some answers I am having trouble with if any of my answers are wrong could you help me correct them INSTRUCTIONS: The following are the actual numbers for January: Materials Purchased $5,000 of Materials Consumed 40% of those purchased materials Direct Labor Direct Labor was $6,240 Overhead Overhead was $2,800 Bark & Bath Grooming Statement of Cost of Services For the Month Ended January 31, xxxx Beginning Work in Process Inventory 0 Direct Materials: Materials - Beginning 0 Add: Purchases for month of January $ 5,000 Materials Available for Use 5,000 Deduct: Ending Materials 3,000 Materials Used $ 2,000 Direct Labor 6,240 Overhead 2,800 Total Service Costs $ 11,040 Deduct: Ending Work in Process Inventory Cost of Services $ 11,040 * Cost of Goods Sold = Cost of Services There is no finished goods inventory to maintain.
some answers I am having trouble with if any of my answers are wrong could you help me correct them INSTRUCTIONS: The following are the actual numbers for January: Materials Purchased $5,000 of Materials Consumed 40% of those purchased materials Direct Labor Direct Labor was $6,240 Overhead Overhead was $2,800 Bark & Bath Grooming Statement of Cost of Services For the Month Ended January 31, xxxx Beginning Work in Process Inventory 0 Direct Materials: Materials - Beginning 0 Add: Purchases for month of January $ 5,000 Materials Available for Use 5,000 Deduct: Ending Materials 3,000 Materials Used $ 2,000 Direct Labor 6,240 Overhead 2,800 Total Service Costs $ 11,040 Deduct: Ending Work in Process Inventory Cost of Services $ 11,040 * Cost of Goods Sold = Cost of Services There is no finished goods inventory to maintain.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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some answers I am having trouble with if any of my answers are wrong could you help me correct them
| INSTRUCTIONS: | ||||
| The following are the actual numbers for January: | ||||
| Materials | ||||
| Purchased $5,000 of Materials | ||||
| Consumed 40% of those purchased materials | ||||
| Direct Labor | ||||
| Direct Labor was $6,240 | ||||
| Overhead was $2,800 | ||||
| Bark & Bath Grooming | ||||
| Statement of Cost of Services | ||||
| For the Month Ended January 31, xxxx | ||||
| Beginning Work in Process Inventory | 0 | |||
| Direct Materials: | ||||
| Materials - Beginning | 0 | |||
| Add: Purchases for month of January | $ 5,000 | |||
| Materials Available for Use | 5,000 | |||
| Deduct: Ending Materials | 3,000 | |||
| Materials Used | $ 2,000 | |||
| Direct Labor | 6,240 | |||
| Overhead | 2,800 | |||
| Total Service Costs | $ 11,040 | |||
| Deduct: Ending Work in Process Inventory | ||||
| Cost of Services | $ 11,040 | |||
| * Cost of Goods Sold = Cost of Services | ||||
| There is no finished goods inventory to maintain. |
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