Hamilton Textiles has the following data: • Beginning raw materials inventory = $90,000 Materials purchased = $55,000 Ending raw materials inventory = $75,000 Calculate the cost of raw materials used.
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- The following product Costs are available for Haworth Company on the production of chairs: direct materials, $15,500; direct labor, $22.000; manufacturing overhead, $16.500; selling expenses, $6,900; and administrative expenses, $15,200. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 7,750 equivalent units are produced, what is the equivalent material cost per unit? If 22,000 equivalent units are produced, what is the equivalent conversion cost per unit?The following product costs are available for Kellee Company on the production of eyeglass frames: direct materials, $32,125; direct labor, $23.50; manufacturing overhead, applied at 225% of direct labor cost; selling expenses, $22,225; and administrative expenses, $31,125. The direct labor hours worked for the month are 3,200 hours. A. What are the prime costs? B. What are the conversion costs? C. What is the total product cost? D. What is the total period cost? E. If 6.425 equivalent units are produced, what is the equivalent material cost per unit? F. What is the equivalent conversion cost per unit?What are the total costs to account for if a companys beginning inventory had $23,432 in materials and $18,450 in conversion costs, and added direct material costs ($41,392), direct labor ($23,192), and manufacturing overhead ($62,500)?
- Calculate the cost of raw materials usedAssume the following: Purchases of raw materials $ 38,000 Indirect materials used in production $ 6,000 Beginning raw materials inventory $ 10,000 Ending raw materials inventory $ 14,000 What is the direct materials used in production?Use the following information for a manufacturer to compute cost of goods manufactured and cost of goods sold: Data Table Balances: Beginning Ending Direct Materials $20,000 $32,000 Work-in-Process Inventory 39,000 37,000 Finished Goods Inventory 14,000 23,000 Data Table Other information: Purchases of direct materials $79,000 Direct labor 80,000 Manufacturing overhead 41,000 First, compute cost of goods manufactured. Schedule of Cost of Goods Manufactured Direct Materials Used: Direct Materials Used Total Manufacturing Costs Incurred during the Year Total Manufacturing Costs to Account For Cost of Goods…
- Use the following data from a company using a process costing system to answer the question below. Conversion cost per equivalent unit for materials $2.50 Cost per equivalent unit for conversion $3.75 Beginning inventory costs $1, 200 Equivalent units for beginning inventory conversion 2, 400 Equivalent Units started and completed for both materials and conversion 10,000 Compute cost of good manufactured A. $10, 200 B. $72, 700 C. $71,500 D. $62, 500Use the following information for a manufacturer to compute cost of goods manufactured and cost of goods sold: Data Table Balances: Beginning Ending Direct Materials $23,000 $31,000 Work-in-Process Inventory 44,000 37,000 Finished Goods Inventory 20,000 22,000 Data Table Other information: Purchases of direct materials $76,000 Direct labor 89,000 Manufacturing overhead 42,000 First, compute cost of goods manufactured. Schedule of Cost of Goods Manufactured Beginning Work-in-Process Inventory Direct Materials Used: Direct Materials Used Total Manufacturing Costs Incurred during the Year Total Manufacturing Costs to Account For…Use the following information for a manufacturer to compute cost of goods manufactured and cost of goods sold: 1(Click the icon to view account balances.) 2(Click the icon to view other information.) First, compute cost of goods manufactured. Schedule of Cost of Goods Manufactured Beginning Work-in-Process Inventory $42,000 Direct Materials Used: Beginning Direct Materials $21,000 Purchases of Direct Materials 78,000 Direct Materials Available for Use 99,000 Ending Direct Materials (33,000) Direct Materials Used $66,000 Direct Labor 81,000 Manufacturing Overhead 41,000 Total Manufacturing Costs Incurred during the Year 188,000 Total Manufacturing Costs to Account For 230,000 Ending Work-in-Process…
