D Company reported the following information for the year: Ending work-in- process inventory P4,000 Beginning work-in-process inventory P3,000 Factory overhead P5,100 Direct labor cost P7,000 Direct materials used P5,000 Manufacturing costs added to work-in-process inventory were: O P12,000 O P17,100 O P16,100 O P13,600

D Company reported the following information for the year: Ending work-in- process inventory P4,000 Beginning work-in-process inventory P3,000 Factory overhead P5,100 Direct labor cost P7,000 Direct materials used P5,000 Manufacturing costs added to work-in-process inventory were: O P12,000 O P17,100 O P16,100 O P13,600

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

Crane Company developed the following data for the current year: Beginning work in process inventory Direct materials used Actual overhead Overhead applied Cost of goods manufactured Total manufacturing costs $ 206000 $568000 $524000 O $318000 O $730000 208000 176000 184000 960000 916000 How much is Crane Company's direct labor cost for the year?
5
Anchor Manufacturing Company reported the following year-end information: Beginning work in process inventory $80,000 Cost of goods manufactured Beginning finished goods inventory Ending work in process inventory $880,000 $50,000 $70,000 Ending finished goods inventory $40,000 How much is Anchor's cost of goods sold for the year? A. $900,000 B. $890,000 C. $880,000 D. $870,000
Alpesh
Hendrix & Franks Company had the following beginning and ending inventory balances for the current year ended December 31: Materials Work in Process Finished Goods $102,000 $97,500 $117,150 January 1 $128,500 $11,000 19,800 23,100 December 31 In addition, direct labor costs of $33,000 were incurred, manufacturing overhead equaled $46,200, materials purchased were $29,700, and selling and administrative costs were $24,200. Hendrix & Franks Co. sold 27,500 units of product during the year at a sales price of $5.25 per unit. What was the amount of cost of goods sold for the year? $ 8,800 18,700 18,150
gjknjhvhk
DS-25999 company provided the following data for the end of the year (all raw materials are used in production as direct materials): Selling expenses $204,000 $243,000 $20,000 $146,000 Purchases of raw materials Direct labor Administrative expenses Manufacturing overhead applied to work in process$358,000 Actual manufacturing overhead cost $328,000 Inventory balances at the beginning and end of the year were as follows: Beginning End of Year $60,000 $38,000 $33,000 $44,000 of Year Raw materials Work in process Finished goods $25,000 $ ? For the year, the cost of goods available for sale was $704,000 and the net operating income as reported in its income statement income was $51,000. The DS-25999 company's underapplied or overapplied overhead was closed to Cost of Goods Sold. How much was the DS-25999 company's sales revenue for the year? 17,650 MAR 14 MacBook Air
The following information has been taken from the cost records of Wil Company for thepast year:Raw material used in production P326Total manufacturing costs charged to production during the year (includes direct material, direct labor, and overhead equal to 60% of direct labor cost) 686Cost of goods available for sale 826Selling and Administrative expenses 25 Inventories Beginning EndingRaw Material P75 P 85Work in Process 80 30Finished Goods 90 110 The cost of raw material purchased during the year wasa. P316.b. P336.c. P360.d. P411.
During the year, a company purchased raw materials of $77,319, 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: Beginning Ending Raw materials inventory $17,433 $16,428 Work in process inventory 241,437 234,422 Finished goods inventory 312,844 342,386 Compute the cost of materials used in production, the cost of goods manufactured, and the cost of goods sold. Cost of materials used in production $fill in the blank 1 Cost of goods manufactured $fill in the blank 2 Cost of goods sold $fill in the blank 3
Given the following data for Mehring Company, what are (A) total manufacturing costs and (B) cost of goods manufactured? Direct materials Beginning work in process $230,000 used inventory Direct labor Manufacturing overhead Operating expenses OA) B) C) D) (A) 150,000 255,000 263,000 (B) Ending work in process inventory Beginning finished goods inventory Ending finished goods inventory $635,000 $620,000 $650,000 $665,000 $620,000 $650.000 $635,000 $650,000 $30,000 15,000 38,000 23,000
ASAP Natin ‘To! Corporation’s northwestern facility provided the following information for the last calendar year: Beginning inventory: Direct Materials P50,800 Work in process 58,500 Ending inventories: Direct Materials P21,500 Work in process 23,500 During the year, direct materials purchased amounted to P150,000, direct labor cost was P200,000, and overhead cost was P324,700. There were 100,000 units produced. What is the total cost of direct materials used in production? P179,300 P50,800 P150,000 P21,500 What is the cost of goods manufactured? P739,000 P704,000 P762,500 P179,300 How much is the cost of conversion? P524,700 P379,300 P704,000 P904,000 How much is the total prime cost? P524,700 P704,000 P904,000 P379,300 What is the total manufacturing cost? P379,300 P524,700 P904,000 P704,000
Raw materials inventory Work in process inventory Finished goods inventory. Purchases of direct materials Direct labor.. Indirect labor. Beginning of Year End of Year $ 23,000 $25,000 $ 35,000 $31,000 $ 20,000 $ 22,000 $ 74,000 $ 86,000 $ 42,000 Insurance on plant Depreciation-plant building and equipment Repairs and maintenance-plant Marketing expenses General and administrative expenses End of Year $ 11,500 $ 13,400 $ 3,700 $ 77,000 $ 28,500