Selected accounts of Kosar Manufacturing Company at 12/31/20 year end appear below: Raw Materials Inventory Work in Process a) 40,000 d) 25,000 d) 25,000 g) 140,000 e) 60,000 f) 90,000 Factory Labor Finished Goods Inventory b) 85,000 e) 85,000 g) 140,000 h) 120,000 Manufacturing Overhead Cost of Goods Sold c) 75,000 f) 90,000 h) 120,000 e) 25,000 Use the information above to answer the following: a. The amount of materials purchased is $ b. The amount of overhead applied to production is $ c. The amount of direct labor charged to production is $ d. The total of indirect labor is $ e. The $25,000 debit to Work in Process represents _______ ________ f. Is manufacturing overhead over or under applied g. What amount is the overhead over or underapplied $ h. The total amount to be reported for Cost of Goods Manufactured is $ i. The ending balance of Work in Process is $ j. What will be the 1/1/21 beginning balance in Raw Materials $ k. What will be the balance in Cost of Goods Sold after Overhead is closed $
Selected accounts of Kosar Manufacturing Company at 12/31/20 year end appear below: Raw Materials Inventory Work in Process a) 40,000 d) 25,000 d) 25,000 g) 140,000 e) 60,000 f) 90,000 Factory Labor Finished Goods Inventory b) 85,000 e) 85,000 g) 140,000 h) 120,000 Manufacturing Overhead Cost of Goods Sold c) 75,000 f) 90,000 h) 120,000 e) 25,000 Use the information above to answer the following: a. The amount of materials purchased is $ b. The amount of overhead applied to production is $ c. The amount of direct labor charged to production is $ d. The total of indirect labor is $ e. The $25,000 debit to Work in Process represents _______ ________ f. Is manufacturing overhead over or under applied g. What amount is the overhead over or underapplied $ h. The total amount to be reported for Cost of Goods Manufactured is $ i. The ending balance of Work in Process is $ j. What will be the 1/1/21 beginning balance in Raw Materials $ k. What will be the balance in Cost of Goods Sold after Overhead is closed $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Selected accounts of Kosar Manufacturing Company at 12/31/20 year end appear below:
Raw Materials Inventory Work in Process
a) 40,000 d) 25,000 d) 25,000 g) 140,000
e) 60,000
f) 90,000
Factory Labor Finished Goods Inventory
b) 85,000 e) 85,000 g) 140,000 h) 120,000
c) 75,000 f) 90,000 h) 120,000
e) 25,000
Use the information above to answer the following:
a. The amount of materials purchased is $
b. The amount of overhead applied to production is $
c. The amount of direct labor charged to production is $
d. The total of indirect labor is $
e. The $25,000 debit to Work in Process represents _______ ________
f. Is manufacturing overhead over or under applied
g. What amount is the overhead over or underapplied $
h. The total amount to be reported for Cost of Goods Manufactured is $
i. The ending balance of Work in Process is $
j. What will be the 1/1/21 beginning balance in Raw Materials $
k. What will be the balance in Cost of Goods Sold after Overhead is closed $
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education