The following T-accounts record the operations of Sunland Co.: Assume all raw materials are direct materials. Raw Materials Beginning Balance 10,546 ????? 68,542 Ending Balance 13,892 Work in Process Beginning Balance 18,168 Direct Material ????? Direct Labor 51,604 Overhead 72,026 ????? Ending Balance 23,568 Finished Goods Beginning Balance 29,548 ????? ????? Ending Balance 18,654 (a) Calculate the amount of direct materials purchased during the period. Raw materials purchased $ (b) Calculate the direct materials used in production during the period. Direct materials used in production $ (c) Calculate the total manufacturing cost for the period. Total manufacturing cost $ (d) Calculate the cost of goods manufactured for the period. Cost of goods manufactured $ (e) Calculate the cost of goods sold for the period. Cost of goods sold $
The following T-accounts record the operations of Sunland Co.: Assume all raw materials are direct materials. Raw Materials Beginning Balance 10,546 ????? 68,542 Ending Balance 13,892 Work in Process Beginning Balance 18,168 Direct Material ????? Direct Labor 51,604 Overhead 72,026 ????? Ending Balance 23,568 Finished Goods Beginning Balance 29,548 ????? ????? Ending Balance 18,654 (a) Calculate the amount of direct materials purchased during the period. Raw materials purchased $ (b) Calculate the direct materials used in production during the period. Direct materials used in production $ (c) Calculate the total manufacturing cost for the period. Total manufacturing cost $ (d) Calculate the cost of goods manufactured for the period. Cost of goods manufactured $ (e) Calculate the cost of goods sold for the period. Cost of goods sold $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
The following T-accounts record the operations of Sunland Co.:
Assume all raw materials are direct materials.
| Raw Materials | ||||||
| Beginning Balance | 10,546 | |||||
| ????? | ||||||
| 68,542 | ||||||
| Ending Balance | 13,892 |
| Work in Process | ||||||
| Beginning Balance | 18,168 | |||||
| Direct Material | ????? | |||||
| Direct Labor | 51,604 | |||||
| 72,026 | ||||||
| ????? | ||||||
| Ending Balance | 23,568 |
| Finished Goods | ||||||
| Beginning Balance | 29,548 | |||||
| ????? | ||||||
| ????? | ||||||
| Ending Balance | 18,654 |
(a) Calculate the amount of direct materials purchased during the period.
| Raw materials purchased | $
|
(b) Calculate the direct materials used in production during the period.
| Direct materials used in production | $
|
(c) Calculate the total
| Total manufacturing cost | $
|
(d) Calculate the cost of goods manufactured for the period.
| Cost of goods manufactured | $
|
(e) Calculate the cost of goods sold for the period.
| Cost of goods sold | $
|
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