Problem 3 (10 Sapir Manufacturing Company has the following data at June 30, 2012: Instructions Inventories: June 30 Raw materials inventory $25,000 June 1 $30,000 Work in process inventory 84,000 75,000 Finished goods inventory 23,000 20,000 Other information for June: Total manufacturing costs Manufacturing overhead Direct labour incurred Sales $754,000 72,000 342,000 990,000 25 29,000+754,000-20,0 749000 a. Prepare a schedule of cost of goods manufactured for the month (754,000+71000341,000) 1168,000 (990,000+15,000+ 84,000+23,000) 112,000 1,168,000-472,000 estor goods manufactured- 46000 b. Calculate the COGS (3 754709 744000 ,000 759,000+342,000 72,000+75,000-890 COGM-1,164,000 20,000+1,164,000-7

Problem 3 (10 Sapir Manufacturing Company has the following data at June 30, 2012: Instructions Inventories: June 30 Raw materials inventory $25,000 June 1 $30,000 Work in process inventory 84,000 75,000 Finished goods inventory 23,000 20,000 Other information for June: Total manufacturing costs Manufacturing overhead Direct labour incurred Sales $754,000 72,000 342,000 990,000 25 29,000+754,000-20,0 749000 a. Prepare a schedule of cost of goods manufactured for the month (754,000+71000341,000) 1168,000 (990,000+15,000+ 84,000+23,000) 112,000 1,168,000-472,000 estor goods manufactured- 46000 b. Calculate the COGS (3 754709 744000 ,000 759,000+342,000 72,000+75,000-890 COGM-1,164,000 20,000+1,164,000-7

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 2SEA: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Maupin...

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SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Sanchez Welding and Manufacturing Company. Prepare a schedule of cost of goods manufactured for the year ended December 31, 20--. Assume that all materials inventory items are direct materials. Work in process, January 1 20,500 Materials inventory, January 1 11,000 Materials purchases 12,000 Materials inventory, December 31 13,000 Direct labor 9,500 Overhead 5,500 Work in process, December 31 10,500
A company estimates its manufacturing overhead will be $750,000 for the next year. What is the predetermined overhead rate given the following independent allocation bases? Budgeted direct labor hours: 60,000 Budgeted direct labor expense: $1,500,000 Estimated machine hours: 100,000
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Problem 3 (10 marks) Sapir Manufacturing Company has the following data at June 30, 2012: Inventories: Raw materials inventory June 30 $25,000 June 1 $30,000 Work in process inventory Finished goods inventory 84,000 75,000 23,000 20,000 Other information for June: Total manufacturing costs Manufacturing overhead Direct labour incurred Sales $754,000 72,000 342,000 990,000 Instructions a. Prepare a schedule of cost of goods manufactured for the month (7 marks) (754,000+71,000/341,000) 1168,000 (990,000+25,000+ 84,000+23,000) 25 29,000+754,000-20,0 744000 1,127,000 1,168,000-472,000 754709 ,000 759,000+342,000 72,000+75,000-890 COGM-1164,000 Lost or goods manufactured- 46000 b. Calculate the COGS (3 marks) 20,000+1,164,000-7 SE
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Subject: acounting
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Work−in−Process Inventory has a debit balance of $82,000 and Manufacturing Overhead has a debit balance of $18,000. If an additional $52,000 of direct labor and $4,000 of indirect labor are incurred during production, what is the balance of Manufacturing Overhead? A. $22,000 B. $30,000 C. $134,000 D. $14,000
Answer Problem #8 : items 27 & 28
Question 1Part IAdvent Corporationhas provided the following data for its activities for the month of May.Beginning Raw Materials Inventory$75,000Ending Raw Materials Inventory$45,000Purchases of Raw Materials$550,000Direct Labour Incurred$120,000Manufacturing Overheads Incurred$250,000Beginning Work in Process$60,000Ending Work in Process$140,000Required: Prepare a schedule of the Cost of Goods Manufactured for the month of May.
Hh1. Account