Chavez Corporation reported the following data for the month of July: Inventories: Raw materials Work in process Finished goods Additional information: Beginning Ending $36,000 $34,500 $20,500 $26,000 $36,500 $51,500 Raw materials purchases Direct labor cost $70,500 $95,500 $63,500 Manufacturing overhead cost incurred Indirect materials included in manufacturing overhead cost incurred Manufacturing overhead cost applied to Work in Process Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. The cost of goods manufactured for July is: $9,800 $62,500

Chavez Corporation reported the following data for the month of July: Inventories: Raw materials Work in process Finished goods Additional information: Beginning Ending $36,000 $34,500 $20,500 $26,000 $36,500 $51,500 Raw materials purchases Direct labor cost $70,500 $95,500 $63,500 Manufacturing overhead cost incurred Indirect materials included in manufacturing overhead cost incurred Manufacturing overhead cost applied to Work in Process Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. The cost of goods manufactured for July is: $9,800 $62,500

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

Primare Corporation provided the following data for last month's manufacturing operations. Purchases of raw materials Indirect materials used in production Direct labor Manufacturing overhead applied to work in process Underapplied overhead Inventories Raw materials Work in process Finished goods Ending $ 19, 100 Beginning $ 11, 100 $ 55,500 $ 66,300 $ 34,000 $ 42, 600 $ 32,000 $ 4,910 $ 58,800 $ 88,400 $ 4,110 Required: 1. Prepare a schedule of cost of goods manufactured. 2. Prepare a schedule of cost of goods sold. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold.
K Inc. has provided the following data for the month of May: Inventories: Beginning Ending $ 31,000 $26,000 $ 60,000 $64,000 Work in process Finished goods Additional information: Direct materials $ 71,000 $101,000 $ 77,000 $ 75,000 Direct labor cost Manufacturing overhead cost incurred Manufacturing overhead cost applied to Work in Process Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. The cost of goods manufactured for May is: Multiple Choice $254,000 $252,000 $247,000 $249,000
Bledsoe Corporation has provided the following data for the month of November: Beginning $ 25,700 Ending $ 21,700 $ 17,700 $ 48,700 Inventories Raw materials Work in process Finished Goods Additional information: Raw materials purchases Direct labor cost $ 10,700 $56,700 Manufacturing overhead cost incurred Indirect materials included in manufacturing overhead cost incurred Manufacturing overhead cost applied to Work in Process 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. Complete this question by entering your answers in the table below. Schedule of Schedule of COGS COGM $ 72,700 $ 92,700 $ 42,770 $ 4,070 $41,700
Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials used in production Direct labor Manufacturing overhead applied to work in process Underapplied overhead Inventories Raw materials Work in process Finished goods Beginning $ 10,700 $ 55,700 $ 33,100 Ending $ 18,000 $ 65,400 $ 43,200 $ 32,000 $ 4,950 $ 59,600 $ 88,700 $ 4,170 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.
Help fill out
Give me answer
Hardev
Subject: acounting
please help me to solve this problem
The debits to Work in Process—Assembly Department for April, together with data concerning production, are as follows: April 1, work in process: Materials cost, 3,000 units $7,700 Conversion costs, 3,000 units, 80% completed 5,100 Materials added during April, 10,000 units 25,300 Conversion costs during April 32,200 Goods finished during April, 11,500 units — April 30, work in process, 1,500 units, 60% completed — All direct materials are placed in process at the beginning of the process, and the weighted average method is used to cost inventories. The conversion cost per equivalent unit (to the nearest cent) for April is a.$3.01 b.$3.24 c.$3.73 d.$2.87
Prepare a schedule of cost of good manufactured.
Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials used in production Direct labor Manufacturing overhead applied to work in process Underapplied overhead Inventories Raw materials Work in process Finished goods Beginning $ 11, 200 $ 55,700 $ 33,700 Ending $ 19,900 $ 65,800 $ 42,800 $ 31,000 $ 4,940 $ 59,300 $ 87,600 $ 4,080 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.