What was the direct labor for the period? Seller Company has the following information:Beginning InventoryWork-in-Process1,300Finished Goods1,400Materials1,500Ending inventoryWIP1,700FG1,900Mats3,500Purchases of materials17,400Cost of goods Sold35,600Manufacturing overhead10,300What was the direct labor for the period?a. 13,600b. 12,100c. 15,100d. 18,200e. 10,800

To calculate the direct labor cost, we will use the Cost of Goods Manufactured (COGM) formula: Cost…

Answered: Seller Company has the following…

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

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Chapter5: Operating Activities: Purchases And Cash Payments

Section: Chapter Questions

Problem 2.7C

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LIFO costing Using last-in, first-out perpetual inventory costing and the information presented in E2-7, compute the cost of materials used and the cost of the July 31 inventory.
What are the total costs to account for if a companys beginning inventory had $231,432 in materials, $186,450 in conversion costs, and added direct material costs ($4,231,392), direct labor ($2,313,392), and manufacturing overhead ($1,156,696)?
a. Based on the data in Exercise 17-11, determine the following: 1. Cost of beginning work in process inventory completed this period 2. Cost of units transferred to finished goods during the period 3. Cost of ending work in process inventory 4. Cost per unit of the completed beginning work in process inventory b. Did the production costs change from the preceding period? Explain. c. Assuming that the direct materials cost per unit did not change from the preceding period, did the conversion costs per equivalent unit increase, decrease, or remain the same for the current period?
Problem 7: Cost of Production Report Helen Company uses FIFO process costing. Data are as follows: Beginning inventory 40% complete Units completed during period Ending inventory 70% complete 25,000 units 500,000 units 45,000 units
For each of the following independent cases A-D, compute the missing values: (Enter all amounts as positive v Total Current Beginning Work Ending Work in in Process Inventory Cost of Goods Case Manufacturing Costs Process Inventory Manufactured A. 2$ 5,200 $ 1,700 $ 700 B 1,700 1,420 2,610 C 580 1,590 7,310 D 8,850 1,050 6,775
Complete the information in the cost computations shown here:
Subject: acounting
Use the following data to calculate the cost of goods sold for the period: Beginning Raw Materials Inventory Ending Raw Materials Inventory Beginning Work in Process Inventory Ending Work in Process Inventory Beginning Finished Goods Inventory Ending Finished Goods Inventory Cost of Goods Manufactured for the period Multiple Choice O $258,900. O $242,900 $290,900. $250,900. $246,900. $ 30,900 70,900 40,900 46,900 72,900 68,900 246,900
Use the included information about Raw Materials Inventory (RM), Work in Process Inventory (WIP), Finished Goods Inventory (FG), and the Income Summary (IS). Determine the total conversion costs added. 1 2 3 4 5 6 7 1 00 RM B Bal T1 T2 T3 T4 E Bal 8 9 FG 10 B Bal 11 T1 12 T2 13 T3 14 T4 15 E Bal 2 Debits 4300 29 050 Debits 4800 45 592 3 Credits 28 000 Credits 33 500 4 5 WIP B Bal DM DL FOH CGM E Bal IS Rev CGS V Op Exp F Op Exp NIBT 6 Debits 8920 28 000 17 430 11 130 Debits 33 500 5130 7960 7 Credits 45 592 Credits 66 200
Analyze T-accounts given below: Raw material inventory Balance $15 Purchased $245 Used Balance $30 Work-in-progress inventory $30 Cost of goods $245 manufactured S310 Balance Direct material $540 Direct labor Manufacturing overhead $130 Balance $40 Amount of indirect material used is: a. $230 b. $110 c. $120 d. $340
From the following data, determine the total Cost of Goods Manufactured (COGM): Costs of units in beginning Work-in-Progress (WIP) Inventory Costs added to units in beginning WIP Inventory this period Costs of units started and completed Cost of units started and incomplete Cost of units in ending WIP inventory $ 78,000.00 $ 16,040.40 $ 157,050.50 $ 59,309.10 $ 59,309.10 A) $251,090.90 B) $270,840.40 C) $279,000.00 D) $310,400.00
Compute cost of goods sold using the following information. Finished goods inventory, beginning Work in process inventory, beginning Work in process inventory, ending Cost of goods manufactured Finished goods inventory, ending Cost of Goods Sold is Computed as: Cost of goods sold $ 374,000 86,500 77,100 932,800 334,000 Min

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