Beckett Industries has the following beginning and ending inventories for the month of April. April 1 April 30 Direct materials $ 67,000 $ 62,000 Work-in-process 145,000 171, 000 Finished goods. 85,000 78,000 Production data for the month of April is: Direct labor $ 200,000 Actual overhead 132,000 Direct materials purchased 163, 000 Transportation in 4,000 Purchase Returns and Allowances 2,000 Beckett uses one overhead control account and charges overhead to production at 70% of direct labor cost. The company does not formally recognize over- or underapplied overhead until year-end. What is Beckett's total manufacturing cost for April?

Beckett Industries has the following beginning and ending inventories for the month of April. April 1 April 30 Direct materials $ 67,000 $ 62,000 Work-in-process 145,000 171, 000 Finished goods. 85,000 78,000 Production data for the month of April is: Direct labor $ 200,000 Actual overhead 132,000 Direct materials purchased 163, 000 Transportation in 4,000 Purchase Returns and Allowances 2,000 Beckett uses one overhead control account and charges overhead to production at 70% of direct labor cost. The company does not formally recognize over- or underapplied overhead until year-end. What is Beckett's total manufacturing cost for April?

Name: Beckett Industries has the following beginning and ending inventories
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Beckett Industries has the following beginning and ending inventories for the month of April. April 1 April 30 Direct materials $ 67,000 $ 62,000 Work-in-process 145,000 171, 000 Finished goods85,000 78,000 Production data for the month of April is:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Tyare Corporation had the following inventory balances at the beginning and end of May: May 1 May 30 $45,000 $81,000 $17,655 Raw materials $33,000 Finished Goods $82,500 Work in Process $21,000 During May, $66,000 in raw materials (all direct materials) were drawn from inventory and used in production. The company's predetermined overhead rate was $12 per direct labor-hour, and it paid its direct labor workers $15 per hour. A total of 450 hours of direct labor time had been expended on the jobs in the beginning Work in Process inventory account. The ending Work in Process inventory account contained $7,800 of direct materials cost. The Corporation incurred $44,250 of actual manufacturing overhead cost during the month and applied $44,100 in manufacturing overhead cost. The actual direct labor-hours worked during May totaled:
Valdosta Company is working on its costing information for January. Using normal costing, they use one overhead control account and charges overhead to production at 75% of direct labor cost. The company does not formally close the account until the end of the year. The beginning and ending inventories for the month of August are August 1 August 31 Direct Materials $62,000 $67,000 Work in Process $171,000 $145,000 Finished Goods $78,000 $85,000 Production data for the month of August follows: Direct labor $250,000 Actual manufacturing overhead $195,500 Direct materials purchased $163,000 Transportation in $2,000 Valdosta Company's prime cost for August is Group of answer choices $368,000 $370,000 $408,000 $410,000
Cost of Goods Sold In September, Lauren Ashley Company purchased materials costing $190,000 and incurred direct labor cost of $100,000. Overhead totaled $300,000 for the month. Information on inventories was as follows: September 1 September 30 Materials Work in process Finished goods Required: $120,000 80,000 70,000 $130,000 90,000 65,000 What was the cost of goods sold for September? X
Give me answer
Cost of Goods Sold In September, Lauren Ashley Company purchased materials costing $210,000 and incurred direct labor cost of $140,000. Overhead totaled $375,000 for the month. Information on inventories was as follows: September 1 September 30 Materials $120,000 $130,000 Work in process 80,000 90,000 Finished goods 70,000 65,000 Required: What was the cost of goods sold for September?
Tyare Corporation had the following inventory balances at the beginning and end of May: May 1 May 30 Raw materials $29,500 $38,000 Finished Goods $79,000 $74,000 Work in Process $17,500 $17,116 During May, $62,500 in raw materials (all direct materials) were drawn from inventory and used in production. The company's predetermined overhead rate was $12 per direct labor-hour, and it paid its direct labor workers $15 per hour. A total of 380 hours of direct labor time had been expended on the jobs in the beginning Work in Process inventory account. The ending Work in Process inventory account contained $7,450 of direct materials cost. The Corporation incurred $43,200 of actual manufacturing overhead cost during the month and applied $42,000 in manufacturing overhead cost. The amount of direct labor cost in the May 30 Work in Process inventory was: Multiple Choice $4,296 $5,370 $4,990 $9,666
Vinubhai
[The following information applies to the questions displayed below.]Information on Kwon Manufacturing’s activities for its first month of operations follows: Purchased $101,700 of raw materials on credit. Materials requisitions show the following materials used for the month. Job 201 $ 49,900 Job 202 25,300 Total direct materials 75,200 Indirect materials 10,320 Total materials used $ 85,520 Time tickets show the following labor used for the month. Job 201 $ 40,900 Job 202 14,300 Total direct labor 55,200 Indirect labor 25,900 Total labor used $ 81,100 Applied overhead to Job 201 and to Job 202 using a predetermined overhead rate is 80% of direct materials cost. Transferred Job 201 to Finished Goods Inventory. (1) Sold Job 201 for $168,860 on credit. (2) Record cost of goods sold for Job 201. Incurred the following actual other overhead costs for the month. Depreciation of factory equipment $ 33,700 Rent on factory building (payable)…
SurfsUp Specialty Products has the following inventory account balances and related manufacturing cost flow information for the month of October: Raw Materials, October 1 $ 20,000 Raw Materials, October 31 $ 25,000 Work in Process, October 1 $ 45,000 Work in Process, October 31 $ 40,000 Finished Goods, October 1 $ 68,000 Finished Goods, October 31 $ 62,000 Raw materials purchased ? Raw materials used $ 75,000 Direct labor incurred ? Manufacturing overhead incurred $ 120,000 Cost of goods manufactured $ 300,000 Cost of goods sold ? Direct labor incurred in October is:
Valdosta Company is working on its costing information for January. Using normal costing, they use one overhead control account and charges overhead to production at 75% of direct labor cost. The company does not formally close the account until the end of the year. The beginning and ending inventories for the month of August are August 1 August 31 Direct Materials $62,000 $67,000 Work in Process $171,000 $145,000 Finished Goods $78,000 $85,000 Production data for the month of August follows: Direct labor $250,000 Actual manufacturing overhead $195,500 Direct materials purchased $163,000 Transportation in $2,000 Valdosta Company's cost of goods transferred to finished goods inventory for August is Group of answer choices $484,000 $495,000 $577,000 $623,500
Factory overhead is applied at 75% of direct labor cost. How much is the total cost of purchases for the month of August?
Borchardt Corporation has provided the following data concerning last month's operations. Direct materials Direct labor Manufacturing overhead applied to Work in Process Work in process inventory $169,000 O$235,000 How much is the cost of goods manufactured for the month on the Schedule of Cost of Goods Manufactured? $173,000 O$178.000 Beginning $ 66,000 hs $ 29,000 $ 58,000 $ 82,000 Ending $ 57,000