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The following data are for Anna Company. Account Amount Work-in-process inventory, beginning balance $85,000 Interest expense $20,200 Direct materials inventory, ending balance $67,000 Corporate headquarters administrative expenses $48,000 Actual manufacturing overhead costs $112,000 Work-in-process inventory, ending balance $94,000 Direct materials inventory, beginning balance $45,000 Finished goods inventory, beginning balance $110,000 Accounts receivable, beginning balance Accounts receivable, ending balance Direct labor costs $13,000 $14,700 $380,000 Direct materials purchased $130,000 Finished goods inventory, ending balance $90,000 The predetermined overhead rate is $2.00 per direct labor hour. The actual number of direct labor hours worked during the period was 75,000. Using these data, compute the cost of goods manufactured for the period.

The following data are for Anna Company. Account Amount Work-in-process inventory, beginning balance $85,000 Interest expense $20,200 Direct materials inventory, ending balance $67,000 Corporate headquarters administrative expenses $48,000 Actual manufacturing overhead costs $112,000 Work-in-process inventory, ending balance $94,000 Direct materials inventory, beginning balance $45,000 Finished goods inventory, beginning balance $110,000 Accounts receivable, beginning balance Accounts receivable, ending balance Direct labor costs $13,000 $14,700 $380,000 Direct materials purchased $130,000 Finished goods inventory, ending balance $90,000 The predetermined overhead rate is $2.00 per direct labor hour. The actual number of direct labor hours worked during the period was 75,000. Using these data, compute the cost of goods manufactured for the period.

FINANCIAL ACCOUNTING
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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The following data are for Anna Company. Account Amount Work-in-process inventory, beginning balance $85,000 Interest expense $20,200 Direct materials inventory, ending balance $67,000 Corporate headquarters administrative expenses $48,000 Actual manufacturing overhead costs $112,000 Work-in-process inventory, ending balance $94,000 Direct materials inventory, beginning balance $45,000 Finished goods inventory, beginning balance $110,000 Accounts receivable, beginning balance Accounts receivable, ending balance Direct labor costs $13,000 $14,700 $380,000 Direct materials purchased $130,000 Finished goods inventory, ending balance $90,000 The predetermined overhead rate is $2.00 per direct labor hour. The actual number of direct labor hours worked during the period was 75,000. Using these data, compute the cost of goods manufactured for the period.
Transcribed Image Text:The following data are for Anna Company. Account Amount Work-in-process inventory, beginning balance $85,000 Interest expense $20,200 Direct materials inventory, ending balance $67,000 Corporate headquarters administrative expenses $48,000 Actual manufacturing overhead costs $112,000 Work-in-process inventory, ending balance $94,000 Direct materials inventory, beginning balance $45,000 Finished goods inventory, beginning balance $110,000 Accounts receivable, beginning balance Accounts receivable, ending balance Direct labor costs $13,000 $14,700 $380,000 Direct materials purchased $130,000 Finished goods inventory, ending balance $90,000 The predetermined overhead rate is $2.00 per direct labor hour. The actual number of direct labor hours worked during the period was 75,000. Using these data, compute the cost of goods manufactured for the period.
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