The Weaver Manufacturing Company incurred direct labor costs of $233,000, and manufacturing overhead amounted to $186,000 during the year ended 30 June 2012. Materials purchases for the year were $210,000. Opening and closing inventories were as follows: Item 1 July 2011 30 June 2012 Direct materials $53,000 $47,000 Work-in-process 35,000 41,000 Finished goods 92,000 84,000 Required: 1. Calculate the Cost of Goods Manufactured by Weaver Manufacturing Company. 2. The Cost of Goods Sold by Weaver Manufacturing Company.
The Weaver Manufacturing Company incurred direct labor costs of $233,000, and manufacturing overhead amounted to $186,000 during the year ended 30 June 2012. Materials purchases for the year were $210,000. Opening and closing inventories were as follows: Item 1 July 2011 30 June 2012 Direct materials $53,000 $47,000 Work-in-process 35,000 41,000 Finished goods 92,000 84,000 Required: 1. Calculate the Cost of Goods Manufactured by Weaver Manufacturing Company. 2. The Cost of Goods Sold by Weaver Manufacturing Company.
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
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Problem 22E: Ellerson Company provided the following information for the last calendar year: During the year,...
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![The Weaver Manufacturing Company incurred direct labor costs of $233,000, and manufacturing
overhead amounted to $186,000 during the year ended 30 June 2012. Materials purchases for the year
were $210,000. Opening and closing inventories were as follows:
Item
1 July 2011 30 June 2012
Direct materials $53,000
$47,000
Work-in-process 35,000
41,000
Finished goods 92,000
84,000
Required:
1. Calculate the Cost of Goods Manufactured by Weaver Manufacturing Company.
2. The Cost of Goods Sold by Weaver Manufacturing Company.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F00ea0836-097c-45b0-8c9a-a897a37ba0a4%2F742e9563-2995-47ed-aa67-188e9db52c2c%2Fw1bpd4s_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The Weaver Manufacturing Company incurred direct labor costs of $233,000, and manufacturing
overhead amounted to $186,000 during the year ended 30 June 2012. Materials purchases for the year
were $210,000. Opening and closing inventories were as follows:
Item
1 July 2011 30 June 2012
Direct materials $53,000
$47,000
Work-in-process 35,000
41,000
Finished goods 92,000
84,000
Required:
1. Calculate the Cost of Goods Manufactured by Weaver Manufacturing Company.
2. The Cost of Goods Sold by Weaver Manufacturing Company.
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