Given below is the manufacturing data Given below is the manufacturing data:Direct material inventoryBeginning Ending$90,000 $110,000Work-in progress inventory $180,000 $120,000Finished goods inventory $300,000 $400,000Purchased direct material $300,000Direct laborFactory overheadNet salesPeriod costWhat is the net profit?$170,000$190,000$1,000,000$280,000

Concept of Direct Material Inventory:Direct material inventory refers to the raw materials that a…

Answered: Given below is the manufacturing data:…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

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Chapter5: Process Costing

Section: Chapter Questions

Problem 10MC: Direct material costs $3 per unit, direct labor costs $5 per unit, and overhead is applied at the...

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Last year, Orsen Company produced 25,000 juicers and sold 26,500 juicers for 60 each. The actual variable unit cost is as follows: Fixed overhead was 320,000. Fixed selling expenses consisted of advertising copayments totaling 110,000. Fixed administrative expenses were 236,000. There were no beginning and ending work-in-process inventories. Beginning finished goods inventory was 148,000 for 4,000 juicers. The value of ending inventory reported on the financial statements was Refer to the information in 2.24. The gross margin percentage for last year was a. 12.57% b. 55.67% c. 28.95% d. 38.33%
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How much gross profit was realized from this sale on this general accounting question?
Assume the following information for a company that produced 10,000 units and sold 8,000 units during its first year of operations and produced 8,000 units and sold 10,000 units during its second year of operations: Per Unit $ 200 $75 $ 50 $ 10 $8 Per Year Selling price Direct materials Direct labor Variable manufacturing overhead Sales commission Fixed manufacturing overhead Using absorption costing, what is the cost of goods sold for the second year of operations? $ 300,000
Assume the following information for a company that produced 10,000 units and sold 9,000 units during its first year of operations: Selling price Direct materials Direct labor Variable manufacturing overhead Sales commission Fixed manufacturing overhead Per Unit Per Year $ 200 $ 73 $ 50 $ 11 $ 8 $ 300,000 Using variable costing, what is the cost of the company's ending inventory?
1.The following data are given by Domestic Mfg. Corp.: Increase in Finished Goods Inventory 12,000.00 Decrease in Raw materials Inventory 10,000.00 Increase in Work in Process Inventory 5,000.00 Purchase Returns and Allowances 6,000.00 Freight In 7,000.00 Labor Cost 65,000.00 Factory Overhead 25,000.00 Cost of Goods Sold 153,000.00 How much must be raw materials purchases? 2. The ff. information is provided by Maunlad Mfg. Corp.: Cost of…
Given the following information, determine the markup per unit. Direct materials $76,000 Direct labor $130,000 Factory overhead $56,500 Selling and administrative expenses $43,000 Estimated units to be produced and sold 15,000 Total assets $200,000 Desired rate of return 10% Normal selling price per unit $21.70
The following costs relate to Antonio Industries for the last quarter: Conversion cost Direct materials Manufacturing overhead Selling and administrative expense P 435,000 215,000 190,000 185,000 1. What is Antonio's prime cost for last quarter? a. P460,000 b. P 410,000 c. P 405,000 d. P375,000 2. Antonio's total manufacturing cost is P 460,000 b. P 645,000 P 650,000 d. a. C. P 840,000 3. Antonio's total period cost is P 185,000 b. a. P 275,000 P 400,000 d. с. P 620,000
Sales Revenue Finished Goods Inventory, Beginning Finished Goods Inventory, Ending Cost of Goods Sold Gross Margin Direct Materials Used Selling and Administrative Expense Operating Income Work-in-Process Inventory, Beginning Work-in-Process Inventory, Ending Direct Labor Used Factory Overhead Total Manufacturing Cost Cost of Goods Manufactured Selling and administrative expenses are calculated to be: Multiple Choice $12.000. $4,000. $ 58,000 9,000 6,000 2 25,000 10,000 ? 14,000 ? 5,000 9,000 12,000 ? ?
Delilah Incorporated provided the following information regarding its only product: Sale price per unit $50.00Direct materials used $160,000Direct labor incurred $185,000Variable manufacturing overhead $120,000Variable selling and administrative expenses $70,000Fixed manufacturing overhead $65,000Fixed selling and administrative expenses $12,000Units produced and sold 20,000 unitsAssume no beginning inventory Assuming there is excess capacity, what would be the effect on operating income of accepting a special order for 5,000 units at a sale price of $40 per unit? (NOTE: Assume regular sales are not affected by the special order and all orders incur variable selling and administrative expenses) Select one: a. Increase by $123,250 b. Increase by $78,750 c.…

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