not use ai please don't Determine the missing amounts in each of the following independent cases.Note: Enter all answers as positive value.Case ACase BCase CBeginning inventory, raw$20,000 $15,000materialEnding inventory, raw material90,00030,000Purchases of raw material100,00085,000Direct material70,00095,000Direct labor100,000125,000Manufacturing overhead250,000160,000Total manufacturing costs520,000345,000340,000Beginning inventory, work in35,00020,000CEprocessEnding inventory, work in35,0005,000processCost of goods manufactured525,000350,000Beginning inventory, finished50,00040,000goodsCost of goods available for sale370,000Ending inventory, finishedgoods25,000Cost of goods sold545,000330,000Sales480,000Gross margin255,000170,000Selling and administrativeexpenses75,000Income before taxes150,00090,000Income tax expense40.00045.000+

Case A : -Calculation of the missing amounts : -Total manufacturing costs = Direct material used +…

Answered: Determine the missing amounts in each…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 12EA: What are the total costs to account for if a companys beginning inventory had $231,432 in materials,...

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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. Case 1 Case 2 Case 3 Case 4 Beginning raw materials Raw materials purchases Indirect materials issued Ending raw materials $ 69 6,900 $ 25,000 $ 108,000 54,000 11,250 50,640 500 2,500 700 2,900 1,500 2,950 95,000 Direct materials used 14,300 33,420 Direct labor 37,000 122,750 Manufacturing overhead applied 61,000 38,950 30,280 539,830 Total current manufacturing costs 82,600 94,400 Beginning work in process 50,000 36,600 100,520 Ending work in process 43,150 237,600 Cost of goods manufactured 138,000 71,800 91,025 826,900 Beginning finished goods 77,000 52,900 Ending finished goods 79,000 30,100 398,100 Cost of goods sold 75,000 112,575 842,400
For each of the following independent cases (1 to 4), compute the missing values. (Enter all amounts as positive values.) Case 1 Case 2 Case 3 Case 4 Beginning raw material $7,000 $16,000 $55,000 Raw materials purchases Indirect materials issued Ending raw materials 63,000 24,500 33,312 1,400 2,000 1,200 1,000 2,800 4,500 46,750 Direct materials used 27,000 26,976 Direct labor 40,600 61,625 Manufacturing overhead applied 72,800 80,700 24,864 270,865 Total current manufacturing costs 151,200 74,320 Beginning work in process 57,400 65,200 51,260 Ending work in process 33,000 118,050 Cost of goods manufactured 194,600 159,600 71,380 412,950 Beginning finished goods 100,800 41,520 Ending finished goods 112,000 60.200 198,600 Cost of goods sold 142,000 90,700 419,700
Problem 7: Cost of Production Report Helen Company uses FIFO process costing. Data are as follows: Beginning inventory 40% complete Units completed during period Ending inventory 70% complete 25,000 units 500,000 units 45,000 units
Calculate the ending work in process inventory?
Use the included information about Raw Materials Inventory (RM), Work in Process Inventory (WIP), Finished Goods Inventory (FG), and the Income Summary (IS). Determine the total conversion costs added. 1 2 3 4 5 6 7 1 00 RM B Bal T1 T2 T3 T4 E Bal 8 9 FG 10 B Bal 11 T1 12 T2 13 T3 14 T4 15 E Bal 2 Debits 4300 29 050 Debits 4800 45 592 3 Credits 28 000 Credits 33 500 4 5 WIP B Bal DM DL FOH CGM E Bal IS Rev CGS V Op Exp F Op Exp NIBT 6 Debits 8920 28 000 17 430 11 130 Debits 33 500 5130 7960 7 Credits 45 592 Credits 66 200
For each of the following independent cases A-D, compute the missing values: (Enter all amounts as positive v Total Current Beginning Work Ending Work in in Process Inventory Cost of Goods Case Manufacturing Costs Process Inventory Manufactured A. 2$ 5,200 $ 1,700 $ 700 B 1,700 1,420 2,610 C 580 1,590 7,310 D 8,850 1,050 6,775
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All applicable Cases are available with McGraw-Hill’s Connect™Accounting. Cost of goods manufactured, cost of goods sold, and income statement Determine each of the following missing amounts:Firm A Firm B Firm CBeginning raw materials inventory . . . . . . . . . . . . . . . . . $ 17,000 $ ? $ 42,000Purchases of raw materials during the year . . . . . . . . . . ? 96,000 226,000Raw materials available for use . . . . . . . . . . . . . . . . . . . ? 119,000 ?Ending raw materials inventory . . . . . . . . . . . . . . . . . . . 12,000 ? 51,000Cost of raw materials used . . . . . . . . . . . . . . . . . . . . . . 90,000 101,000 ?Direct labor costs incurred. . . . . . . . . . . . . . . . . . . . . . . 130,000 ? 318,000Variable manufacturing overhead applied. . . . . . . . . . . . ? 34,000 72,000Fixed manufacturing overhead applied. . . . . . . . . . . . . . 100,000 60,000 ?Total manufacturing costs incurred . . . . . . . . . . . . . . . . 370,000 ? ?Beginning work in process. . . . . . . . .…
gEnabled: Exam For each of the following independent cases, compute the missing values: Total Manufacturing Overhead Manufacturing Cost Direct Conversion Cost Direct Labor Case Prime Cost Materials Used 4,400 6,100 $ 7,700 14,800 10,100 2$ 13,100 $ 23,500 $ B 2$ 2,500 $ C 2$ 23,000 $ 40,100 $ 23,300 $ 5,000 $ 9,350 28,300 17,420 $ 2$ 6,130 $ 9,120 $ %24
From the following data, determine the total Cost of Goods Manufactured (COGM): Costs of units in beginning Work-in-Progress (WIP) Inventory $78500.00Costs added to units in beginning WIP Inventory this period 19500.00Costs of units started and completed 153000.00Cost of units started and incomplete 57500.00 Cost of units in ending WIP inventory 57500.00 A. $269500.00 B. $251000.00 C. $268000.00D. $308500.00
The data given below relate to Materials AAA used by Jose Company: Beginning balance, 480 at P4.80 each Purchase Order #30, 600 at P4.90 each  Requisition #46, 175 Requisition #49, 225 Requisition #50, 280 Purchase Order #96, 400 at P4.95 each Requisition #52, 310 Returned materials report 24 (from requisition #50), 20What is the cost of ending inventory using the FIFO costing method?a. P2,519.00b. P2,421.00c. P2,500.00d. P2,400.00

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