The following information is available for Tomlin Company. April 1 April 30Raw materials inventory $ 10,000 $ 14,000Work in process inventory 5,000 3,500 Materials purchased in April $ 98,000 Direct labor in April 80,000 Manufacturing overhead in April 160,000 a.) Prepare the cost of goods manufactured schedule for the month of April. O Chapter 14 HomeworkO NWP Assessment Player UI Appli xb My Questions | bartlebyA education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=e9dbfc7e-751f-4165-84b9-54236ca5f8d9#/question/1Paused+ Chapter 14 HomeworkQuestion 2 of 15-/1TOMLIN COPIPANYCost of Goods Manufactured ScheduleCost of Goods ManufacturedDirect LaborDirect MaterialsDirect Materials UsedRaw Materials, April 1Raw Materials, April 30Raw Materials PurchasesTotal Cost of Work in ProcessTotal Manufacturing CostsTotal Raw Materials Available for UseWork in process, April 1Work in process, April 30 O Chapter 14 HomeworkO NWP Assessment Player UI Appli xb My Questions | bartlebyA education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=e9dbfc7e-751f-4165-84b9-54236ca5f8d9#/question/1Paused+ Chapter 14 HomeworkQuestion 2 of 15-/1TOMLIN COMPANYCost of Goods Manufactured ScheduleFor the Month Ended April 30April 30For the Quarter Ended April 302$

The total value of inventory that was generated during the period and is available for sale is…

Answered: The following information is available…

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

Beckett Industries has the following beginning and ending inventories for the month of April. April 1 April 30 Direct materials $ 67,000 $ 62,000 Work-in-process 145,000 171, 000 Finished goods 85,000 78,000 Production data for the month of April is: Direct labor $ 200,000 Actual overhead 132, 000 Direct materials purchased 163,000 Transportation in 4,000 Purchase Returns and Allowances 2, 000 Beckett uses one overhead control account and charges overhead to production at 70% of direct labor cost. The company does not formally recognize over- or underapplied overhead until year - end. What is Beckett's total manufacturing cost for April?
The debits to Work in Process—Assembly Department for April, together with data concerning production, are as follows: April 1, work in process: Materials cost, 3,000 units $7,700 Conversion costs, 3,000 units, 80% completed 5,100 Materials added during April, 10,000 units 25,300 Conversion costs during April 32,200 Goods finished during April, 11,500 units — April 30, work in process, 1,500 units, 60% completed — All direct materials are placed in process at the beginning of the process, and the weighted average method is used to cost inventories. The conversion cost per equivalent unit (to the nearest cent) for April is a.$3.01 b.$3.24 c.$3.73 d.$2.87
Cost of Goods Sold In September, Lauren Ashley Company purchased materials costing $190,000 and incurred direct labor cost of $100,000. Overhead totaled $300,000 for the month. Information on inventories was as follows: September 1 September 30 Materials Work in process Finished goods Required: $120,000 80,000 70,000 $130,000 90,000 65,000 What was the cost of goods sold for September? X
The debits to Work in Process—Assembly Department for April, together with data concerning production, are as follows: April 1, work in process: Materials cost, 3,000 units $ 7,326 Conversion costs, 3,000 units, 40% completed 5,749 Materials added during April, 10,000 units 25,598 Conversion costs during April 34,639 Goods finished during April, 12,000 units 0 April 30 work in process, 1,000 units, 40% completed 0 All direct materials are added at the beginning of the process, and the first-in, first-out method is used to cost inventories. The conversion cost per equivalent unit for April is
Before the completed production for June is recorded, the work in process inventory account for James Company appears as follows: Work in Process Inventory Balance June 1 $72,000 Direct material 202,500 Direct labor 144,000 Manufacturing overhead applied 153,000 Assume that completed production for June includes Jobs 107, 108, and 109 with total costs of $126,000, $265,500, and $112,500, respectively. a. Determine the cost of unfinished jobs at June 30 and prepare a journal entry to record completed production. Work in process balance as of June 30 $Answer General Journal Description Debit Credit Answer Answer Answer Answer Answer Answer b. Using general journal entries, record the sale of Job 107 for $180,000 on account. General Journal Description Debit Credit Answer Answer Answer Answer Answer Answer To transfer cost to expense. Answer Answer Answer Answer Answer Answer…
Cost of Goods Sold In September, Lauren Ashley Company purchased materials costing $210,000 and incurred direct labor cost of $140,000. Overhead totaled $375,000 for the month. Information on inventories was as follows: September 1 September 30 Materials $120,000 $130,000 Work in process 80,000 90,000 Finished goods 70,000 65,000 Required: What was the cost of goods sold for September?
Tyare Corporation had the following inventory balances at the beginning and end of May: May 1 May 30 Raw materials $29,500 $38,000 Finished Goods $79,000 $74,000 Work in Process $17,500 $17,116 During May, $62,500 in raw materials (all direct materials) were drawn from inventory and used in production. The company's predetermined overhead rate was $12 per direct labor-hour, and it paid its direct labor workers $15 per hour. A total of 380 hours of direct labor time had been expended on the jobs in the beginning Work in Process inventory account. The ending Work in Process inventory account contained $7,450 of direct materials cost. The Corporation incurred $43,200 of actual manufacturing overhead cost during the month and applied $42,000 in manufacturing overhead cost. The amount of direct labor cost in the May 30 Work in Process inventory was: Multiple Choice $4,296 $5,370 $4,990 $9,666
The debits to Work in Process—Assembly Department for April, together with data concerning production, are as follows: April 1, work in process: Line Item Description Amount Materials cost, 3,000 units $ 7,200 Conversion costs, 3,000 units, 60% completed 6,000 Materials added during April, 10,000 units 25,000 Conversion costs during April 35,750 Goods finished during April, 12,000 units — April 30 work in process, 1,000 units, 40% completed — All direct materials are added at the beginning of the process, and the first-in, first-out method is used to cost inventories. The materials cost per equivalent unit for April is
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
Use the following information to calculate the cost of goods manufactured during July. Work in process inventory, 1 July Manufacturing overhead applied during the month Work in process inventory, 31 July Finished goods inventory, 1 July Finished goods inventory, 31 July Cost of goods sold during July 9,000 20,000 14,000 7,500 5,000 75,000
The inventory at June 1 and costs charged to Work in Process—Department 60 during June are as follows: Line Item Description Amount 3,800 units, 60% completed $ 60,400 Direct materials, 32,000 units 378,000 Direct labor 274,000 Factory overhead 168,000 Total cost to be accounted for $880,400 During June, 32,000 units were placed into production and 31,200 units were completed, including those in inventory on June 1. On June 30, the inventory of work in process consisted of 4,600 units that were 85% completed. Inventories are costed by the first-in, first-out method, and all materials are added at the beginning of the process. Determine the following: a. Equivalent units of production for conversion cost. (Round to the nearest whole unit.)fill in the blank 1 of 1 Units b. Conversion cost per equivalent unit. (Round to four decimal places.)fill in the blank 1 of 1$ per equivalent unit c. Total and unit cost of finished goods started in prior period and completed…
The manufacturing operations of Wildhorse, Inc. had the following balances for the month of January: Inventories Raw Materials Work in Process Finished Goods January 1 January 31 $15,600 27,300 18,200 $16,900 Cost of goods sold $ 29,900 20,800 Wildhorse transferred $377,000 of completed goods out of Work in Process Inventory during January. Compute the cost of goods sold.

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

		April 1	April 30
Raw materials inventory		$ 10,000	$ 14,000
Work in process inventory		5,000	3,500

Materials purchased in April	$ 98,000
Direct labor in April	80,000
Manufacturing overhead in April	160,000

The following information is available for Tomlin Company. April 1 April 30 Raw materials inventory $ 10,000 $ 14,000 Work in process inventory 5,000 3,500