Prblm Question:Slapshot Company makes ice hockey sticks. On June 1, Slapshothad $48,000 of materials in inventory. During the month of June, thecompany purchased $132,000 of materials. On June 30, materialsinventory equaled $45,000.Required:Calculate the direct materials used in production for the month ofJune.

Explanation of Opening Inventory: Opening inventory refers to the value of materials that a company…

Answered: Question: Slapshot Company makes ice…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 4EA: Marzons records show raw materials Inventory had a beginning balance of $200 and an ending balance...

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Masonrys records show the raw materials inventory had purchases of $1,000and an ending raw materials inventory balance of $200. If the cost of materials used during the month was $900, what was the beginning inventory?
Cost of Direct Materials, Cost of Goods Manufactured, Cost of Goods Sold Bisby Company manufactures fishing rods. At the beginning of July, the following information was supplied by its accountant: During July, the direct labor cost was 43,500, raw materials purchases were 64,000, and the total overhead cost was 108,750. The inventories at the end of July were: Required: 1. What is the cost of the direct materials used in production during July? 2. What is the cost of goods manufactured for July? 3. What is the cost of goods sold for July?
Refer to the information for Lauren Ashely Company above. Required: What was the cost of goods sold for September?
ABC Company uses a Materials Inventory account to record both direct and indirect materials. ABC charges direct materials to Work In Process, while indirect materials are charged to the Factory Overhead account. During the month of April, the company has the following cost information: Total materials (direct and indirect) purchased $ 90,000 Indirect materials issued to production 30,000 Total materials issued to production 110,000 Beginning materials inventory 50,000 The amount of direct materials issued is: Multiple Choice $110,000. $30,000. $90,000. $80,000. $50,000.
ABC Company uses a Materials Inventory account to record both direct and indirect materials. ABC charges direct materials to WIP, while indirect materials are charged to the Factory Overhead account. During the month of April, the company has the following cost information: Total materials (direct and indirect) purchased $ 90,000 Indirect materials issued to production 30,000 Total materials issued to production 110,000 Beginning materials inventory 50,000 The credit to the materials inventory account for materials used is: Multiple Choice $110,000. $30,000. $80,000. $90,000. $50,000.
The balance in Sedona Company’s raw materials inventory account was $10,000 at the beginning of September and $12,000 at the end of September. Raw materials purchased during the month totaled $95,000. Sedona used $15,000 in indirect materials for the month. Calculate the costs of Direct materials placed in production for the month of September. Group of answer choices $93,000 $97,000 $105,000 $78,000
From the data given below, prepare a statement of cost of goods manufactured for the Blanche Manufacturing Company for the month of June, 20--. The wording for the statement is given, you must enter the numbers. Account Balances Finished Goods Work in Process Materials June 1 June 30 $20,000 $23,000 $2,000 $7,000 $ 19,000 $ 21,000 June Transactions (a) Purchased materials at a cost of $56,000. (b) Issued indirect materials to the factory, cost $3,000. (c) Total salaries and wages earned for the month were $38,000, of which $6,000 was for indirect factory labor and $4,000 was for office salaries. (d) Factory overhead for the month, other than indirect materials and indirect labor, was $16,000.
Required: If the December 1 balance in the Direct Materials Inventory account was $20,000, the December 31 balance was $22,000, and $130,000 of direct materials were issued to production during December, what was the amount of direct materials purchased during the month? Purchased amount of direct material
Andrew Industries purchased $165, 000 of raw materials on account during the month of March. The beginning Raw Materials Inventory balance was $22, 000, and the materials used to complete jobs during the month were $141.000 of direct materials and $13,000 of indirect materials. What amount will Andrew debit to Work in Process Inventory for the month of March? Multiple Choice$165,000$154,000$13,000$141,000$33,000
rporation, has provided data concerning its operations for May. The beginning balance in the raw materials account was $25,000 and the ending balance was $46,000. Raw materials purchases during the month totaled $73,000. Manufacturing overhead cost incurred during the month was $116,000, of which $3,000 consisted of raw materials classified as indirect materials. The direct materials cost for May was: Multiple Choice $73,000 $52,000 $94,000 $49,000
Zoe Corporation has the following information for the month of March: Purchases $92,000 Materials inventory, March 1 6,000 Materials inventory, March 31 8,000 Direct labor 25,000 Factory overhead 37,000 Work in process, March 1 22,000 Work in process, March 31 23,500 Finished goods inventory, March 1 21,000 Finished goods inventory, March 31 30,000 Sales 257,000 Sales and administrative expenses 79,000 Required: Prepare a statement of cost of goods manufactured. Refer to the Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. “Less” or “Plus” will automatically appear if it is required. You will not need to enter colons (:) on the statement of cost of goods manufactured. Enter amounts as positive numbers. Zoe Corporation Statement of Cost of Goods Manufactured 1 2 3 4 5…
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