Bledsoe Corporation has provided the following data for the month of November:EndingBeginning$ 25,200$ 17,200$ 48,200Inventories:Raw materialsWork in processFinished GoodsAdditional information:Raw materials purchasesDirect labor cost$ 72,200$ 92,200Manufacturing overhead cost incurred$ 42,220Indirect materials included in manufacturing overhead costincurred$ 4,020Manufacturing overhead cost applied to Work in Process$ 41,200Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold.Required:Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold.Complete this question by entering your answers in the table below.Schedule of Schedule ofCOGMCOGS$ 21,200$ 10,200$ 56,200Prepare a Schedule of Cost of Goods Manufactured.Direct materialsBLEDSOE CORPORATIONSchedule of Cost of Goods Manufactured Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold.Complete this question by entering your answers in the table below.Schedule of Schedule ofCOGMCOGSPrepare a Schedule of Cost of Goods Manufactured.Direct materials:Raw materials available for useTotal Raw materials used in productionDirect materials used in productionTotal manufacturing costs added to productionTotal manufacturing costs to account forCost of goods manufactured iSchedule of Schedule ofCOGMCOGSBLEDSOE CORPORATIONSchedule of Cost of Goods ManufacturedComplete this question by entering your answers in the table below.Beginning finished goods inventoryRequired:Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold.Prepare a Schedule of Cost of Goods Sold.BLEDSOE CORPORATIONSchedule of Cost of Goods SoldCost of goods available for saleSchedule of COGMUnadjusted cost of goods soldAdjusted cost of goods sold$00000Schedule of COGS >0S000

The Cost of Goods Manufactured is the total manufacturing costs of goods that are finished during a…

Bledsoe Corporation has provided the following data for the month of November: Beginning $ 25,200 $ 17,200 $ 48,200 Inventories: Raw materials Work in process Finished Goods Additional information: Raw materials purchases Direct labor cost Ending $ 21,200 $10,200 $ 56,200 $ 72,200 $ 92,200 Manufacturing overhead cost incurred $ 42,220 Indirect materials included in manufacturing overhead cost incurred $ 4,020 Manufacturing overhead cost applied to Work in Process $ 41,200 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. Required: Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold.

Bledsoe Corporation has provided the following data for the month of November: Beginning $ 25,200 $ 17,200 $ 48,200 Inventories: Raw materials Work in process Finished Goods Additional information: Raw materials purchases Direct labor cost Ending $ 21,200 $10,200 $ 56,200 $ 72,200 $ 92,200 Manufacturing overhead cost incurred $ 42,220 Indirect materials included in manufacturing overhead cost incurred $ 4,020 Manufacturing overhead cost applied to Work in Process $ 41,200 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. Required: Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold.

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

The manufacturing operations of Wildhorse, Inc. had the following balances for the month of January: Inventories Raw Materials Work in Process Finished Goods January 1 January 31 $15,600 27,300 18,200 $16,900 Cost of goods sold $ 29,900 20,800 Wildhorse transferred $377,000 of completed goods out of Work in Process Inventory during January. Compute the cost of goods sold.
Ocess The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials placed in process at the beginning of production. Work In Process-Assembly Department Bal., 2,000 units, 25% completed 5,100 To Finished Goods, 46,000 units Direct materials, 47,000 units @ $1.7 79,900 Direct labor 126,400 Factory overhead 49,165 Bal., 2 units, 65% completed Cost per equivalent units of $1.70 for Direct Materials and $3.70 for Conversion Costs. a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. 24 1. Cost of beginning work in process inventory completed this period %24 2. Cost of units transferred to finished goods during the period %24 3. Cost of ending work in process inventory 4. Cost per unit of the completed beginning work in process inventory (Rounded to the nearest $ cent.)
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
The following costs relate to one month's activity in Martin Company: Indirect materials $ 300 Rent on factory building $ 500 Maintenance of equipment $ 50 Direct material used $1,200 Utilities on factory $ 250 Direct labour $1,500 Selling expense $ 500 Administrative expense $ 300 Work-in-process inventory, beginning $ 600 Work-in-process inventory, ending $ 800 Finished goods inventory, beginning $ 500 Finished goods inventory, ending $ 250 Required: (a.) Prepare a schedule of cost of goods manufactured in good form. (b.) Determine the cost of goods sold.
Cost of Units Completed and in Process The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process-Assembly Department Bal., 7,000 units, 35% completed 15,225 To Finished Goods, 161,000 units Direct materials, 165,000 units @ $1.3 214,500 Direct labor 318,900 Factory overhead 124,035 Bal. ? units, 50% completed a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. $ 1. Cost of beginning work in process inventory completed this period. $ 2. Cost of units transferred to finished goods during the period. 3. Cost of ending work in process inventory. 4. Cost per unit of the completed beginning work in process inventory, rounded to the nearest cent. b. Did the production costs change from the preceding period? c. Assuming that the direct materials…
Zoe Corporation has the following information for the month of March: Cost of direct materials used in production $16,307 Direct labor 24,952 Factory overhead 31,690 Work in process inventory, March 1 15,426 Work in process inventory, March 31 19,882 Finished goods inventory, March 1 23,292 Finished goods inventory, March 31 28,467 a. Determine the cost of goods manufactured. b. Determine the cost of goods sold. %24 %24
Primare Corporation provided the following data for last month's manufacturing operations. Purchases of raw materials $ 30,000 Indirect materials used in production $ 4,510 Direct labor $ 59, 200 Manufacturing overhead applied to work in process $ 88, 200 Underapplied overhead $ 4, 020 Inventories Beginning Ending Raw materials $ 11,000 $ 19, 200 Work in process $ 54, 100 $ 65,100 Finished goods $ 34,900 $ 43,000 Required: Prepare a schedule of cost of goods manufactured. Prepare a schedule of cost of goods sold. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold.
Primare Corporation has provided the following data concerning last month’s manufacturing operations. Purchases of raw materials $ 30,000 Indirect materials used in production $ 4,580 Direct labor $ 59,700 Manufacturing overhead applied to work in process $ 88,000 Underapplied overhead $ 4,200 Inventories Beginning Ending Raw materials $ 11,800 $ 19,200 Work in process $ 55,500 $ 66,300 Finished goods $ 33,600 $ 42,900 Required: 1. Prepare a schedule of cost of goods manufactured for the month. 2. Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold.
shobha
Betty DeRose, Inc. operates two departments, the handling department and the packaging department. During April, the handling department reported the following information: work in process, April 1 units started during April work in process, April 30 units 27,000 59,000 34,000 work in process, April 1 costs added during April total costs % complete DM 60% DM $ 25,310 $190,720 $216,030 70% The cost of beginning work in process and the costs added during April were as follows: % complete conversion 85% Conversion $191, 175 $208,985 $400, 160 40% Total cost $216,485 $399, 705 $616, 190 Calculate the equivalent units with respect to conversion costs using the FIFO process costing method.
Using the following for March, calculate the cost of goods manufactured: Direct materials $29,000 Direct labor $19,000 Manufacturing overhead $27,000 Beginning work in process inventory $10,000 Ending work in process inventory $12,000 The cost of goods manufactured was: $74,000 $86,000 $76,000 $73,000 Show the calculation and work.