The following information has been taken from the perpetual inventory system of Imperial Manufacturing Company for the month ended September 30: Purchases of direct materials $ 72,000 Direct materials used $ 70,000 Direct labor costs assigned to production $ 40,000 Manufacturing overhead costs incurred $ 60,000 Balances in inventory September 30 September 1 Materials $ 60,000 Work in Process Finished Goods $? $ 35,000 $ 88,000 $ 45,000 $ 76,000 Total manufacturing costs charged (debited) to Work in Process during September amount to: $180,000. $170,000. Some other amount. $172,000.

The following information has been taken from the perpetual inventory system of Imperial Manufacturing Company for the month ended September 30: Purchases of direct materials $ 72,000 Direct materials used $ 70,000 Direct labor costs assigned to production $ 40,000 Manufacturing overhead costs incurred $ 60,000 Balances in inventory September 30 September 1 Materials $ 60,000 Work in Process Finished Goods $? $ 35,000 $ 88,000 $ 45,000 $ 76,000 Total manufacturing costs charged (debited) to Work in Process during September amount to: $180,000. $170,000. Some other amount. $172,000.

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
Inventory Accounts for a Manufacturing Company Fujita Company produces a single product. Costs accumulated at the end of the period are as follows: Assume the beginning raw materials inventory was 62,800, the beginning finished goods inventory was 118,400, and there was no beginning work-in-process inventory. Required: Compute the closing account balances of each of the three inventory accounts: Raw Materials, Work in Process, and Finished Goods.
During the year, a company purchased raw materials of $77,321 and incurred direct labor costs of $125,900. Overhead Is applied at the rate of 75% of the direct labor cost. These are the inventory balances: Compute the cost of materials used in production, the cost of goods manufactured, and the cost of goods sold.
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The following information has been taken from the perpetual inventory system of Elite Manufacturing Company for the month ended August 31 Purchases of direct materials \$70,000 Direct materials used $53,500 Direct labor costs assigned to production$ 18,000 Manufacturing overhead costs incurred and applied) $ 35,000 Balances in inventory August 31 August 1 Materials$ ? $38,000 Work in Process $ 54,000 $ 52,000 Finished Goods $ 59,000 $ 46,000 Total manufacturing costs charged (debited) to Work in Process during August amount to:
The following information has been taken from the perpetual inventory system of Elite Manufacturing Company for the month ended August 31: Purchases of direct materials Direct materials used Direct labor costs assigned to production Manufacturing overhead costs incurred (and applied) Balances in inventory August 31 $? Materials Work in Process Finished Goods The cost of finished goods manufactured $ 66,000 $ 50,000 in August is: August 1 $ 20,000 $ 47,500 $ 43,300 $ 61,000 $ 40,000 $ 15,000 $ 35,000
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The following information has been taken from the perpetual inventory system of Elite Manufacturing Company for the month ended August 31: Purchases of direct materials. Direct materials used Direct labor costs assigned to production Manufacturing overhead costs incurred (and applied) Balances in inventory Materials Work in Process Finished Goods Multiple Choice The cost of finished goods manufactured in August is: $147,000. $92,000. $57,000. August 31 August 1 $ 25,000 $ 47,000 $ 43,000 Some other amount. $ 65,000 $ 60,000 $ 60,000 $ 50,000 $ 25,000 $ 35,000
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