Don't Use AI Triton Manufacturing had a beginning finished goodsinventory of $23,500 and an ending finished goodsinventory of $21,000 during FY 2023. Beginning work-in-process was $19,500 and ending work-in-process was$18,000. Factory overhead was $28,600. The totalmanufacturing costs amounted to $298,000. Use thisinformation to determine the FY 2023 Cost of GoodsSold. (Round enter as whole dollars only.)

Step 1: DefinitionsConcept of Cost of Goods Manufactured (COGM):Cost of Goods Manufactured (COGM)…

Answered: Triton Manufacturing had a beginning…

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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During 2022, Vaughn Manufacturing estimated that Job No. 26 would incur $300000 of overhead, $500000 of materials, and $200000 in labor. Vaughn applied overhead based on direct labor cost. Actual production required an overhead cost of $340000, $450000 in materials used, and $320000 in labor. All of the goods were completed. What amount was transferred to Finished Goods Inventory? O $1250000 O $1000000 O $1110000 O $970000
During 2022, Bramble Manufacturing expected Job No. 51 to incur $300000 of overhead, $580000 of direct materials, and $200000 in direct labor. Bramble applied overhead based on direct labor cost. Actual production required overhead cost of $360000, $660000 in direct materials used, and $290000 in direct labor. All of the goods were completed. What amount was transferred to Finished Goods Inventory? $1250000 $1080000 $1385000 $1310000 Toythook and Media
In Phoenix Works, for the year 2024, what is the cost of goods manufactured if the beginning work in process was $55,000, ending work in process was $50,000, raw materials used were $90,000, direct labor was $65,000, manufacturing overhead $35,000, and administrative salaries were $15,000? was
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The following cost incurred by Lucky corporation for October 2019 were as follows: Direct Materials used, P20,000 Indirect materials used, P1,000 Direct labor, P9,000 Indirect labor, P5,000 Other factory cost, P5,000 Selling expenses,P10,000 Administrative expenses, P12,000 Question: How much is the total product cost? a. P62,000 b. P50,000 c. P29,000 d. P40,000 Plz answer fast without plagiarism and don't copy answer plz
In Orion Industrial, for the year 2021, what is the cost of goods manufactured if the beginning work in process was $35,000, ending work in process was $40,000, raw materials used were $80,000, direct labor was $60,000, manufacturing overhead was $30,000, and marketing expenses $12,000?
During 2022 Concord Manufacturing expected Job 25 to cost $74100 of overhead, $129100 of material, and $24500 in labour. Caruba applied overhead based on direct labour cost. Actual production required an overhead cost of $79900, $140400 in materials used, and $19600 in labour. All of the goods were completed. What amount was transferred to Finished Goods Inventory? $207980 $227700 $239900 $219280
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Cepeda Corporation has the following cost records for June 2020. Indirect factory labor $5,210 Factory utilities $440 Direct materials used 22,640 Depreciation, factory equipment 1,790 Work in process, 6/1/20 3,580 Direct labor 42,090 Work in process, 6/30/20 3,980 Maintenance, factory equipment 1,810 Finished goods, 6/1/20 5,230 Indirect materials 2,670 Finished goods, 6/30/20 8,520 Factory manager’s salary 3,910 Prepare an income statement through gross profit for June 2020 assuming sales revenue is $87,710. CEPEDA CORPORATIONIncome Statement (Partial)choose the accounting period select an income statement item $enter a dollar amount select an opening name for section two select an income…
Cepeda Corporation has the following cost records for June 2020. Indirect factory labor $5,210 Factory utilities $440 Direct materials used 22,640 Depreciation, factory equipment 1,790 Work in process, 6/1/20 3,580 Direct labor 42,090 Work in process, 6/30/20 3,980 Maintenance, factory equipment 1,810 Finished goods, 6/1/20 5,230 Indirect materials 2,670 Finished goods, 6/30/20 8,520 Factory manager’s salary 3,910 (a) Prepare a cost of goods manufactured schedule for June 2020. CEPEDA CORPORATIONCost of Goods Manufactured Schedulechoose the accounting period select an item $enter a dollar amount select a name for subsection one $enter a dollar amount select a name…
Spartan Corp. applies manufacturing overhead based on direct labor hours. For 2023, Spartan Corp. estimated total manufacturing overhead cost to be $250,000 and estimated 50,000 total direct labor hours would be used. In 2023, actual manufacturing overhead incurred was $262,500 and 51,000 direct labor hours were used. Calculate the overhead rate using normal costing. ~ Round your answer to the nearest cent. Using normal costing, how much overhead will be applied to cost object that uses 18,500 labor hours. く Round your answer to the nearest dollar.
From the following data, determine the Cost of Goods Manufactured for 2020: Accounts Amounts Sales $ 870,000 Direct Materials used 170,000 Direct Labor costs 90,000 Total Overhead costs Work-in-Process inventory, 12-31-2019 Finished Goods inventory, 12-31-2019 Work-in-Process inventory, 12-31-2020 Finished Goods inventory, 12-31-2020 60,000 $ 35,000 $ 40,000 30,000 25,000 Rent, utilities for corporate headquarters building 70,000 A) $315,000 B) $325,000 C) $330,000 D) $340,000

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