Consider the following information: direct materials used totaled$124,700; direct labor amounted to $412,000; overhead wascomputed to be $789,600; Work in Process Inventory on March 1,2014, was $482,500; and Work in Process Inventory on March 31,2014, was $597,100. What was the cost of goods manufactured?a. $1,211,700b. $729,200c. $1,440,900The cost of goods sold for Frye Manufacturing in the year was$373,000. The January 1 Finished Goods Inventory balance was$30,200, and the December 31 Finished Goods Inventory balancewas $24,000.Calculate the cost of goods manufactured during the year.A. $397,000B. $54,200C. $366,800D. $6,200

Answer 1: COGM=Total Manufacturing Costs+Beginning Work in Process Inventory−Ending Work in Process…

Answered: Consider the following information:…

Principles of Accounting Volume 2

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Chapter4: Job Order Costing

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Problem 6PB: During the year, a company purchased raw materials of $77,321 and incurred direct labor costs of...

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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?
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)?
(a) Calculate the amount of direct materials purchased during the period. (b) Calculate the cost of goods manufactured during the period. (c) Calculate the total manufacturing overhead cost for the period. (d) Calculate the total manufacturing cost for the period.
Manufacturing overhead was estimated to be $201,900 for the year along with an estimated 20.190 direct labor hours. Actual manufacturing overhead was $220.700, and actual direct labor hours were 21,190. To dispose of the balance in the Manufacturing Overhead account, which of the following would be correct? Cost of Goods Sold would be credited for $8,800. Cost of Goods Sold would be credited for $18,800. Cost of Goods Sold would be debited for $8.800. Cost of Goods Sold would be debited for $18,800
The following account balances are from Woods Corporation accounting records for the yearended December 31, 2008.Required:1. Determine the amount of Direct materials used in production2. Determine the amount of factory overhead costs3. Determine the prime cost & conversion costs4. A schedule for factory/manufacturing overhead costs5. A schedule of the Cost of goods manufactured, clearly showing total manufacturing cost andtotal manufacturing cost to account for6. An Income Statement for Woods Corporation for the year ended December 31,20087. During the year Woods corporation produced 20,000 pieces of furniture. What was the unitproduct cost?8. How does the format of the income statement for a manufacturing concern differ from theincome statement of a merchandising business?Advertising expense $ 85,000Amortization expense – Patents 16,000Special Design Cost 10,000Bad Debts expense 28,000Depreciation expense – Office equipment 37,000Depreciation expense – Factory Building…
The following data relates to the operations of company A; direct material cost per unit- ghc5, direct labour cost/unit- ghc20 @ ghc2/hour, indirect production expense is made up of- depreciation- 50000, indirect material- ghc30000, and indirect labour- ghc20000. The company plans to produce 5000units and absorb overhead based on direct labour hours. What is the cost per unit? A. Ghc45 B. Ghc40 C. Ghc35 D. Ghc30 Reset Selection
E1-16 An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended June 30, 2014.Inventories Beginning EndingRaw materials $9,000 $13,100Work in process 5,000 7,000Finished goods 9,000 8,000Costs incurred: raw materials purchases $54,000, direct labor $47,000, manufacturingoverhead $19,900. The specifi c overhead costs were: indirect labor $5,500, factory insurance $4,000, machinery depreciation $4,000, machinery repairs $1,800, factory utilities$3,100, miscellaneous factory costs $1,500. Assume that all raw materials used were directmaterials.Instructions(a) Prepare the cost of goods manufactured schedule for the month ended June 30, 2014.(b) Show the presentation of the ending inventories on the June 30, 2014, balance sheet.
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Shades of the Caribbean design and manufacture sun-glasses for the tourism sector. The accounting records of the business reflect the following data at June 30, 2018: Inventory 1/7/2017 30/6/2018 Raw Materials $230,000 $260,000 Factory Supplies $35,000 $24,000 Work in Progress $358,000 $213,000 Finished Goods $975,400 $585,000 Other information: Sales Revenue Factory Supplies Purchased Direct Factory Labor Raw Materials Purchased Plant janitorial service Depreciation: Plant & Equipment Total Utilities ¹ Production Supervisor's Salary Hiring of Specialized Manufacturing Equipment Insurance on Plant & Equipment Delivery Vehicle Drivers' Wages Depreciation: Delivery Vehicle Property Taxes ² Administrative Wages & Salaries Advertising Expenses $5,675,000 64,000 792,000 560,000 37,000 186,000 481,250 450,000 68,000 112,000 189,000 53,850 240,000 850,750 1% of Sales Revenue ¹ Of the total utilities, 80% relates to manufacturing and 20% relates to general and administrative costs. 2 The…
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Selected data concerning the past year's operations of the Rose Company are as follows Require: Calculate the direct labor

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