hello teacher please solve questions Find the cost of goods manufactured from the following:Direct materials usedDirect labor$240,000$200,000Manufacturing overhead $300,000Operating expenses$350,000Beginning work in process $40,000Ending work in process$20,000Beginning finished goods $50,000Ending finished goods$30,000

Step 1: Definition of Cost of Goods Manufactured (COGM)Cost of Goods Manufactured (COGM) represents…

Answered: Find the cost of goods manufactured…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 1PB: The following product costs are available for Stellis Company on the production of erasers: direct...

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A production department within a company received materials of $10,000 and conversion costs of $10,000 from the prior department. It added material of $27,200 and conversion costs of $53,000. The equivalent units are 20,000 for material and 18,000 for conversion. What is the unit cost for materials and conversion?
What is the conversion cost to manufacture insulated travel cups if the costs are: direct materials, $17,000; direct labor, $33,000; and manufacturing overhead, $70,000? A. $16,000 B. $50,000 C. $103,000 D. $120000
The cost of direct materials transferred into the Rolling Department of Kraus Company is 3,000,000. The conversion cost for the period in the Rolling Department is 462,600. The total equivalent units for direct materials and conversion are 4,000 tons and 3,855 tons, respectively. Determine the direct materials and conversion costs per equivalent unit.
Steeler Towel Company estimates its overhead to be $250,000. It expects to have 100,000 direct labor hours costing $2,500,000 in labor and utilizing 12,500 machine hours. Calculate the predetermined overhead rate using: A. Direct labor hours B. Direct labor dollars C. Machine hours
Assume the following information pertaining to Star Company: Prime costs $ 195,000 Conversion costs 221,000 Direct materials used 85,000 Beginning work in process Ending work in process 98,000 81,000 Direct labor used is calculated to be:
ssume the following information: Milling Department Materials Conversion Total Cost of beginning work in process inventory $ 10,000 $ 15,000 $ 25,000 Costs added during the period 291,600 394,500 686,100 Total cost $ 301,600 $ 409,500 $ 711,100 Assume the equivalent units of production for materials and conversion, when using the weighted-average method, are 5,200 units and 5,000 units, respectively. If the equivalent units in ending work in process inventory for materials and conversion are 400 units and 200 units, respectively, then what is the total cost of ending work in process for the Milling Department?
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Question: Schedule of Activity Costs Quality Control Activities Process audits Activity Cost $50,000 Training of machine operators 28,000 Processing returned products 19,000 Scrap processing (disposal) 25,000 Rework 8,000 Preventative maintenance 30,000 Product design 46,000 Warranty work 12,000 Finished goods inspection 23,000 From the above schedule of activity costs, determine the total activity cost.
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Given the following information, assuming all materials are added at the beginning of the process, calculate the total cost to be assigned to ending work in process for the period. Direct Material Conversion Total Cost per equivalent unit $3.00 $2.50 Units completed and transferred out 48,000 Units in work in process, ending, 70% complete 20,000 Multiple choice question. $95,000 $359,000 $144,000 $264,000
Golding's finishing department had the following data for July: Transferred-In Materials Conversion Units transferred out 60,000 60,000 60,000 Units in EWIP 14,000 12,000 13,000 Equivalent units 74,000 72,000 73,000 Costs: Work in process, July 1: Transferred-in from fabricating $2,100 Materials 1,500 Conversion costs 3,000 Total $6,600 Current costs: Transferred-in from fabricating $30,900 Materials 22,500 Conversion costs 45,300 Total $98,700 Required: 1. Calculate unit costs for the following categories: transferred-in, materials, and conversion. Round your answers to the nearest cent. Unit transferred-in cost $fill in the blank 1 Unit materials cost $fill in the blank 2 Unit conversion cost $fill in the blank 3 2. Calculate total unit cost. Round your answer the nearest cent.

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Find the cost of goods manufactured from the following: Direct materials used Direct labor $240,000 $200,000 Manufacturing overhead $300,000 Operating expenses $350,000 Beginning work in process $40,000 Ending work in process $20,000 Beginning finished goods $50,000 Ending finished goods $30,000