the year -…

b. Compute he diIount Ul UIC CUJL c. Compute the amount of direct labor costs assigned to production. d. Compute the amount of the year-end liability for direct wages payable. e. Compute the ampunt of total manufacturing costs charged to the Work in Proc f. Compute the amount of the cost of finished goods manufactured. ass Inventor

b. Compute he diIount Ul UIC CUJL c. Compute the amount of direct labor costs assigned to production. d. Compute the amount of the year-end liability for direct wages payable. e. Compute the ampunt of total manufacturing costs charged to the Work in Proc f. Compute the amount of the cost of finished goods manufactured. ass Inventor

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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