December 31. Garcon Реpper Company $ 16,450 19,950 9,000 22,750 35,000 13,300 16,000 7,200 12,000 43,000 10,860 1,500 52,000 46,000 290,010 15,700 19,450 Company $ 12,000 Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment 14,500 7,250 27,000 19,000 17,650 22,000 5,300 9,000 21,000 9,450 4,780 33,000 50,000 195,030 20,000 13,200 Direct labor Finished goods inventory, ending Work in process inventory, ending Raw materials inventory, ending Factory utilities General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net ompute the total prime costs for both Garcon Company and Pepper Company. ompute the total conversion costs for both Garcon Company and Pepper Company.

December 31. Garcon Реpper Company $ 16,450 19,950 9,000 22,750 35,000 13,300 16,000 7,200 12,000 43,000 10,860 1,500 52,000 46,000 290,010 15,700 19,450 Company $ 12,000 Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment 14,500 7,250 27,000 19,000 17,650 22,000 5,300 9,000 21,000 9,450 4,780 33,000 50,000 195,030 20,000 13,200 Direct labor Finished goods inventory, ending Work in process inventory, ending Raw materials inventory, ending Factory utilities General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net ompute the total prime costs for both Garcon Company and Pepper Company. ompute the total conversion costs for both Garcon Company and Pepper Company.

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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31 Current information for the Healey Company follows: Beginning raw materials inventory Raw material purchases Ending raw materials inventory Beginning work in process inventory Ending work in process inventory Direct labor Total factory overhead $ 17,200 62,000 18,600 24,400 30,000 44,000 32,000 All raw materials used were direct materials. Healey Company's cost of goods manufactured for the year is:
4. Cost of goods manufactured for the year. 5. Finished Goods Inventory on December 31.
1:43 Recent Richards Company manufactures a single product. All raw materials used were direct materials. Current information for the company follows: Beginning raw materials inventory Ending raw materials inventory Raw material purchases $ 10,000 12,000 90,000 Beginning work in process inventory 40,000 Ending work in process inventory 25,000 Direct labor 130,000 Total factory overhead 60,000 55,000 45,000 Beginning finished goods inventory Ending finished goods inventory Option A The company's cost of direct materials used, cost of goods manufactured and cost of goods sold are: Option B Option C Option D on ▸my.cbd.edu CBD College www.cbd.edu— Cost of Cost of Goods Materials Used Manufactured $90,000 $92,000 $88,000 $88,000 $92,000 $293,000 $293,000 .LTE $263,000 $293,000 $263,000 Cost of Goods Sold $283,000 $303,000 $283,000 $303,000 $293,000
What is Cost of good sold?
WHAT IS THE TOTAL COST OF GOODS SOLD?
Cost of Goods Sold, Cost of Goods Manifactured Glenville Company has the following information for April; Cost of direct materials used in production $41,000 Direct labor 55,000 Factory overhead 30, 000 Work in process inventory, April 1, 25,000 Work in process inventory, April 30, 41, 000 Finished goods mventory, April 1, 21,000 Finished goods inventory, Apnt 30, 17, 000 a. For April, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured. Glenville Company Statement of Cost of Goods Manufactured Total manufacturing costs incurred in April Total manufacturing costs
Fit Apparel Company reports the following data for its first year of operation. Cost of goods manufactured $155,100 0 90,500 Work in process inventory, beginning Work in process inventory, ending Direct materials used Direct Labor 85,000 60,000 100,600 Manufacturing overhead Finished goods inventory, beginning Finished goods inventory, ending What is the cost of goods sold? O A. $155,100 O B. $340,700 O C. $160,600 O D. $85,100 0 70,000
(3)
For February, prime cost incurred was?
Balances: Beginning Ending Direct materials 13,5007 300 Work in process inventory 0 3,400 Finished goods inventory 0 5,100 Other information: Direct materials purchase 36,000 Plant expenses 19,000 Sales salaries 6,200 Delivery of items sold 1,100 Net sales revenue 108,500 Customer hotline costs 4,800 Direct labor 24,000 Create a Schedule of Cost of Good Manufactured. Create an Income Statement.