Current Attempt in ProgressDetermine the missing manufacturing cost data for Blossom Company as presented below. (Assume all raw materials used were directmaterials.)Direct materials usedDirect laborManufacturing overheadTotal manufacturing costsWork in process inventory.1/1/22Total cost of work-in-processWork in process inventory,12/31/22Cost of goodsmanufacturedCase A(a)$58,14047.430199.530(b)225.930(c)183.930Case B$76,93077,52083,210(d)16,830(e)9,180(f)Case C$132,600104,040(g)289,330(h)333,54081,600(1)

The work in process cost comprises total manufacturing costs and beginning WIP costs. The cost of…

Current Attempt in Progress Determine the missing manufacturing cost data for Blossom Company as presented below. (Assume all raw materials used were materials.) Direct materials used Direct labor Manufacturing overhead Total manufacturing costs Case A (a) $58,140 47,430 199,530 Case B $76,930 77,520 83,210 (d) Case C $132,6 104,04 289,330

Current Attempt in Progress Determine the missing manufacturing cost data for Blossom Company as presented below. (Assume all raw materials used were materials.) Direct materials used Direct labor Manufacturing overhead Total manufacturing costs Case A (a) $58,140 47,430 199,530 Case B $76,930 77,520 83,210 (d) Case C $132,6 104,04 289,330

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Unit V question 1
1. Cost of raw materials $132,000 2. Indirect materials $31,000 3. Indirect labor cost $19,000 4. Cost of goods manufactured $503,000 5. Unadjusted cost of goods sold $477,500 Questions: 1.If overhead is applied to production on the basis of direct labor cost, what predetermined overhead rate was in effect during the year? 2. Was manufacturing overhead underapplied or overapplied? By how much? 3. Compute the ending balance in Work in Process. Assume that this balance consists entirely of goods started during the year. If $10,750 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost?
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15. The Logicom Company reports the following information: Sales Direct materials used Depreciation on factory equipment Indirect labor Direct labor Factory rent Factory utilities Sales salaries expense Office salaries expense Indirect materials Product costs are A. $35,000 B. $29,200 C. $30,300 D. $24,500 $76,500 7,300 4,700 5,900 10,500 4,200 1,200 15,600 8,900 1,200
Use the information provided for Darwin Company to answer the question that follow. Darwin Company Sales Direct materials used Depreciation on factory equipment Indirect labor Direct labor Factory rent Factory utilities Sales salaries expense Office salaries expense Indirect materials Darwin Company's period costs are Oa. $35,000 Ob. $30,300 Oc. $29,200 Od. $24,500 $76,500 7,300 4,700 5,900 10,500 4,200 1,200 15,600 8,900 1,200
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For each of the following independent cases (1 to 4), compute the missing values. Note: Enter all amounts as positive values. Beginning raw materials Raw materials purchases Indirect materials issued Ending raw materials Direct materials used Direct labor Manufacturing overhead applied Total current manufacturing costs Beginning work in process Ending work in process Cost of goods manufactured Beginning finished goods Ending finished goods Cost of goods sold Case 1 $ 6,200 53,000 900 1,700 36,000 62,000 45,000 134,000 78,000 80,000 Case 2 11,550 2,000 2,450 13,500 39,450 80,600 38,600 73,800 31,900 74,000 Case 3 $ 30,000 49,640 1,400 32,720 29,280 94,000 42,950 90,125 53,200 113,075 Case 4 $ 94,000 3,600 94,200 121,750 540,930 101,920 238,100 831,900 398,500 845,400
Determine the missing amount for each separate situation involving manufacturing costs. Direct materials used Direct labor used Factory overhead Total manufacturing costs $ (1) 10,000 $ 6,000 7,000 $ (2) 16,000 25,000 52,000 $ (3) 20,000 24,000 74,000