The following information is taken from therecords of DW Company for last year:P 8,0003,00011,0005,00019,000Direct Materials UsedDirect LaborManufacturing OverheadWork-in-process Inventory, endCost of Goods ManufacturedThe amountof Work-in-process Inventory,beginning is:

Inventory refers to the stock that the company held for resale purpose or the goods that is not sold…

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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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The following information is available for Windsor Company. Raw materials inventory Work in process inventory Finished goods inventory Materials purchased Direct labor Manufacturing overhead Sales revenue (a) Jan, 1 led Dec 31 V V V > > January 1, 2022 $25,200 << < 17,100 33,150 Compute cost of goods manufactured. (Assume that all raw materials used were direct materials.) 2022 $183,000 268,400 219,600 $ 1,110,200 WINDSOR COMPANY Cost of Goods Manufactured Schedule December 31, 2022 183000 171600 $36,600 $ 21.150 25,620 268400 219600 659.600 $ 0000 $ 21 670 21 655
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The following information is available for ABC Company for the year ended December 31: Beginning raw materials inventory Raw materials purchases Ending raw materials inventory Direct labor expense What is the amount of direct materials used in production for the year? Multiple Choice $5,200. $7,500. $4,700. $8,900. $ 3,700 5,200 4,200 2,200
Subject: acounting
The following data were taken from the records of Larkspur Company for the fiscal year ended June 30, 2025. Raw Materials Inventory 7/1/24 Raw Materials Inventory 6/30/25 Finished Goods Inventory 7/1/24 Finished Goods Inventory 6/30/25 Work in Process Inventory 7/1/24 Work in Process Inventory 6/30/25 Direct Labor Indirect Labor $57,500 41,500 96,300 22,100 21,300 28.200 142,650 26,760 Accounts Receivable Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Factory Manager's Salary Factory Property Taxes Factory Repairs Raw Materials Purchases Cash $29,900 4,900 17,000 31.100 8,550 561,300. 4,300 65,100 9.610 1,500 99,400 42.100
Information related to Scullio Manufacturing appears below. What is the ending balance in the work-in-process (WIP) inventory account? Cost of good manufactured 44,500 Beginning WIP inventory 32,000 Total current manufacturing costs 35,000 Manufacturing overhead applied 11,000 Direct labor cost 16,500
A
A company reports the following information: Direct Labor Direct Materials Used Raw Materials Purchased Cost of Goods Manufactured Ending Work-in-Process Inventory Corporate Headquarters' Property taxes Manufacturing Overhead Incurred Calculate the beginning balance of Work-in-Process Inventory O $4,500 O $5,000 O $21.000 59.400 $6,000 3.000 9,000 13,000 1.400 900 400
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Wasson Company reported the following year-end information: Beginning work in process inventory Beginning raw materials. inventory Ending work in process inventory Ending raw materials inventory Raw materials purchased Direct labor Manufacturing overhead $ 35,000 18,000 38,000 15,000 560,000 210,000 120,000 What is Wasson's total cost of work in process for the year?
The WIP account given below relates to the activities of Jones Ltd for the month of April: WIP Inventory A/C Debit side : April1 Bal $15,000, Direct Material Used 123,000, Direct Labour Incurred ??, Manufacturing Overhead Applied ??, Credit Side: Finished Goods ??, Additional data: Manufacturing Labour Costs incurred..$163,500 (75% represents direct labour), Manufacturing Overhead Rate....120% of direct labour cost, Actual Manufacturing Overhead Costs for April...$165,150 Two jobs were completed with total costs of $183,000 and $105,000 respectively. They were sold on account at a mark-up of 50% on cost. After these transactions have been recorded, the balance in Cost of Goods sold account (after adjusting ffor the MOH variace )is: a. 288,000 b. 306,000 c. 270,000 d. 432,000
Prepare income statements for both Garcon Company and Pepper Company. Prepare the current assets section of the balance sheet for each company. Garcon Company Pepper Company Finished goods inventory, beginning $ 14,300 $ 17,650 Work in process inventory, beginning 17, 100 23,700 Raw materials inventory, beginning 11,700 14,700 Rental cost on factory equipment 31, 250 23,650 Direct labor 24,200 44,600 Finished goods inventory, ending 19,400 14,800 Work in process inventory, ending 24, 400 20, 600 Raw materials inventory, ending 7, 600 9,000 Factory utilities 13,650 14,250 General and administrative expenses 25,000 56, 500 Indirect labor 12, 150 15,480 Repairs-Factory equipment 5, 900 3, 550 Raw materials purchases 39, 500 63, 500 Selling expenses 54,000 58, 600 Sales 287, 520 388,810 Cash 21,000 21, 200 Accounts receivable, net 14, 600 22,950 GARCON COMPANY Income Statement For Year Ended December 31 Sales $287, 520 Cost of goods sold: Finished goods inventory, beginning $14, 300 Cost…

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The following information is taken from the records of DW Company for last year: P 8,000 3,000 11,000 5,000 19,000 Direct Materials Used Direct Labor Manufacturing Overhead Work-in-process Inventory, end Cost of Goods Manufactured The amount of Work-in-process Inventory, beginning is: