what was the beginning work in process inventory balance ? Pioneer Manufacturing provided the following information:⚫ Direct Labor: $8,500⚫ Direct Materials Used: $3,500⚫ Raw Materials Purchased: $7,000• Cost of Goods Manufactured: $25,000•Ending Work-in-Process: $2,200Administrative Salaries: $1,200⚫ Manufacturing Overhead Incurred: $750What was the beginning Work-in-Process inventory balance?

Step 1: Definition of Work-in-Process InventoryWork-in-Process (WIP) inventory refers to the goods…

Answered: Pioneer Manufacturing provided the…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 6PB: During the year, a company purchased raw materials of $77,321 and incurred direct labor costs of...

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What are the total costs to account for if a companys beginning inventory had $231,432 in materials, $186,450 in conversion costs, and added direct material costs ($4,231,392), direct labor ($2,313,392), and manufacturing overhead ($1,156,696)?
During the year, a company purchased raw materials of $77,321, and incurred direct labor costs of $125,900. Overhead is applied at the rate of 75% of the direct labor cost. These are the inventory balances: Compute the cost of materials used in production, the cost of goods manufactured, and the cost of goods sold.
Sterlings records show the work in process Inventory had a beginning balance of $4000 and an ending balance of $3,000. How much direct labor was incurred if the records also show :
During March, the following costs were charged to the manufacturing department: $14886 for materials; $14,656 for labor; and $13,820 for manufacturing overhead. The records show that 30,680 units were completed and transferred, while 2,400 remained in ending inventory. There were 33,080 equivalent units of material and 31,640 of conversion costs. Using the weighted-average method, what is the cost of inventory transferred and the balance in work in process inventory?
Selected information concerning the operations of a company for the year ended December 31 is as follows: Work in process inventories at the beginning and end of the year were zero. Beginning inventory of finished goods was 9,650 (for 1,000 units). Cost of goods sold was 174,600. What was the companys finished goods inventory cost at December 31? a. 98,050 b. 29,100 c. 29,050 d. 40,600
OReilly Manufacturing Co.s cost of goods sold for the month ended July 31 was 345,000. The ending work in process inventory was 90% of the beginning work in process inventory. Factory overhead was 50% of the direct labor cost. No indirect materials were used during the period. Other information pertaining to OReillys inventories and production for July is as follows: Required: 1. Prepare a statement of cost of goods manufactured for the month of July. (Hint: Set up a statement of cost of goods manufactured, putting the given information in the appropriate spaces and solving for the unknown information. Start by using cost of goods sold to solve for the cost of goods manufactured.) 2. Prepare a schedule to compute the prime cost incurred during July. 3. Prepare a schedule to compute the conversion cost charged to Work in Process during July.
There were 2,400 units in ending work in process inventory that were 100% complete with regard to material and 25% complete with regard to conversion costs. Ending work in process inventory had a cost of $9,000 and a per-unit material cost of $2. What was the conversion cost per unit using the weighted-average method?
Pioneer manufacturing provided the following solve this general accounting question
accounting?
Pluto Manufacturing reported the following: • • Direct labor: $7,500 Direct materials used: $3,000 Manufacturing overhead: $950 Cost of goods manufactured: $22,000 Ending work-in-process inventory: $2,200 What is the beginning work-in-process inventory?
I need answer of this question solution general accounting
Comet Company accumulated the following account information for the year: Beginning raw materials inventory Indirect materials cost Indirect labor cost Maintenance of factory equipment Direct labor cost Multiple Choice Using the above information, total factory overhead costs would be: O $17,000. O $14.200 $11,000. O $18,400. $6,400 2,400 $8.600. 5,400 3,200 7,400

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