Selected information regarding a company's most recent quarter follows (all data in thousands). Direct labor $580 Beginning work in process inventory $320 Ending work in process inventory $340 Cost of goods manufactured $1560 Manufacturing overhead $870What was the cost of direct materials used for the quarter? Question 30 options: $870 $530 $130 $1540

Selected information regarding a company's most recent quarter follows (all data in thousands). Direct labor $580 Beginning work in process inventory $320 Ending work in process inventory $340 Cost of goods manufactured $1560 Manufacturing overhead $870What was the cost of direct materials used for the quarter? Question 30 options: $870 $530 $130 $1540

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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Manufacturing overhead has an underallocated balance of $12,400; raw materials inventory balance is $145,500; work in process inventory is $122,800; finished goods inventory is $140,300; and cost of goods sold is $170,500. After adjusting for the underallocated manufacturing overhead, what is cost of goods sold? Question 44 options: $12,400 $182,900 $170,500 $158,100
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Question 1 options: Answer the following two questions using the information below:Preston Manufacturing uses a normal cost system and had the following actual data available for 20X5:Ending direct materials inventory $10,000Beginning WIP inventory 64,000Beginning finished goods inventory 58,000Direct materials purchased on account $ 70,000Direct materials used or requisitioned 90,000Direct labor cost incurred 130,000Factory overhead incurred (actual) 190,000Overhead is applied at 150 percent (1.5) of direct-labor costCost of goods manufactured 405,000Cost of goods sold 460,000The beginning balance of direct materials inventory must be: (HINT: use T-Accounts to solve)(Include "$" and "," (commas) in your answers.The ending balance of work-in-process inventory (before closing the manufacturing overhead accounts) must be:…
1. What are the cost of work in process on december 31 2020
44) Same information as before - You have collected the following information about activity and costs - Activity - Machine Cost - Utilities Month Hours March 2,400 $18,500 2,600 $19,750 April May 2,900 $23,740 $25,500 $18,350 $17,290 June 3,100 July August September 1,950 October 2,100 1,900 $17,150 3,150 $25,200 November 3,000 $24,100 Using the High-Low method and your answers from the two previous questions, what is the estimated cost for December if the machines run for 2,550 hours ?