Find the cost of goods manufactured general accounting 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: Define Material CostsManufacturing costs play an essential role in determining the cost of…

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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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Similar questions

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
What is the cost of goods manufactured if beginning work in process was $30,000, ending work in process was $30,000, raw materials used were $60,000, direct labor was $50,000, and manufacturing overhead was $20,000? $130,000 $160,000 $110,000 $190,000
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What is the Manufacturing overhead allocated?
If the cost of the beginning work in process is $67, 000 direct materials cost is $357, 000 direct labor cost is $223, 000 and overhead cost is $326, 000 and the ending work in process inventory is $62, 000 calculate the cost of goods manufactured
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?
In the manufacture of 9,400 units of a product, direct materials cost incurred was $170,200, direct labor cost incurred was $110,800, and applied factory overhead was $49,000. What is the total conversion cost? a.$159,800 b.$49,000 c.$170,200 d.$330,000

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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