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Using the following account balances for Delray Manufacturing, calculate Delray's Cost of Goods Manufactured. Sales Beginning inventories: Raw materials Work in process Finished goods Raw materials purchases Direct labor Indirect labor Repairs-factory equipment Rent expense-factory building Selling expenses General & administrative expense: Ending inventories: Raw materials Work in process Finished goods $1,250,000 37,000 53,900 62,700 175,600 225,000 47,000 23,000 57,000 94,000 129,300 42,700 41,500 67,300

Using the following account balances for Delray Manufacturing, calculate Delray's Cost of Goods Manufactured. Sales Beginning inventories: Raw materials Work in process Finished goods Raw materials purchases Direct labor Indirect labor Repairs-factory equipment Rent expense-factory building Selling expenses General & administrative expense: Ending inventories: Raw materials Work in process Finished goods $1,250,000 37,000 53,900 62,700 175,600 225,000 47,000 23,000 57,000 94,000 129,300 42,700 41,500 67,300

FINANCIAL ACCOUNTING
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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5 7 Using the following account balances for Delray Manufacturing, calculate Delray's Cost of Goods Manufactured. Sales Beginning inventories: 1 9 O 45,000 Raw materials Work in process Finished goods Raw materials purchases Direct labor Indirect labor Repairs-factory equipment 8,500 Rent expense-factory building Selling expenses General & administrative expense: Ending inventories: Raw materials $1,250,000 46,500 37,000 53,900 62,700 175,600 225,000 Work in process Finished goods Calculate the Cost of Goods Manufactured Beck Manufacturing reports the following information in T-accounts for the current year. Raw Materials Finished Goods Work in Process 10,000 47,000 23,000 57,000 94,000 129,300 42,700 41,500 67,300 14,000 46,500 27,500 55,000 12,000 Given the information above, how much is Beck's Cost of Goods Manufactured and Cost of Goods Sold? Cost of Goods Manufactured Cost of Goods Sold 16,000 131,000 129,000 131,000 18,000
Transcribed Image Text:5 7 Using the following account balances for Delray Manufacturing, calculate Delray's Cost of Goods Manufactured. Sales Beginning inventories: 1 9 O 45,000 Raw materials Work in process Finished goods Raw materials purchases Direct labor Indirect labor Repairs-factory equipment 8,500 Rent expense-factory building Selling expenses General & administrative expense: Ending inventories: Raw materials $1,250,000 46,500 37,000 53,900 62,700 175,600 225,000 Work in process Finished goods Calculate the Cost of Goods Manufactured Beck Manufacturing reports the following information in T-accounts for the current year. Raw Materials Finished Goods Work in Process 10,000 47,000 23,000 57,000 94,000 129,300 42,700 41,500 67,300 14,000 46,500 27,500 55,000 12,000 Given the information above, how much is Beck's Cost of Goods Manufactured and Cost of Goods Sold? Cost of Goods Manufactured Cost of Goods Sold 16,000 131,000 129,000 131,000 18,000
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