Compute the amount of direct materials used during August if $25,000of raw materials were purchased during the month and the inventorieswere as follows.Balance Aug. 1 Balance Aug. 31InventoriesRaw Material$ 5,000$3,000Work-in-Process13,00016,000Finished Goods25,00027,000a. $27,000b. $19,000c. $16,000d. $23,000

Step 1: Understand the FormulaTo compute the amount of direct materials used, we use the following…

Answered: Compute the amount of direct materials…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 2SEA: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Maupin...

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Recording materials transactions Prepare a journal entry to record each of the following materials transactions: a. Total materials purchased on account during the month amounted to 200,000. b. Direct materials requisitioned for the month totaled 175,000. c. Indirect materials requisitioned during the month totaled 12,000. d. Direct materials returned to the storeroom from the factory amounted to 2,500. e. Total materials returned to vendor during the month amounted to 1,800. f. Payment during the month for materials purchased on account totaled 165,000.
SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Sanchez Welding and Manufacturing Company. Prepare a schedule of cost of goods manufactured for the year ended December 31, 20--. Assume that all materials inventory items are direct materials. Work in process, January 1 20,500 Materials inventory, January 1 11,000 Materials purchases 12,000 Materials inventory, December 31 13,000 Direct labor 9,500 Overhead 5,500 Work in process, December 31 10,500
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Question:21 Compute the amount of raw materials used during August if $26,000 of raw materials were purchased during the month and the inventories were as follows: Inventories Balance August 1 Balance August 31 Raw materials $1,600 $2,100 Work in process $8,000 $12,000 Finished goods $32,000 $16,000
Question: The following costs were incurred in March: Direct materials $38,000 Direct labor $29,000 Manufacturing overhead $21,000 Selling expenses $17,000 Administrative expenses $32,000 Conversion costs during the month totalled
Prepare General journal entries for the given question
Cost
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How much should be the accumulated cost of work in process as of May 31? a. P90,000 b. P100,000 c. P190,000 d. P220,000
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compute the october cost of direct materials used if raw material purchases for the month were $40,000 and the inventories were as follows: Beginning Ending Direct materials $7,000 $6,000 Work in process $6,000 $7,500 Finished goods $10,000 $12,000 The cost of direct materials used would be: $31,500 $41,000 $27,000 $43,000 None of the above Please show work.
Cost

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