Cascade Manufacturing uses a normal cost system and had the following data available for 2023: • Direct materials purchased on account: $180,000 Direct materials requisitioned: $110,000 ⚫ Direct labor cost incurred: $135,000 • Factory overhead incurred: $162,000 • Cost of goods completed: $320,000 • Cost of goods sold: $290,000 Beginning direct materials inventory: $35,000 • Beginning WIP inventory: $60,000 • Beginning finished goods inventory: $55,000 • Overhead application rate, as a percent of direct-labor costs: 110% The ending balance of the direct materials inventory is $

Cascade Manufacturing uses a normal cost system and had the following data available for 2023: • Direct materials purchased on account: $180,000 Direct materials requisitioned: $110,000 ⚫ Direct labor cost incurred: $135,000 • Factory overhead incurred: $162,000 • Cost of goods completed: $320,000 • Cost of goods sold: $290,000 Beginning direct materials inventory: $35,000 • Beginning WIP inventory: $60,000 • Beginning finished goods inventory: $55,000 • Overhead application rate, as a percent of direct-labor costs: 110% The ending balance of the direct materials inventory is $

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 22E: Ellerson Company provided the following information for the last calendar year: During the year,...

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Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Required: 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. Calculate the unit manufacturing cost. 3. Of the unit manufacturing cost calculated in Requirement 2, 2.70 is direct materials and 5.30 is overhead. What is the prime cost per unit? Conversion cost per unit?
Cost of goods sold Pine Creek Company completed 200,000 units during the year at a cost of 3,000,000. The beginning finished goods inventory was 25,000 units at 310,000. Determine the cost of goods sold for 210,000 units, assuming a FIFO cost flow.
Wyandotte Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 256,900, direct labor cost was 176,000, and overhead cost was 308,400. There were 40,000 units produced. Required: 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. Calculate the unit manufacturing cost. 3. Of the unit manufacturing cost calculated in Requirement 2, 6.62 is direct materials and 7.71 is overhead. What is the prime cost per unit? Conversion cost per unit?
Prepare a cost of goods sold budget for MacLaren Manufacturing Inc. for the year ended December 31, 2016, from the following estimates. Inventories of production units: Direct materials purchased during the year, 548,000; beginning inventory of direct materials, 36,000; and ending inventory of direct materials, 23,000. Totals from other budgets included:
The ending balance of the direct materials?
Nuvoview Manufacturing uses a normal cost system and had the following data available for 2019: Direct materials purchased on account $145,000 Direct materials requisitioned 88,000 Direct labor cost incurred 127,000 Factory overhead incurred 148,000 Cost of goods completed 299,000 Cost of goods sold 250,000 Beginning direct materials inventory 34,000 Beginning WIP inventory 70,000 Beginning finished goods inventory 55,000 Overhead application rate (% DL costs $) 130% Which of the following Answers below best fits in each black space? The ending balance of works in process inventory is________ A: Beginning direct materials inventory B: Beginning works in process inventory C: Cost of goods complete D: Cost of goods sold E: Direct labor incurred F: Direct materials purchased…
The cost of raw materials purchases for 2019 is?
The following cost incurred by Lucky corporation for October 2019 were as follows: Direct Materials used, P20,000 Indirect materials used, P1,000 Direct labor, P9,000 Indirect labor, P5,000 Other factory cost, P5,000 Selling expenses,P10,000 Administrative expenses, P12,000 Question: How much is the total product cost? a. P62,000 b. P50,000 c. P29,000 d. P40,000 Plz answer fast without plagiarism and don't copy answer plz
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The following cost data pertains to DEF Inc. for December 31st, 2022: Ending Raw Materials Inventory: Beginning Work-in-Process: Ending Work-in-Process: Direct Materials Used: Direct Costs Incurred in Production: Indirect costs incurred in Production: Beginning Finished Goods Inventories: Ending Finished Goods Inventories: Sales: Selling and Administrative Expenses: Applied Overhead for the period: $50,000 $30,000 $15,000 $20,000 $40,000 $40,000 $40,000 $20,000 $190,000 $40,000 $40,000 The cost of goods sold for 2022 is $115,000 x. $137,000 $175,000 $135,000
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Data for the cost of direct materials for the month ended March 31, 2022, are as follows: Raw materials inventory, March 1, 2022 Raw materials inventory, March 31, 2022 $94,240 86,800 During March, the company purchased $322,400 of raw materials on account from Blossom Company and $114.080 of raw materials for cash from Crane Company. In addition, $62,000 was paid on the Blossom account balance. (Assume all raw materials used were direct materials.) Compute the cost of direct materials used during March. Cost of direct materials used during March $