Questions 1. What is the variable factory overhead costs for the year? 2. What are the total Manufacturing Costs? 3. What is the total Cost of Goods manufactured? 4. What are the total Goods Available for Sale? 5. What is the total Cost of Goods Sold?
Questions 1. What is the variable factory overhead costs for the year? 2. What are the total Manufacturing Costs? 3. What is the total Cost of Goods manufactured? 4. What are the total Goods Available for Sale? 5. What is the total Cost of Goods Sold?
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 6Q: Is the cost of goods manufactured the same as the cost of goods sold?
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| Step | Amount | Category | Inventory |
| 1. Beginning Balance, January 1 | 28,000 | Beginning Balance | Raw Materials |
| 2. (+) Purchases (RM Purchases) | 220,000 | Addition | Raw Materials |
| 3. (-) Ending Balance | 20,000 | Ending Balance | Raw Materials |
| 4. = Transferred Out (RM used) | (228,000) | Transferred Out | Raw Materials |
| 5. (+) Direct Labor | (152,000) | Transferred Out | Direct Labor |
| 6. (+) Fixed Overhead | 300,000 | Addition | Overhead |
| 7. (+) Variable Overhead | - | Addition | Overhead |
| 8. = Total Factory Overhead | (390,000) | Transferred Out | Overhead |
| 9. Beginning Balance, January 1 | 40,000 | Beginning Balance | WIP |
| 10. (+) Additions (RM used) | 228,000 | Addition | WIP |
| 11. (+) Additions (DL used) | 152,000 | Addition | WIP |
| 12. (+) Additions (OH used) | 390,000 | Addition | WIP |
| 13. (-) Ending Balance, December 31 | 55,000 | Ending Balance | WIP |
| 14. = Transferred Out (COGM) | (755,000) | Transferred Out | WIP |
| 15. Beginning Balance, January 1 | 35,000 | Beginning Balance | FG |
| 16. (+) Additions (COGM) | 755,000 | Addition | FG |
| 17. (-) Ending Balance, December 31 | 15,000 | Ending Balance | FG |
| 18. = Transferred Out (COGS) | - | Transferred Out | FG |
1. What is the variable factory overhead costs for the year?
2. What are the total Manufacturing Costs?
3. What is the total Cost of Soods manufactured?
4. What are the total Goods Available for Sale?
5. What is the total Cost of Goods Sold?
Transcribed Image Text:Questions
1. What is the variable factory overhead costs for the year?
2. What are the total Manufacturing Costs?
3. What is the total Cost of Goods manufactured?
4. What are the total Goods Available for Sale?
5. What is the total Cost of Goods Sold?
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