The following data are avilable from the records of Sunflower ManufacturingThe following information are taken from the records of Nesabel Company for the000.quarter ending September 30:000,00rInventoriesJuly 1P90,0006,000 unitsP24.00/unitbad bas rmateya deoo 19 8.00/unit480 hoursSept 30P45,0005,000 unitsP20.00/unit29, 10.00/unitibelM400 hours dsinvsMaterialsnolln eiWork inprocessDirect materialsab Direct laborMachine timeFinished Goods1,000 unitsP32.00/unit10.20/unit85 hoursDirect materialsDirect laborMachine timebeordisvo yzolasaboog lo seoTotal manufacturing cost for the quarter was P1,500,000 of which, P497,000 wasdirect labor cost. Twenty thousand units were placed into process during thequarter. A total of 3,920 machine time were used during the quarter. SugarCompany uses a predetermined overhead rate of P100 per machine time.Materials purchased during the quarter were P601,000 and freight in for thesepurchases total P15,000.0. The amount of raw materials used for the quarter amounted to

Raw material available for use=Material, july 1 + Purchase=P 90,000+P 601,000=P 691,000

The following information are taken from the records of Nesabel Company for the quarter ending September 30: 00 0,00 COA Inventories July 1 bolln er idgien l P90,000 Sept 30 P45,000 5,000 units P20.00/unit 10.00/unit 400 hours Materials Work in process Direct materials 6,000 units P24.00/unit bas rasteya deoo 19 8.00/unit Direct labor noaibalM Idsiisvs a92u Machine time 480 hours Finished Goods In1,000 units P32.00/unit 10.20/unit 85 hours Direct materials Direct labor alshat Machine time aboog lo teo Total manufacturing cost for the quarter was P1,500,000 of which, P497,000 was direct labor cost. Twenty thousand units were placed into process during the quarter. A total of 3,920 machine time were used during the quarter. Sugar Company uses a predetermined overhead rate of P100 per machine time. Materials purchased during the quarter were P601,000 and freight in for these purchases total P15,000. 0. The amount of raw materials used for the quarter amounted to

The following information are taken from the records of Nesabel Company for the quarter ending September 30: 00 0,00 COA Inventories July 1 bolln er idgien l P90,000 Sept 30 P45,000 5,000 units P20.00/unit 10.00/unit 400 hours Materials Work in process Direct materials 6,000 units P24.00/unit bas rasteya deoo 19 8.00/unit Direct labor noaibalM Idsiisvs a92u Machine time 480 hours Finished Goods In1,000 units P32.00/unit 10.20/unit 85 hours Direct materials Direct labor alshat Machine time aboog lo teo Total manufacturing cost for the quarter was P1,500,000 of which, P497,000 was direct labor cost. Twenty thousand units were placed into process during the quarter. A total of 3,920 machine time were used during the quarter. Sugar Company uses a predetermined overhead rate of P100 per machine time. Materials purchased during the quarter were P601,000 and freight in for these purchases total P15,000. 0. The amount of raw materials used for the quarter amounted to

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

The following information is available for Blossom Manufacturing Company April 1 April 30 Raw materials inventory $10,200 $14.800 Work in process inventory 5,800 4,000 Materials purchased in April 590.300 Direct labour in April 63,000 Manufacturing overhead in April 184,000 Prepare the east of goods manufactured schedule for the month of April BLOSSOM MANUFACTURING COMPANY Cost of Goods Manufactured Schedule For the Month Ended April 30
5 a. Determine the number of units in progress inventory at December 31. _______ units b. Determine the equivalent units of production for direct materials and conversion costs in December. If an amount is zero, enter in "0".
None
2 Baruch Company has two processing departments: Assembly and Finishing. During the month of March, the company recorded the following: Finishing Department (Second department) costs: Work-in-process inventory, March 1, 400 units Costs transferred in during the month from the Assembly Department, Materials cost added during the month Conversion costs incurred during the month Total Cost S A. B. C. D. E. None of the above S $ S $ 232 EUS 250 EUS 265 EUS 1,500 EUS 5.000 * *Consists of cost transferred in, $1,500; materials cost, $2,300; and conversion cost, $1,200. Finishing Department units are assigned to: Units completed and transferred out to finished goods: Work-in-process inventory, March 31: 12.000 17.000 19,500 53,500 The beginning work-in-process inventory contained 400 physical units; The conversion costs for the units completed and transferred out was $19,200. Find the number of equivalent units (EUs) in the ending inventory for conversion cost. 3.200 units units ???
Selected T - accounts of Moore Company are given below for the just completed year: Raw Materials Debit Credit Balance 1/1 33,000 Credits ? question mark Debits 156,000 Balance 12/31 43,000 Manufacturing Overhead Debit Credit Debits 186,200 Credits ? question mark Work in Process Debit Credit Balance 1/1 38,000 Credits 524,000 Direct materials 108,000 Direct labor 204,000 Overhead 214, 200 Balance 12/31 ? question mark Factory Wages Payable Debit Credit Debits 221,000 Balance 1/1 18,000 Credits 216,000 Balance 12/31 13,000 Finished Goods Debit Credit Balance 1/1 58,000 Credits ? question mark Debits? question mark Balance 12/31 87,000 Cost of Goods Sold Debit Credit Debits? question mark Required: What was the cost of raw materials used in production? How much of the materials in (1) above consisted of indirect materials? How much of the factory labor cost is indirect labor? What was the cost of goods manufactured? What was the unadjusted cost of goods sold? Do not include any…
Give true calculation
The following information is available from Gabe's LOL Co. for the month ending September 30, 20XX. Gabe's LOL Co. Information Direct materials used in production 215,500 Direct Labor 199,200 84,400 97,500 114,700 Work-in-Process, Sept. 1 Work-in-Process, Sept. 30 Total Factory Overhead Determine Gabe's LOL Co. cost of goods manufactured for the month ending September 30, 20XX. Gabe's LOL Co. Schedule of Cost of Goods Manufactured For Month Ending Sept. 30, 20xx
estions | bartleby G How many units must be in... My Home CengageNOWv2| Online te.. eВook During March, the following costs were charged to the manufacturing department: $13,520 for materials; $14,700 for labor; and $14,100 for manufacturing overhead. The records show that 31,400 units were completed and transferred, while 2,400 remained in ending inventory. There were 33,800 equivalent units of materíal and 32,360 of conversion costs. Using the weighted-average method, what is the cost of inventory transferred and the balance in work in process inventory? When required, round cost per unit to two decimal places and the final answers to the nearest dollar. Cost of inventory transferred $ %24 Balance in work in process
If the balance of Work in Process on August 31 is $220,000, what was the amount debited to Work in Process for direct materials in August? a.$390,000 b.$525,000 c.$580,000 d.$170,000
Borchardt Corporation has provided the following data concerning last month’s operations. Direct materials $29,000 Direct labor $58,000 Manufacturing overhead applied to Work in Process $82,000 Beginning Ending Work in process inventory $66,000 $57,000 How much is the cost of goods manufactured for the month on the Schedule of Cost of Goods Manufactured? Multiple Choice A. $235,000 B. $178,000 C.$173,000 D. $169,000