E2-21 (Algo) Calculating Missing Amounts and Cost of Goods Manufactured and Sold [LO 2-3, 2-4, 2-5, 2-6] 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 $ 5,400 51,000 800 1,800 29,000 55,000 47,000 130,000 75,000 71,000 Case 2 11,550 2,200 2,350 14,500 39,350 82,600 38,600 74,800 30,600 79,000 Case 3 Case 4 $ 26,000 $ 109,000 46,640 600 33,620 30,880 94,200 42,9 90,125 52,500 112,875 2,800 94,600 122,950 540,830 101,520 237,200 828,900 398,600 845,400

E2-21 (Algo) Calculating Missing Amounts and Cost of Goods Manufactured and Sold [LO 2-3, 2-4, 2-5, 2-6] 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 $ 5,400 51,000 800 1,800 29,000 55,000 47,000 130,000 75,000 71,000 Case 2 11,550 2,200 2,350 14,500 39,350 82,600 38,600 74,800 30,600 79,000 Case 3 Case 4 $ 26,000 $ 109,000 46,640 600 33,620 30,880 94,200 42,9 90,125 52,500 112,875 2,800 94,600 122,950 540,830 101,520 237,200 828,900 398,600 845,400

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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A manufacturer reports the information below. Finished goods inventory, beginning Finished goods inventory, ending Depreciation on factory equipment Direct labor Indirect labor Factory utilities Selling expenses Direct materials used Indirect materials used Office rent expense Work in process inventory, beginning Work in process inventory, ending Complete this question by entering your answers in the tabs below. Required A Required B Compute cost of goods sold for the period. Goods available for sale Cost of goods sold $ 8,200 9,140 4,800 84,000 36,700 3,200 750 55,900 700 1,200 1,600 2,400 $ 0
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TB MC Qu. 14-140 (Static) Richards Company manufactures a single... 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 Beginning work in process inventory Ending work in process inventory Direct labor Total factory overhead Option A Option B Option C Option D Option E Beginning finished goods inventory Ending finished goods inventory The company's cost of direct materials used, cost of goods manufactured and cost of goods sold are: Cost of Materials Used $90,000 $92,000 $88,000 $88,000 $92,000 Multiple Choice Option A Option B Option C Option D Option E Cost of Goods Manufactured $293,000 $293,000 $263,000 $293,000 $263,000 Cost of Goods Sold $ 10,000 12,000 90,000 40,000 $283,000 $303,000 $283,000 $303,000 $293,000 25,000 130,000 60,000 55,000 45,000
Part B: Compute the cost per equivalent unit fir direct materials and conversion costs Please avoid solutions image based solutions thanku
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