The following information is taken from the financial records of Gunner Manufacturing: Cost of materialsused, $45,000; Direct labor costs $48,000; Factory overhead $39,000; Work in process beginning$18,000: Work in process ending $28,000. What is the Cost of Goods Manufactured?Answera. $178,000b. $142,000c. $132,000d. $122,000

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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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Please help complete parts of question 1 1a. If 8,000 units are produced, what is the total amount of manufacturing overhead cost incurred to support this level of production at is this total amount expressed on a per unit basis? (Round your "per unit" answer to 2 decimal places.) Total manufacturing overhead cost: Manufacturing overhead per unit it: 1b. If 12,500 units are produced, what is the total amount of manufacturing overhead cost incurred to support this level of production? What is this total amount expressed on a per unit basis? (Round your "per unit" answer to 2 decimal places.) Total manufacturing overhead cost: Manufacturing overhead per unit: 1c. If the selling price is $22 per unit, what is the contribution margin per unit? (Do not round intermediate calculations. Round you answer to 2 decimal places.) 1d. If 11,000 units are produced, what are the total amounts of direct and indirect manufacturing costs incurred to support this leve production? (Do not round…
In the manufacture of 9,300 units of a product, direct materials cost incurred was $173,200, direct labor cost incurred was $114,700, and applied factory overhead was $48,800. What is the total conversion cost? A. $173,200 B.$163,500 C.$336,700 D. $48,800
journalize the transactions, please explain to me how you got the numbers
2
Given the following data for Mehring Company, what are (A) total manufacturing costs and (B) cost of goods manufactured? Direct materials Beginning work in process $230,000 used inventory Direct labor Manufacturing overhead Operating expenses OA) B) C) D) (A) 150,000 255,000 263,000 (B) Ending work in process inventory Beginning finished goods inventory Ending finished goods inventory $635,000 $620,000 $650,000 $665,000 $620,000 $650.000 $635,000 $650,000 $30,000 15,000 38,000 23,000
Use the following information for a manufacturer to compute cost of goods manufactured and cost of goods sold: Data Table Balances: Beginning Ending Direct Materials $20,000 $32,000 Work-in-Process Inventory 39,000 37,000 Finished Goods Inventory 14,000 23,000 Data Table Other information: Purchases of direct materials $79,000 Direct labor 80,000 Manufacturing overhead 41,000 First, compute cost of goods manufactured. Schedule of Cost of Goods Manufactured Direct Materials Used: Direct Materials Used Total Manufacturing Costs Incurred during the Year Total Manufacturing Costs to Account For Cost of Goods…
The following information was extracted from the accounting records of Roosevelt Manufacturing Company: Direct materials purchased 80,000 Direct materials used 76,000 Direct manufacturing labor costs 10,000 Indirect manufacturing labor costs 12,000 Sales salaries 14,000 Other plant expenses 22,000 Selling and administrative expenses 20,000 What was the cost of goods manufactured?
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In the manufacture of 9,700 units of a product, direct materials cost incurred was $171,100, direct labor cost incurred was $108,700, and applied factory overhead was $44,500. The total conversion cost is a. $324,300 b. $153,200 c. $44,500 d. $171,100
Please provide correct solution for correct answer
Here are selected data for Ramalingagowda Company: Cost of goods manufactured $320,000 Work in process inventory, beginning 109,000 Work in process inventory, ending 104,000 Direct materials used 73,000 Manufacturing overhead is allocated at 50% of direct labor cost. What was the approximate amount of manufacturing overhead costs? Select one: a. $161,333 b. $80,667 c. $242,000 d. $78,000 e. $151,250

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