Cary Fabrication uses a normal cost system and had the following data available for 2022: Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred Factory overhead incurred Cost of goods completed Cost of goods sold Beginning direct materials inventory Beginning WIP inventory $160,000 ninety-four thousand 120,000 138,000 280,000 245,000 30,000 72,000 60,000 Beginning finished goods inventory Overhead application rate, as a percent of direct labor The ending balance of the direct materials inventory is: 120%

Cary Fabrication uses a normal cost system and had the following data available for 2022: Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred Factory overhead incurred Cost of goods completed Cost of goods sold Beginning direct materials inventory Beginning WIP inventory $160,000 ninety-four thousand 120,000 138,000 280,000 245,000 30,000 72,000 60,000 Beginning finished goods inventory Overhead application rate, as a percent of direct labor The ending balance of the direct materials inventory is: 120%

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter2: Accounting For Materials

Section: Chapter Questions

Problem 13P: Webster Company uses backflush costing to account for its manufacturing costs. The trigger points...

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During March, the following costs were charged to the manufacturing department: $14886 for materials; $14,656 for labor; and $13,820 for manufacturing overhead. The records show that 30,680 units were completed and transferred, while 2,400 remained in ending inventory. There were 33,080 equivalent units of material and 31,640 of conversion costs. Using the weighted-average method, what is the cost of inventory transferred and the balance in work in process inventory?
During the year, a company purchased raw materials of $77,321, and incurred direct labor costs of $125,900. Overhead is applied at the rate of 75% of the direct labor cost. These are the inventory balances: Compute the cost of materials used in production, the cost of goods manufactured, and the cost of goods sold.
What are the total costs to account for if a companys beginning inventory had $231,432 in materials, $186,450 in conversion costs, and added direct material costs ($4,231,392), direct labor ($2,313,392), and manufacturing overhead ($1,156,696)?
Cary Fabrication uses a normal cost system and had the following data available for 2022:
The ending balance of the direct materials?
hello, can u give correct answer
Wayland Manufacturing uses a normal cost system and had the following data available for 2010: Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred Factory overhead incurred Cost of goods completed Cost of goods sold Beginning direct materials inventory Beginning WIP inventory Beginning finished goods inventory Overhead application rate, as a percent of direct-labor costs The ending balance of the direct materials inventory is: a. $82,000 b. $108,000 c. $174,000 d. $92,000 e. None of the above $1,48,000 82,000 1,30,000 1,46,000 2,92,000 2,56,000 26,000 64,000 58,000 125%
SUBJECT= GENERAL ACCOUNT
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Cost Account
Wayland Manufacturing uses a normal cost system and had the following data available for 2019: Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred Factory overhead incurred Cost of goods completed Cost of goods sold $148,000 82,000 130,000 Compute the ending balance of finished goods inventory. 146,000 292,000 256,000 Beginning direct materials inventory Beginning WIP inventory Beginning finished goods inventory Overhead application rate, as a percent of direct-labor costs 125 percent 26,000 64,000 58,000
Ivano Company has collected cost accounting information for the following subset of items forYears 1 and 2. Required:Calculate the values of the missing Items a through e.