The Oroport Manufacturing Company produces sporting equipment. The company maintains a single raw materials inventory account for both direct and indirect materials. The following information came from the factory ledger accounts for December: Raw Materials, December 1 $ 45,500 Work in Process, December 1 125,000 Finished Goods, December 1 175,000 Raw materials purchases (during December) 623,000 Direct labor 435,000 Repairs and maintenance 37,200 Indirect materials 16,700 Utilities 63,200 Indirect labor 38,200 Supervisors' salaries 18,300 Raw Materials, December 31 43,600 Work in Process, December 31 135,000 Finished Goods, December 31 150,000 Compute the cost of direct materials used during the month of December.

The Oroport Manufacturing Company produces sporting equipment. The company maintains a single raw materials inventory account for both direct and indirect materials. The following information came from the factory ledger accounts for December: Raw Materials, December 1 $ 45,500 Work in Process, December 1 125,000 Finished Goods, December 1 175,000 Raw materials purchases (during December) 623,000 Direct labor 435,000 Repairs and maintenance 37,200 Indirect materials 16,700 Utilities 63,200 Indirect labor 38,200 Supervisors' salaries 18,300 Raw Materials, December 31 43,600 Work in Process, December 31 135,000 Finished Goods, December 31 150,000 Compute the cost of direct materials used during the month of December.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 2SEA: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Maupin...

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LeMans Company produces specialty papers at its Fox Run plant. At the beginning of June, the following information was supplied by its accountant: During June, direct labor cost was 143,000, direct materials purchases were 346,000, and the total overhead cost was 375,800. The inventories at the end of June were: Required: 1. Prepare a cost of goods manufactured statement for June. 2. Prepare a cost of goods sold schedule for June.
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OReilly Manufacturing Co.s cost of goods sold for the month ended July 31 was 345,000. The ending work in process inventory was 90% of the beginning work in process inventory. Factory overhead was 50% of the direct labor cost. No indirect materials were used during the period. Other information pertaining to OReillys inventories and production for July is as follows: Required: 1. Prepare a statement of cost of goods manufactured for the month of July. (Hint: Set up a statement of cost of goods manufactured, putting the given information in the appropriate spaces and solving for the unknown information. Start by using cost of goods sold to solve for the cost of goods manufactured.) 2. Prepare a schedule to compute the prime cost incurred during July. 3. Prepare a schedule to compute the conversion cost charged to Work in Process during July.
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