Larkspur Corporation has the following cost records for June 2022.Indirect factory laborDirect materials usedWork in process, 6/1/22Work in process, 6/30/22Finished goods, 6/1/22Finished goods, 6/30/22(a)$4,80020,800Factory utilitiesDepreciation, factory equipmentDirect laborMaintenance, factory equipment3,1203,9605,200 Indirect materials used7,800 Factory manager's salaryYour answer is partially correct.Prepare a cost of goods manufactured schedule for June 2022.$4201,46041,6001,8802,4003,120 +LARKSPUR CORPORATIONCost of Goods Manufactured ScheduleFor the Month Ended June 30, 2022000000M

The cost of goods manufactured schedule is used to calculate the cost of manufacturing things over…

Larkspur Corporation has the following cost records for June 2022. Indirect factory labor $4,800 Direct materials used 20,800 Work in process, 6/1/22 3,120 Work in process, 6/30/22 3,960 Maintenance, factory equipment Finished goods, 6/1/22 5,200 Indirect materials used Finished goods, 6/30/22 7,800 Factory manager's salary (a) Factory utilities Depreciation, factory equipment Direct labor Your answer is partially correct. Prepare a cost of goods manufactured schedule for June 2022. $420 1,460 41,600 1,880 2,400 3,120

Larkspur Corporation has the following cost records for June 2022. Indirect factory labor $4,800 Direct materials used 20,800 Work in process, 6/1/22 3,120 Work in process, 6/30/22 3,960 Maintenance, factory equipment Finished goods, 6/1/22 5,200 Indirect materials used Finished goods, 6/30/22 7,800 Factory manager's salary (a) Factory utilities Depreciation, factory equipment Direct labor Your answer is partially correct. Prepare a cost of goods manufactured schedule for June 2022. $420 1,460 41,600 1,880 2,400 3,120

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter10: Accounting Systems For Manufacturing Operations

Section: Chapter Questions

Problem 10.9E: Recording issuing of materials Materials issued for the current month are as follows a. Determine...

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Recording issuing of materials Materials issued for the current month are as follows a. Determine the amount of materials transferred lo Work in Process and Factory Overhead for the current month. b.Illustrate (he effect on the accounts and financial statements of the materials transferred in (a).:
Larkspur Corporation has the following cost records for June 2025. Indirect factory labor Direct materials used Work in process, 6/1/25 Work in process, 6/30/25 Finished goods, 6/1/25 Finished goods, 6/30/25 (a) O $3,700 16,400 2,460 3,080 Factory utilities Depreciation, factory equipment Your answer is partially correct. Direct labor Maintenance, factory equipment 4,100 Indirect materials used 6,150 Factory manager's salary Prepare a cost of goods manufactured schedule for June 2025. $310 1,130 32,800 1,440 1,850 2,460
The given miscellaneous data has been collected for a manufacturing company for the year ended 12/31/2020. Inventories: • Beginning - raw material_P50,000 - work in process_P40,000 - finished goods_P60,000 • Ending - raw material_P55,000 - work in process_P45,000 - finished goods_P50,000 costs recorded during the year: - purchases of raw material_P195,000 - direct labor_P150,000 - COGS_P595,000 - freight out_P25,000 - purchase discount_P32,000 - purchase return and allowances_P23,000 Required: Prepare a statement of cost of goods manufactured.
Aikman Corporation has the following cost records for June 2022: Indirect factory labour Direct materials used Work in process (6/1/22) Work in process (6/30/22) Finished goods (6/1/22) Finished goods (6/30/22) S 4,850 25,200 3,200 3,400 5,350 9,300 Factory utilities Depreciation, factory equipment Direct labour Maintenance, factory equipment Indirect materials Factory manager's salary-11: $500 1,600 30,900 2,200 2,300 3,100 (a) Prepare a cost of goods manufactured schedule for June 2022.
Shubarquduq Coal Mine's (SCM) manufacturing costing system is comprised of a three-part classification of direct materials, direct manufacturing labor, and manufacturing overhead costs. The below information is extracted from the accounting system of the SCM. For Particular Date For Year of 2025 WIP inventory, 01.01.2025 $14 Plant utilities $ 30 DM inventory, 31.12.2025 23 Indirect manufacturing labor 61 FG inventory, 31.12.2025 63 Depreciation—plant and equipment 81 Accounts payable, 31.12.2025 40 Revenues 951 Accounts receivable, 01.01.2025 27 Miscellaneous manufacturing overhead 32 WIP inventory, 31.12.2025 7 Marketing, distribution, andcustomer-service costs 245 FG inventory, 01.01.2025 55 Direct materials purchased 336 Accounts receivable, 31.12.2025 40 Direct manufacturing labor 109 Accounts payable, 01.01.2025 36 Plant supplies…
Shubarquduq Coal Mine's (SCM) manufacturing costing system is comprised of a three-part classification of direct materials, direct manufacturing labor, and manufacturing overhead costs. The below information is extracted from the accounting system of the SCM. For Particular Date For Year of 2025 WIP inventory, 01.01.2025 $14 Plant utilities $ 30 DM inventory, 31.12.2025 23 Indirect manufacturing labor 61 FG inventory, 31.12.2025 63 Depreciation—plant and equipment 81 Accounts payable, 31.12.2025 40 Revenues 951 Accounts receivable, 01.01.2025 27 Miscellaneous manufacturing overhead 32 WIP inventory, 31.12.2025 7 Marketing, distribution, andcustomer-service costs 245 FG inventory, 01.01.2025 55 Direct materials purchased 336 Accounts receivable, 31.12.2025 40 Direct manufacturing labor 109 Accounts payable, 01.01.2025 36 Plant supplies…
Shubarquduq Coal Mine's (SCM) manufacturing costing system is comprised of a three-part classification of direct materials, direct manufacturing labor, and manufacturing overhead costs. The below information is extracted from the accounting system of the SCM. For Particular Date For Year of 2025 WIP inventory, 01.01.2025 $14 Plant utilities $ 30 DM inventory, 31.12.2025 23 Indirect manufacturing labor 61 FG inventory, 31.12.2025 63 Depreciation—plant and equipment 81 Accounts payable, 31.12.2025 40 Revenues 951 Accounts receivable, 01.01.2025 27 Miscellaneous manufacturing overhead 32 WIP inventory, 31.12.2025 7 Marketing, distribution, andcustomer-service costs 245 FG inventory, 01.01.2025 55 Direct materials purchased 336 Accounts receivable, 31.12.2025 40 Direct manufacturing labor 109 Accounts payable, 01.01.2025 36 Plant supplies…
Shubarquduq Coal Mine's (SCM) manufacturing costing system is comprised of a three-part classification of direct materials, direct manufacturing labor, and manufacturing overhead costs. The below information is extracted from the accounting system of the SCM. For Particular Date For Year of 2025 WIP inventory, 01.01.2025 $14 Plant utilities $ 30 DM inventory, 31.12.2025 23 Indirect manufacturing labor 61 FG inventory, 31.12.2025 63 Depreciation—plant and equipment 81 Accounts payable, 31.12.2025 40 Revenues 951 Accounts receivable, 01.01.2025 27 Miscellaneous manufacturing overhead 32 WIP inventory, 31.12.2025 7 Marketing, distribution, andcustomer-service costs 245 FG inventory, 01.01.2025 55 Direct materials purchased 336 Accounts receivable, 31.12.2025 40 Direct manufacturing labor 109 Accounts payable, 01.01.2025 36 Plant supplies…
The following information pertaining to X Co.'s manufacturing operations: Inventories March 1, 2021 March 31, 2021 Direct Materials P36,000 P30,000 Work in process 18,000 12,000 Finished Goods 54,000 72,000 Additional information for the month of March 2021: Direct materials purchased P84,000 Direct manufacturing labor payroll 60,000 Direct manufacturing labor rate per hour 7.50 Factory overhead rate per direct labor hour 10.00
The records of ABC Corporation revealed the following data for the current year. Work_in_Process_P73,150 Finished_Goods_P115,000 Cost_of_Goods_Sold_P133,650 Direct_Labor_P111,600 Direct_Material_P84,200. Assume that ABC has underapplied overhead of P37,200 and that this amount is material. How much is the denominator use to allocate the underapplied overhead?
The following selected information pertains to ABC Processing Company; Direct materials, P62,500; indirect materials, P14,500; factory payroll, P75,000 of direct labor payroll and P11,250 of indirect labor; and other factory overhead incurred, P37,500. What is the total conversion cost?
Determine the manufacturing overhead of Cleene Company using the following information: • Work in process, ending_P8,000 • Work in process, beginning_P11,000 • Cost of goods manufactured_P70,000 • Direct labor_P25,000 • Direct materials_P20,000