Need Answer of this one pls provide it Hula's Heavyweights, Inc., is a company that manufacturesforklifts. During the year, Hula purchased $1,450,000 ofdirect materials and placed $1,500,000 worth of directmaterials into production. Hula's beginning balance in theMaterials Inventory account was $320,000.What is the ending balance in Hula's Materials Inventoryaccount?

Step 1: Define Direct MaterialsDirect materials are converted into finished goods. These materials…

Answered: Hula's Heavyweights, Inc., is a company…

Principles of Accounting Volume 2

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Chapter4: Job Order Costing

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Problem 4EB: Masonrys records show the raw materials inventory had purchases of $1,000and an ending raw materials...

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Hula's Heavyweights, Inc., is a company that manufactures forklifts. During the year, Hula purchased $1,580,000 of direct materials and placed $1,630,000 worth of direct materials into production. Hula's beginning balance in the Materials Inventory account was $450,000. What is the ending balance in Hula's Materials Inventory account?
Hula's Heavyweights, Inc., is a company that manufactures forklifts. During the year, Hula purchased $1,580,000 of direct materials and placed $1,630,000 worth of direct materials into production. Hula's beginning balance in the Materials Inventory account was $450,000. What is the ending balance in Hula's Materials Inventory account? Correct answer
Sims company reports beginning raw materials inventory of $900 and ending raw materials inventory of $1,100. Assume the company purchased $5,200 of raw materials and used $5,000 of raw materials during the year. Compute raw materials inventory turnover and the number of days' sales in raw materials inventory. Complete this question by entering your answers in the tabs below. Raw Materials Days Sales In Raw Materials Inventory Inventory turnover Compute the number of days' sales in raw materials inventory. Numerator: Days' Sales In Raw Materials Inventory. 1 Denominator: 1
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How do you prepare a schedule of cost of goods manufactured and sold for the year?
. Xenoceratops Corp, a manufacturing concern, started the year with the following inventory balances: widgets, $300,000 and fidgets, $400,000. During the year it purchased $800,000 more of widgets and $1,200,000 more of fidgets. Costs incurred to get the widgets and fidgets ready for sale were $200,000 and $100,000, respectively, and the ending balances were, respectively, $500,000 and $300,000. How much cost of goods sold were there for each product? a. $600,000 widgets; 1,200 fidgets b. $800,000 widgets; $1,400,000 fidgets c. $1,800,000 widgets; $2,000,000 fidgets d. correct answer not provided
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The following data were taken from the records of Kingbird Company for the fiscal year ended June 30, 2022. Raw Materials Inventory 7/1/21 $51,100 Accounts Receivable $34,600 Raw Materials Inventory 6/30/22 41,600 Factory Insurance 5,200 Finished Goods Inventory 7/1/21 96,800 Factory Machinery Depreciation 16,800 Finished Goods Inventory 6/30/22 27,800 Factory Utilities 29,700 Work in Process Inventory 7/1/21 21,300 Office Utilities Expense 9,550 Work in Process Inventory 6/30/22 27,900 Sales Revenue 563,900 Direct Labor 144,350 Sales Discounts 4,600 Indirect Labor 26,360 Factory Manager’s Salary 64,300 Factory Property Taxes 9,610 Factory Repairs 2,500 Raw Materials Purchases 97,200 Cash 37,900
The following data were taken from the records of Vaughn Company for the fiscal year ended June 30, 2020. Raw Materials Inventory 7/1/19 $51,500 Factory Insurance $5,400 Raw Materials Inventory 6/30/20 47,900 Factory Machinery Depreciation 17,200 Finished Goods Inventory 7/1/19 98,100 Factory Utilities 29,000 Finished Goods Inventory 6/30/20 27,700 Office Utilities Expense 9,050 Work in Process Inventory 7/1/19 25,200 Sales Revenue 561,600 Work in Process Inventory 6/30/20 21,000 Sales Discounts 4,900 Direct Labor 145,850 Plant Manager’s Salary 61,200 Indirect Labor 25,260 Factory Property Taxes 9,710 Accounts Receivable 35,200 Factory Repairs 1,700 Raw Materials Purchases 98,500 Cash 37,200 1. Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct materials.)
The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020. Raw Materials Inventory 7/1/19 $48,000 Factory Insurance $4,600 Raw Materials Inventory 6/30/20 39,600 Factory Machinery Depreciation 16,000 Finished Goods Inventory 7/1/19 96,000 Factory Utilities 27,600 Finished Goods Inventory 6/30/20 75,900 Office Utilities Expense 8,650 Work in Process Inventory 7/1/19 19,800 Sales Revenue 534,000 Work in Process Inventory 6/30/20 18,600 Sales Discounts 4,200 Direct Labor 139,250 Plant Manager’s Salary 58,000 Indirect Labor 24,460 Factory Property Taxes 9,600 Accounts Receivable 27,000 Factory Repairs 1,400 Raw Materials Purchases 96,400 Cash 32,000 (a) Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct materials.) CLARKSON COMPANYCost of Goods Manufactured Schedule…
The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020. Raw Materials Inventory 7/1/19 $48,000 Factory Insurance $4,600 Raw Materials Inventory 6/30/20 39,600 Factory Machinery Depreciation 16,000 Finished Goods Inventory 7/1/19 96,000 Factory Utilities 27,600 Finished Goods Inventory 6/30/20 75,900 Office Utilities Expense 8,650 Work in Process Inventory 7/1/19 19,800 Sales Revenue 534,000 Work in Process Inventory 6/30/20 18,600 Sales Discounts 4,200 Direct Labor 139,250 Plant Manager’s Salary 58,000 Indirect Labor 24,460 Factory Property Taxes 9,600 Accounts Receivable 27,000 Factory Repairs 1,400 Raw Materials Purchases 96,400 Cash 32,000 Prepare an income statement through gross profit.
How much is the cost of goods sold for the year ?

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