Subject: acounting Fill in the missing information on the cost of goods manufactured schedule of Cullumber Manufacturing Company: (Assume all rawmaterials used were direct materials.)Work in process inventory (1/1)Direct materialsRaw materials inventory (1/1) $Raw materials purchasesRaw materials available for useRaw materials inventory(12/31)Direct materials usedDirect laborManufacturing overheadIndirect laborFactory depreciationFactory utilitiesTotal overheadTotal manufacturing costsTotal cost of work in processLess: Work in process inventory(12/31)Cost of goods manufacturedCULLUMBER MANUFACTURING COMPANYCost of Goods Manufactured ScheduleFor the Year Ended December 31, 2022314,88047,36024,32048,64049,920$326,400$435,200412,160$614,400

Lets understand the basics. Cost of goods manufactured schedule shows how much cost incurred to…

Fill in the missing information on the cost of goods manufactured schedule of Cullumber Manufacturing Company: (Assume all raw materials used were direct materials.) Work in process inventory (1/1) Direct materials Raw materials inventory (1/1) $ CULLUMBER MANUFACTURING COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2022 $435,200

Fill in the missing information on the cost of goods manufactured schedule of Cullumber Manufacturing Company: (Assume all raw materials used were direct materials.) Work in process inventory (1/1) Direct materials Raw materials inventory (1/1) $ CULLUMBER MANUFACTURING COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2022 $435,200

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 13PB: Selected information from Hernandez Corporation shows the following: Prepare journal entries to...

See similar textbooks

Similar questions

Freeman Furnishings has summarized its data as shown: Compute the cost of goods manufactured, assuming that the overhead is allocated based on direct labor hours
In a job order cost system, indirect labor incurred is debited to which account? A. work in process inventory B. finished goods inventory C. manufacturing overhead D. cost of goods sold
In a job order cost system, factory wage expense is debited to which account? A. raw materials inventory B. work in process inventory C. finished goods inventory D. cost of goods sold
In a job order cost system, utility expense incurred is debited to which account? A. work in process inventory B. finished goods inventory C. manufacturing overhead D. cost of goods sold
Statement of cost of goods manufactured and income statement for a manufacturing company The following information is available for Robstown Corporation for 20Y8: Instructions 1. Prepare the 20Y8 statement of cost of goods manufactured. 2. Prepare the 20Y8 income statement.
Statement of cost of goods manufactured and income statement for a manufacturing company The following information is available for Shanika Company for 20Y6: Instructions 1. Prepare the 20Y6 statement of cost of goods manufactured. 2. Prepare the 20Y6 income statement.
In a job order cost system, overhead applied is debited to which account? A. work in process inventory B. finished goods inventory C. manufacturing overhead D. cost of goods sold
Assigning indirect costs to specific jobs is completed by which of the following? applying the costs to manufacturing overhead using the predetermined overhead rate using the manufacturing costs incurred applying the indirect labor to the work in process inventory
Which of the following is a prime cost? A. direct labor B. work in process inventory C. administrative labor D. factory maintenance expenses
The following information is available for the first year of operations of Creston Inc., a manufacturer of fabricating equipment: Determine the following amounts: a. Cost of goods sold b. Direct materials cost c. Direct labor cost
Which document lists the inventory that will be removed from the raw materials inventory? A. job cost sheet B. purchase order C. materials requisition form D. receiving document
Selected information from Hernandez Corporation shows the following: Prepare journal entries to record the following: raw material purchased direct labor incurred depreciation expense (hint: this is part of manufacturing overhead) raw materials used overhead applied on the basis of $0.50 per machine hour the transfer from department 1 to department 2