Raw materials inventory Work in process inventory Finished goods inventory... Purchases of direct materials Direct labor.. Indirect labor. Beginning of Year End of Year 23,000 $25,000 35,000 $ 31,000 22,000 74,000 86,000 42,000 $ $ $ 20,000 $ $ $ $ Insurance on plant Depreciation-plant building and equipment Repairs and maintenance-plant Marketing expenses General and administrative expenses End of Year $ 11,500 $ 13,400 $ 3,700 $ 77,000 $ 28,500

Raw materials inventory Work in process inventory Finished goods inventory... Purchases of direct materials Direct labor.. Indirect labor. Beginning of Year End of Year 23,000 $25,000 35,000 $ 31,000 22,000 74,000 86,000 42,000 $ $ $ 20,000 $ $ $ $ Insurance on plant Depreciation-plant building and equipment Repairs and maintenance-plant Marketing expenses General and administrative expenses End of Year $ 11,500 $ 13,400 $ 3,700 $ 77,000 $ 28,500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Raw materials inventory, beginning$160Raw materials inventory, ending$280Work in process inventory, beginning $280Work in process inventory, ending $200Finished goods inventory, beginning$480 Finished goods inventory, ending$640Administrative expenses$600Direct labor $800Manufacturing overhead$ 920Purchases of raw materials$480Sales$3,960Selling expenses$560
31 Current information for the Healey Company follows: Beginning raw materials inventory Raw material purchases Ending raw materials inventory Beginning work in process inventory Ending work in process inventory Direct labor Total factory overhead $ 17,200 62,000 18,600 24,400 30,000 44,000 32,000 All raw materials used were direct materials. Healey Company's cost of goods manufactured for the year is:
Required information Use the following information for the Exercises below. (Algo) Skip to question [The following information applies to the questions displayed below.] Note: Assume all raw materials were used as direct materials. Beginning of Year End of Year Inventories Raw materials inventory $ 6,300 $ 8,100 Work in process inventory 12, 600 9,300 Finished goods inventory 9, 100 5,800 Activity during current year Raw materials purchased $ 124,100 Direct labor 94,300 Factory overhead 39,900 QS 14-17 (Algo) Schedule of cost of goods manufactured LO P2 Factory overhead of $39,900 consists of Indirect labor of $20,300, Depreciation expense-Factory of $15,300, and Factory utilities of $4,300. Compute total manufacturing costs. Prepare a schedule of cost of goods manufactured.
* Question Completion Status: QUESTION 25 The following data (in thousands of dollars) have been taken from the accounting records of Rudy Corporation for the just completed year. Sales $800 Raw materials inventory - beginning $ 60 $70 Raw materials inventory, ending Purchases of raw materials $180 Direct labor $100 Manufacturing overhead $190 Administrative expenses $110 $150 $70 $80 $120 $160 Selling expenses Work in process inventory beginning Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending The net income for the year (in thousands of dollars) was O $190 $390 O $70 O $130 O $310
Beginning work in process inventory $1,080,000 Beginning raw materials inventory 300,000 Ending work in process inventory 900,000 Ending raw materials inventory Raw materials purchased 480,000 960,000 Direct labor 900,000 Manufacturing overhead Laflin Company's cost of goods manufactured for the year 720,000 is
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ces Beginning work in process inventory Units started this period Beginning work in process Direct materials Completed and transferred out Ending work in process inventory Production cost information for the forming department follows. Conversion Costs added this period Direct materials Conversion Total costs to account for Required A Required B Required C Units Costs of beginning work in process Costs added this period Total costs Equivalent units of production (from part a) Cost per equivalent unit of production 320,000 312,000 35,000 $ $ $ 40,000 16,100 Complete this question by entering your answers in the tabs below. 1,660,000 929,300 a. Calculate the equivalent units of production for both direct materials and conversion for the Forming department. b. Calculate the costs per equivalent unit of production for both direct materials and conversion for the Forming departm c. Using the weighted average method, assign costs to the forming department's output-specifically, its units…