No Wrong Answer The controller at Emporia Precision Parta aska for your help in sorting out some coat information. She is called to a meeting, but hands you the following information for June:Prime costs, JuneTotal manufacturing costs, June$188,000298,000Cost of goods manufactured, June300,000Cost of goods sold, June269,000Direct material inventory, June 30Work-in-process inventory, June 136,00045,000Finished goods inventory, June 30110,000Direct materials purchased, JuneDirect labor costs, June125,00095,000Compute for the month of June:2. Direct materials used, June.b. Direct material inventory, June 1..

Step 1: Manufacturing Expenditures are the expenditures which are incurred in manufacturing a…

Answered: The controller at Emporia Precision…

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 15E: LeMans Company produces specialty papers at its Fox Run plant. At the beginning of June, the...

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Emporia precision parts asks for your help in sorting out some cost information.
Compute for the month of June
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Pro-Weave manufactures stadium blankets by passing the products through a weaving department and then a sewing department. The following information is available regarding its June inventories: Beginning Inventory $ 170,000 395,000 690,000 1,336,000 The following additional information describes the company's manufacturing activities for June: Raw materials inventory Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory Raw materials purchases (on credit) Other actual overhead cost (paid in cash) Materials used Direct-Weaving Direct-Sewing Indirect Labor used Direct-Weaving Direct-Sewing Indirect Overhead rates as a percent of direct labor Weaving Sewing Sales (on credit) $ 615,000 174,000 $ 266,000 123,000 172,000 $ 1,250,000 430,000 1,500,000 90% 160% $ 4,900,000 Ending Inventory $ 213,000 370,000 745,000 1,346,000
Hello, I need some assistance with required question 3 at bottom of the first document. I'm having trouble with the Schedule of Cost of Goods Sold. I attached the Journal Entry I did if it helps.
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I attempted this problem and tried to do the company's statement of cost of goods manufactured for december but my numbers aren't adding up at all. I attached a picture of the original information which was given. I copy and pasted what the section of the question is asking for. Thanks! 2. Prepare On Company's statement of cost of goods manufactured for December. On Company Statement of Cost of Goods Manufactured For the Month Ended December 31 Work in process inventory, December 1 $ Direct materials: Materials inventory, December 1 $ Purchases Cost of direct materials used in production $ Less materials inventory, December 31 Cost of direct materials used in production $ Direct labor Factory overhead Total manufacturing costs incurred during December Total manufacturing costs $ Less work in process inventory, December 31 Cost of goods manufactured $
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[The following information applies to the questions displayed below.] Pro-Weave manufactures stadium blankets by passing the products through a weaving department and then a sewing department. The following information is available regarding its June inventories: Beginning Inventory $ 172,000 315,000 Work in process inventory-Sewing 620,000 Finished goods inventory 1,366,000 The following additional information describes the company's manufacturing activities for June: Raw materials purchases (on credit) Other actual overhead cost (paid in cash) Materials used Raw materials inventory Work in process inventory-Weaving Direct-Weaving Direct-Sewing Indirect Labor used Direct-Weaving Direct-Sewing Indirect Overhead rates as a percent of direct labor Weaving Sewing Sales (on credit) $ 555,000 184,000 $ 250,000 138,000 166,000 $ 1,375,000 395,000 1,575,000 80% 150% Ending Inventory $ 185,000 400,000 850,000 1,226,000 $ 4,250,000 Required: 1. Compute the (a) cost of products transferred from…
StorSmart Company makes plastic organizing bins. The company has the following inventory balances at the beginning and end of March: Beginning Inventory $ 28,900 22,300 79,900 Additional information for the month of March follows: Raw materials Work in process Finished goods Raw materials purchases Indirect materials used Direct labor Ending Inventory $ 26,600 45,600 68,400 Manufacturing overhead applied Selling, general, and administrative expenses Sales revenue Required 1 Required 21 Required: 1. Based on the above information, prepare a cost of goods manufactured report. 2. Based on the above information, prepare an income statement for the month of March. Complete this question by entering your answers in the tabs below. $ 40,100 1,200 63,000 35,200 24,900 237,100
StorSmart Company makes plastic organizing bins. The company has the following inventory balances at the beginning and end of March: Beginning Inventory Ending Inventory Raw materials $ 29,700 $ 26,600 Work in process 22,400 45,300 Finished goods 79,600 68,600 Additional information for the month of March follows: Raw materials purchases Indirect materials used Direct labor Manufacturing overhead applied Selling, general, and administrative expenses Sales revenue Required: $ 40,500 1,800 63,300 35,800 24,200 236,400 1. Based on the above information, prepare a cost of goods manufactured report. 2. Based on the above information, prepare an income statement for the month of March. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Based on the above information, prepare a cost of goods manufactured report. Stor Smart Company Cost of Goods Manufactured Report For the Month of March Direct Materials Used in Production 4 Prov 3 of 5 Novt
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