0jorproseUsedBalances:Direct MaterialsWork-in-Process InventoryFinished Goods InventoryData tableDirect Materials Used:Direct Materials UsedPrintOther information:Depreciation, plant building and equipmentDirect materials purchasesInsurance on plantSales salariesRepairs and maintenance-plantIndirect laborDirect laborAdministrative expensesManufacturing Overhead:Cost of Goods ManufacturedBeginning Ending$DoneTotal Manufacturing OverheadTotal Manufacturing Costs incurred during the YearTotal Manufacturing Costs to Account ForRequirements1. Use the information to prepare a schedule of cost of goods manufactured.2. What is the unit product cost if Clark manufactured 4,380 lamps for the year?57,000 $ 22,000103,00067,00050,00052,000$4Clark, Corp.Schedule of Cost of Goods ManufacturedYear Ended December 31, 202411,000155,00023,00043,00013,00040,000125,00053,000-X

Balances: Direct Materials Work-in-Process Inventory Finished Goods Inventory Data table Other information: Direct Materials Used: Print Depreciation, plant building and equipment Direct materials purchases Insurance on plant Sales salaries Repairs and maintenance-plant Indirect labor Direct labor Administrative expenses Direct Materials Used Manufacturing Overhead: Beginning Ending $ 57,000 $ 22,000 103,000 67,000 50,000 52,000 Requirements 1. Use the information to prepare a schedule of cost of goods manufactured. 2. What is the unit product cost if Clark manufactured 4,380 lamps for the year? Cost of Goods Manufactured Done Total Manufacturing Overhead Total Manufacturing Costs incurred during the Year Total Manufacturing Costs to Account For $ Clark, Corp. Schedule of Cost of Goods Manufactured Year Ended December 31, 2024 11,000 155,000 23,000 43,000 13,000 40,000 125,000 53,000 - X

Balances: Direct Materials Work-in-Process Inventory Finished Goods Inventory Data table Other information: Direct Materials Used: Print Depreciation, plant building and equipment Direct materials purchases Insurance on plant Sales salaries Repairs and maintenance-plant Indirect labor Direct labor Administrative expenses Direct Materials Used Manufacturing Overhead: Beginning Ending $ 57,000 $ 22,000 103,000 67,000 50,000 52,000 Requirements 1. Use the information to prepare a schedule of cost of goods manufactured. 2. What is the unit product cost if Clark manufactured 4,380 lamps for the year? Cost of Goods Manufactured Done Total Manufacturing Overhead Total Manufacturing Costs incurred during the Year Total Manufacturing Costs to Account For $ Clark, Corp. Schedule of Cost of Goods Manufactured Year Ended December 31, 2024 11,000 155,000 23,000 43,000 13,000 40,000 125,000 53,000 - X

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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Analyse the following accounts determine the amount of direct and indirect materials used. Analyze the T-accounts to find the direct materials used and total materials used.
Use the included information about Raw Materials Inventory (RM), Work in Process Inventory (WIP), Finished Goods Inventory (FG), and the Income Summary (IS). Determine the total conversion costs added. 1 2 3 4 5 6 7 1 00 RM B Bal T1 T2 T3 T4 E Bal 8 9 FG 10 B Bal 11 T1 12 T2 13 T3 14 T4 15 E Bal 2 Debits 4300 29 050 Debits 4800 45 592 3 Credits 28 000 Credits 33 500 4 5 WIP B Bal DM DL FOH CGM E Bal IS Rev CGS V Op Exp F Op Exp NIBT 6 Debits 8920 28 000 17 430 11 130 Debits 33 500 5130 7960 7 Credits 45 592 Credits 66 200
Subject -acounting
Direct materials: Beginning inventory Purchases Ending inventory Direct manufacturing labor Manufacturing overhead Beginning work-in-process inventory Ending work-in-process inventory Beginning finished goods inventory Ending finished goods inventory P 40,000 123,200 20,800 32,000 24,000 8,000 1,600 48,000 32,000 Required: A. What is the cost of direct materials used during 2022? B. What is cost of goods manufactured for 2022? C. What is cost of goods sold for 2022? D. What amount of prime costs was added to production during 2022? E. What amount of conversion costs was added to production during 2022?
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Work in process (1/1) Direct materials Raw materials inventory (1/1) Add: Raw materials purchases Total raw materials available for use Less: Raw materials inventory (12/31) Direct materials used Direct labor Manufacturing overhead Indirect labor Factory depreciation Factory utilities Total overhead Total manufacturing costs Total cost of work in process: Less: Work in process (12/31) Cost of goods manufactured Cost of Goods Manufactured Schedule 168,130 27,530 26,260 39,410 78,070 $183,200 143,740 $213,140 87,830 $541,930
Raw materials acquired for cash Cost of direct materials used in production Costs to ship products to customers Direct labor cost incurred Total manufacturing overhead incurred Raw materials inventory, beginning Raw materials inventory, ending Work in process inventory, beginning Work in process inventory, ending $83500 O $148700 O $149300 O $150900 O $150700 82900 2000 42000 26000 4500 4600 13000 15200 How much is cost of goods manufactured for March?
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this is an excel style worksheet
Inventories Raw materials, beginning Work in process, beginning Finished goods, beginning Cost of goods manufactured Cost of goods sold (not considering over- or underapplied overhead) Sales Predetermined overhead rate based on direct materials used $ 39,000 13,400 Required 2 9,750 96,290 0 84,200 101,000 Finished Goods Inventory 90% 1. Complete the T-accounts for each of the three Inventory accounts using the data provided in the above table. 2. Compute overapplied or underapplied overhead. Complete this question by entering your answers in the tabs below. Costs incurred for the period Raw materials purchases Direct materials used Direct labor used. Factory overhead (actual) Required 1 Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. Raw Materials Inventory Indirect materials used Indirect labor used Other overhead costs Work in Process Inventory 0 $19,460 45,250 23,800 10,300 17,400 5,300