TB MC Qu. 14-78 (Static) The total standard direct labor hours (SQ) in November for the output produced: Europa CompanyEuropa Company manufactures only one product. Presented below is direct labor information for November.Standard direct labor hours per unit of productNumber of finished units producedStandard wage rate per direct labor hour (SP)Total direct labor payroll for the period.Actual wage rate per direct labor hour worked (AP)The total standard direct labor hours (SQ) in November for the output produced was:Multiple ChoiceOOO18,720.20,800.19,200.O 22,464.22,400.3.206,500$19.20$ 359,424$ 16.00

Variance is the result of the amount of expected value and actual results. It can be calculated by…

Answered: TB MC Qu. 14-78 (Static) The total…

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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Zoe Corporation has the following information for the month of March: Cost of direct materials used in production $15,852 Direct labor 23,816 Factory overhead 39,444 Work in process inventory, March 1 20,490 Work in process inventory, March 31 21,368 Finished goods inventory, March 1 23,826 Finished goods inventory, March 31 25,639 a. Determine the cost of goods manufactured.$fill in the blank 1 b. Determine the cost of goods sold.$fill in the blank 2
5 [The following information applies to the questions displayed below.] Marco Company shows the following costs for three jobs worked on in April. March Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 Additional Information a. Raw Materials Inventory has a March 31 balance of $85,200. Direct materials Direct labor Overhead applied Work in process, beginning April b. Raw materials purchases in April are $513,000, and total factory payroll cost in April is $376,000. c. Actual overhead costs incurred in April are indirect materials, $53,250; indirect labor, $26,250; factory rent, $35,250; factory utilities, $22,250; and factory equipment depreciation, $54,250. Direct materials Direct labor Overhead applied Costs added in April Total costs Status on April 30 April 30 cost included in: $ Job 306 d. Predetermined overhead rate is 50% of…
Cost of Goods Manufactured for a Manufacturing Company The following information is available for Ethtridge Manufacturing Company for the month ending July 31: Cost of direct materials used in production $105,600 Direct labor 126,700 47,500 64,400 58,100 Work in process inventory, July 1 Work in process inventory, July 31 Total factory overhead Determine Ethtridge's cost of goods manufactured for the month ended July 31. Ethtridge Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended July 31 Add manufacturing costs incurred during July: Total manufacturing costs incurred Total manufacturing costs Cost of goods manufactured
Cost of Goods Manufactured for a Manufacturing Company The following information is available for Fuller Manufacturing Company for the month ending October 31 Cost of direct materials used in production Direct labor Work in process inventory, October 1 Work in process inventory, October 31 Total factory overhead Determine Fuller Manufacturing's cost of goods manufactured for the month ended October 31. Fuller Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended October 31 Manufacturing costs incurred during October: $155,300 186,400 69,900 94,700 85,400 Total manufacturing costs incurred Total manufacturing costs Cost of goods manufactured
[The following information applies to the questions displayed below.] Marco Company shows the following costs for three jobs worked on in April. Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 Additional Information a. Raw Materials Inventory has a March 31 balance of $85,200. Job 306 eq 5A $ 34,200 25,200 15,200 148,000 90,200 ? Finished (sold) b. Raw materials purchases in April are $513,000, and total factory payroll cost in April is $376,000. c. Actual overhead costs incurred in April are indirect materials, $53,250; indirect labor, $26,250; factory rent, $35,250; factory utilities, $22,250; and factory equipment depreciation, $54,250. Req 5B mpute gross profit for April. profit Job 307 d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $648,000 cash in April. Req 5A $ 40,200 23,200 14, 200 Compute…
1) What is the ending inventory (February) under variable costing? 2) What is the ending inventory (February) under absorption costing?
Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Firetree Manufacturing Company for the month ended March 31 are as follows: Inventories March 31 Materials Work in process Finished goods March 1 $215,250 142,070 109,780 $185,120 122,180 124,030 Direct labor Materials purchased during March Factory overhead incurred during March: Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs Costs Type $387,450 413,280 41,330 24,970 8,610 6,890 6,030 11,190 a. Prepare a cost of goods manufactured statement for March. Firetree Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended March 31 Amount Amount Amount
Timbuk 3 Company has the following information for March: Cost of direct materials used in production $63,000 Direct labor 76,000 Factory overhead 21,000 Work in process inventory, March 1 56,000 Work in process inventory, March 31 49,680 Finished goods inventory, March 1 22,000 Finished goods inventory, March 31 16,000 a. For March, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured. Timbuk 3 Company Statement of Cost of Goods Manufactured $fill in the blank e11e4706704bfd4_2 $fill in the blank e11e4706704bfd4_4 fill in the blank e11e4706704bfd4_6 fill in the blank e11e4706704bfd4_8 Total manufacturing costs incurred during March fill in the blank e11e4706704bfd4_9 Total manufacturing costs $fill in the blank e11e4706704bfd4_10 fill in the blank e11e4706704bfd4_12 Cost of goods manufactured $fill in the blank e11e4706704bfd4_13…
Zoe Corporation has the following information for the month of March: Cost of direct materials used in production $17,792 Direct labor 28,982 Factory overhead 39,947 Work in process inventory, March. 1 17,999 Work in process inventory, March 31 18,186 Finished goods inventory, March 1 20,960 Finished goods inventory, March 31 24,711 a. Determine the cost of goods manufactured. b. Determine the cost of goods sold.
Marco Company shows the following costs for three jobs worked on in April. Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 Additional Information Problem 15-2A (Algo) Part 4 MARCO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs Job 306 Total cost of work in process $ 33,800 24,800 14,800 Cost of goods manufactured 147,000 89,800 ? Finished (sold) $ a. Raw Materials Inventory has a March 31 balance of $84,800. b. Raw materials purchases in April are $512,000, and total factory payroll cost in April is $375,000. c. Actual overhead costs incurred in April are indirect materials, $53,000; indirect labor, $26,000; factory rent, $35,000; factory utilities, $22,000; and factory equipment depreciation, $54,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for…
Zoe Corporation has the following information for the month of March: Cost of direct materials used in production $19,052 Direct labor 27,279 Factory overhead 33,802 Work in process inventory, March 1 17,338 Work in process inventory, March 31 20,887 Finished goods inventory, March 1 24,160 Finished goods inventory, March 31 23,463 a. Determine the cost of goods manufactured.$fill in the blank 1 b. Determine the cost of goods sold.$fill in the blank 2
[The following information applies to the questions displayed below.] Marco Company shows the following costs for three jobs worked on in April. Balances on March 31 Direct materials used (in March). Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 Job 306 $ 34,200 25,200 15,200 Additional Information a. Raw Materials Inventory has a March 31 balance of $85,200. 148,000 90,200 ? Finished (sold) Predetermined overhead rate Overhead applied 306 Job 307 b. Raw materials purchases in April are $513,000, and total factory payroll cost in April is $376,000. c. Actual overhead costs incurred in April are indirect materials, $53,250; indirect labor, $26,250; factory rent, $35,250; factory utilities, $22,250; and factory equipment depreciation, $54,250. $ 40,200 23, 200 14, 200 d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $648,000 cash in April. 307 233,000…

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