The following T-accounts record the operations of Roddick Co.: Direct Materials Beginning Balance 25,000 244,000 Ending Balance 19,000 Work in Process Beginning Balance 37,000 Direct Material Direct Labor 165,000 Overhead Ending Balance 28,000 Finished Goods Beginning Balance 43,000 COGM

The following T-accounts record the operations of Roddick Co.: Direct Materials Beginning Balance 25,000 244,000 Ending Balance 19,000 Work in Process Beginning Balance 37,000 Direct Material Direct Labor 165,000 Overhead Ending Balance 28,000 Finished Goods Beginning Balance 43,000 COGM

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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Concept explainers

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.

Question

(a) Calculate the number of direct materials purchased during the period.

$____________

(b) Calculate the cost of goods manufactured during the period.

$______________

Current Attempt in Progress
The following T-accounts record the operations of Roddick Co.:
Direct Materials
Beginning Balance
25,000
244,000
Ending Balance
19,000
Work in Process
Beginning Balance
37,000
Direct Material
Direct Labor
165,000
Overhead
Ending Balance
28,000
Finished Goods
Beginning Balance
43,000
COGM
643,000
COGS
Ending Balance
15,000

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