The following data from the just completed year are taken from the accounting records of Ball Company: Sales $600,000 Direct labor cost $70,000 Raw material purchases $120,000 Selling expenses $140,000 Administrative expenses $60,000 Manufacturing overhead applied to work in progress $90,000 Actual manufacturing overhead $100,000 Inventory balances at the beginning and end of the period were as follows: Beginning Inventory Ending Inventory Raw Materials $10,000 $15,000 Work in Process $70,000 $80,000 Finished Goods $20,000 $60,000 Ball applies overhead to work in process and then adjusts the cost of goods sold to actual. What is Ball Company's Adjusted Cost of Goods Sold? Format your answer with just numbers (no dollar sign).

The following data from the just completed year are taken from the accounting records of Ball Company: Sales $600,000 Direct labor cost $70,000 Raw material purchases $120,000 Selling expenses $140,000 Administrative expenses $60,000 Manufacturing overhead applied to work in progress $90,000 Actual manufacturing overhead $100,000 Inventory balances at the beginning and end of the period were as follows: Beginning Inventory Ending Inventory Raw Materials $10,000 $15,000 Work in Process $70,000 $80,000 Finished Goods $20,000 $60,000 Ball applies overhead to work in process and then adjusts the cost of goods sold to actual. What is Ball Company's Adjusted Cost of Goods Sold? Format your answer with just numbers (no dollar sign).

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 27E: Selected information concerning the operations of a company for the year ended December 31 is as...

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Selected information concerning the operations of a company for the year ended December 31 is as follows: Work in process inventories at the beginning and end of the year were zero. Beginning inventory of finished goods was 9,650 (for 1,000 units). Cost of goods sold was 174,600. What was the companys finished goods inventory cost at December 31? a. 98,050 b. 29,100 c. 29,050 d. 40,600
Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Refer to Exercise 2.21. Last calendar year, Ellerson recognized revenue of 1,312,000 and had selling and administrative expenses of 204,600. Required: 1. What is the cost of goods sold for last year? 2. Prepare an income statement for Ellerson for last year.
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Masonrys records show the raw materials inventory had purchases of $1,000and an ending raw materials inventory balance of $200. If the cost of materials used during the month was $900, what was the beginning inventory?
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Marzons records show raw materials Inventory had a beginning balance of $200 and an ending balance of $300. If the cost of materials used during the month was $900, what were the purchases made during the month?
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