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How much cost did Bramble incur for purchases of direct materials this month? Direct materials purchased $ 700

How much cost did Bramble incur for purchases of direct materials this month? Direct materials purchased $ 700

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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How much cost did Bramble incur for purchases of direct materials this month? Direct materials purchased $ LA 700
Transcribed Image Text:How much cost did Bramble incur for purchases of direct materials this month? Direct materials purchased $ LA 700
The following are partially completed T-accounts for Bramble. The accountant needs help filling in the remaining details of the accounts before closing month-end and starting next month's transactions. Beginning balance Ending balance Beginning balance Ending balance Beginning balance Ending balance 1. 2. 3. DM Inventory 4. 500 1,200 WIP Inventory 2,100 4,500 FG Inventory 8,800 The only additional information available for this month includes payroll records and a few other items, as follows. 12,600 COGS 204,000 Bramble paid $94,000 in total payroll costs this month, split evenly between hourly manufacturing worker wages and manufacturing supervisor salaries. It paid $3,800 in total utility costs: 75% was for manufacturing facilities, and 25% was for executive and administrative space. Buildings and equipment used in manufacturing are depreciated at a steady rate of $18,000 per month; buildings and office equipment in executive and administrative spaces are depreciated at a steady rate of $13,000 per month. Other indirect material and indirect labor costs amounted to $2,700.
Transcribed Image Text:The following are partially completed T-accounts for Bramble. The accountant needs help filling in the remaining details of the accounts before closing month-end and starting next month's transactions. Beginning balance Ending balance Beginning balance Ending balance Beginning balance Ending balance 1. 2. 3. DM Inventory 4. 500 1,200 WIP Inventory 2,100 4,500 FG Inventory 8,800 The only additional information available for this month includes payroll records and a few other items, as follows. 12,600 COGS 204,000 Bramble paid $94,000 in total payroll costs this month, split evenly between hourly manufacturing worker wages and manufacturing supervisor salaries. It paid $3,800 in total utility costs: 75% was for manufacturing facilities, and 25% was for executive and administrative space. Buildings and equipment used in manufacturing are depreciated at a steady rate of $18,000 per month; buildings and office equipment in executive and administrative spaces are depreciated at a steady rate of $13,000 per month. Other indirect material and indirect labor costs amounted to $2,700.
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