The following informa (Click the icon to What was the cost o O1. $184,500 O2. $141,500 O 3. $174,500 O4. $135,000 Accounting information Direct materials purchased Direct materials used Direct manufacturing labor costs Indirect manufacturing labor costs Sales salaries Other plant expenses Selling and administrative expenses Print $ Done 84,000 86,000 8,000 14,000 14,500 27,000 25,000 X mpany:

The following informa (Click the icon to What was the cost o O1. $184,500 O2. $141,500 O 3. $174,500 O4. $135,000 Accounting information Direct materials purchased Direct materials used Direct manufacturing labor costs Indirect manufacturing labor costs Sales salaries Other plant expenses Selling and administrative expenses Print $ Done 84,000 86,000 8,000 14,000 14,500 27,000 25,000 X mpany:

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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Concept explainers

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.

Question

What was the cost of good manufactured?

F
The following informa
(Click the icon to
What was the cost o
O 1. $184,500
O2. $141,500
O 3. $174,500
O4. $135,000
Accounting information
Direct materials purchased
Direct materials used
Direct manufacturing labor costs
Indirect manufacturing labor costs
Sales salaries
Other plant expenses
Selling and administrative expenses
Print
CA
$
Done
-
- X
84,000
86,000
8,000
14,000
14,500
27,000
25,000
mpany:

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L13 D. 4 Data Section: $45,000 9. 642,000 91,500 93,000 Direct labor 8 Direct materials inventory, 1/1 9 Direct materials inventory, 12/31 10 Factory rent 11 Finished goods, 1/1 12 Finished goods, 12/31 13 Indirect labor 76,410 132,000 172,500 37,500 26,250 14 Indirect materials 15 Purchases of direct materials 16 Work in process, 1/1 17 Work in process, 12/31 645,180 30,300 28,665 Depreciation-equipment 18 19 Answer Section: 20 Jackson Manufacturing 21 22 Schedule of Cost of Goods Manufactured 23 For the Year Ended December 31 24 25 Work in process, 1/1 $30,300 26 Direct materials Direct materials inventory, 1/1 28 Add: 27 $91,500 FORMULA 1 Purchases of Materials 29 30 Cost of direct materials available $0 FORMULA 2 31 Less: Direct Material, 12/31 32 33 Cost of direct materials used FORMULA 3 34 Direct labor 642,000 35 Manufacturing overhead: 36 Factory rent 37 Depreciation - Equipment $76,410 FORMULA 4 MFG Enter Search the web and Windows op THOF