OPING A COST DATA BASE FOR MANAGERIAL ACCOUNTING Problem 2-5 Detomining Cost ol Goods Sold. The treasurer of Hale Company has accumulated cost data concerning the com- pany's 1990 manufacturing performance. The beginning inventories included raw materials ($192,200), work in process ($128,000), and finisbei goods ($236,000). The company's direct labor costs were $1,353,600 and its total c. st of goods manu- factured was $4,820,000 for the year. Manufacturing overhead costs are a constant percentage of direct labor costs. The ending inventories include the following costs: Work in Finished Raw Materials Process Goods $ 60,000 52,800 79,200 $192,000 $44,000 44,800 Raw materials $176,000 Direct labor Manufacturing overhead Total encilng inventory $176,000 Required: Trepare a schedule showing the cost of goods sold for 1990. oblem 2-6 Detemining Cost of Goods Sold oward Manufacturing Corporation incurred direct labor costs of $453,600, and i tal cost of goods manufactured was $1,480,000 for 1990. Manufacturing overbea sts are a constant percentage of direct labor costs. The beginaing inventories in ded raw materials ($90,000), work in process ($99,600), and finished good 50,000). The ending inventories include the following costs: Following December
OPING A COST DATA BASE FOR MANAGERIAL ACCOUNTING Problem 2-5 Detomining Cost ol Goods Sold. The treasurer of Hale Company has accumulated cost data concerning the com- pany's 1990 manufacturing performance. The beginning inventories included raw materials ($192,200), work in process ($128,000), and finisbei goods ($236,000). The company's direct labor costs were $1,353,600 and its total c. st of goods manu- factured was $4,820,000 for the year. Manufacturing overhead costs are a constant percentage of direct labor costs. The ending inventories include the following costs: Work in Finished Raw Materials Process Goods $ 60,000 52,800 79,200 $192,000 $44,000 44,800 Raw materials $176,000 Direct labor Manufacturing overhead Total encilng inventory $176,000 Required: Trepare a schedule showing the cost of goods sold for 1990. oblem 2-6 Detemining Cost of Goods Sold oward Manufacturing Corporation incurred direct labor costs of $453,600, and i tal cost of goods manufactured was $1,480,000 for 1990. Manufacturing overbea sts are a constant percentage of direct labor costs. The beginaing inventories in ded raw materials ($90,000), work in process ($99,600), and finished good 50,000). The ending inventories include the following costs: Following December
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Solve Problem 2.5
Transcribed Image Text:OPING A COST DATA BASE FOR MANAGERIAL ACCOUNTING
Problem 2-5 Detomining Cost ol Goods Sold
The treasurer of Hale Company has accumulated cost data coocerning the com-
pany's 1990 manufacturing performance. The beginning inventories included raw
materials ($192,200), work in process ($128,000), and finisbed goods ($236,000).
The company's direct labor costs were $1,353,600 and its total c st of goods manu-
factured was $4,820,000 for the year. Manufacturing overhead costs are a constant
percentage of direct labor costs. The ending inventories include the following costs:
Work in
Finished
Raw
Materials
Process
Goods
$ 60,000
52,800
79,200
$192,000
$44,000
44,800
Raw materials
$176,000
Direct labor
Manufacturing overhead
Total enaing invenlory
$176,000
Required:
Prepare a schedule showing the cost of goods sold for 1990.
oblem 2-6 Detemining Cost of Goods Sold
oward Manufacturing Corporation incurred direct labor costs of $453,600, and it
tal cost of goods manufactured was $1,480,000 for 1990. Manufacturing overbea
sts are a constant percentage of direct labor costs. The beginuing inventories in
ded raw materials ($90,000), work in process ($99,600), and finished good
50,000). The ending inventories include the following costs:
Following information a
December 31,
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