Work in process Inventory jan, 1 2009 Direct materials inventory, dec. 31,2009 Finished goods inventory, Dec 31 2009 Work in process Inventory Dec 31, 1 2009 Finished goods inventory, Jan 1, 2009 Direct materials inventory, Jan 1,2009 Tk. 10 5 12 2 40 30 Plant utilities Indirect manufacturing labor Depreciation-plant & equipment Miscellancous manufacturing overhead Marketing, distribution and customer service 20 9 10 costs 90 Direct Material purchase Direct manufacturing labor Plant supplies used Property taxes on plant 80 40 1

Work in process Inventory jan, 1 2009 Direct materials inventory, dec. 31,2009 Finished goods inventory, Dec 31 2009 Work in process Inventory Dec 31, 1 2009 Finished goods inventory, Jan 1, 2009 Direct materials inventory, Jan 1,2009 Tk. 10 5 12 2 40 30 Plant utilities Indirect manufacturing labor Depreciation-plant & equipment Miscellancous manufacturing overhead Marketing, distribution and customer service 20 9 10 costs 90 Direct Material purchase Direct manufacturing labor Plant supplies used Property taxes on plant 80 40 1

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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8 Depreciation--equipment 9 Direct labor 10 Direct materials inventory, 1/1 11 Direct materials inventory, 12/31 12 Factory rent 13 Finished goods, 1/1 14 Finished goods, 12/31 15 Indirect labor 16 Indirect materials 17 Purchases of direct materials 18 Work in process, 1/1 19 Work in process, 12/31 20 21 22 Answer Section: 23 24 25 26 27 28 Direct materials 29 Direct materials inventory, 1/1 30 Add: Purchases of Materials 31 32 Cost of direct materials available 33 Less: Direct Material, 12/31 34 35 Cost of direct materials used 36 Direct labor $45,000 642,000 91,500 93,000 76,410 132,000 172,500 37,500 26,250 645,180 30,300 28,665 Jackson Manufacturing Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31 $91,500 ‒‒‒‒‒‒‒‒ $0 642,000
Raw materials inventory, January 1 $20000 Raw materials inventory, December 31 50000 Work in process, January 1 27000 Work in process, December 31 18000 Finished goods, January 1 60000 Finished goods, December 31 48000 Raw materials purchases 1700000 Direct labor 890000 Factory utilities 225000 Indirect labor 75000 Factory depreciation 500000 Operating expenses 630000 What is the cost of direct materials used during the period?
Question 9 of 17 Cullumber Company reported the following amounts for 2022: Manufacturing overhead costs applied Beginning work in process inventory Ending work in process inventory Cost of materials used in production $ (b) Calculate total manufacturing costs. Total manufacturing costs $ tA $108,800 +A 6,656 5.760 9,728 10,240 (a) Calculate the cost of materials used in production. 25,600 38,400 7,808 8,064
Question: 2014 Date Explanation Debit Dec. Direct materials cost $1,250,000 31 31 Direct labor cost 31 Overhead costs $ 300,000 $400,000 31 To finished goods Credit Balance $1,250,000 $1,800,000 $2,400,000 $2,350,000 $50,000 1) Determine the overhead rate used (based on the direct material cost). 2) Only one job remained in the goods in process inventory at December 31, 2014. Its direct materials cost is $30,000. How much direct labor cost and overhead cost are assigned to it?
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L13 D. 4 Data Section: $45,000 9. 642,000 91,500 93,000 Direct labor 8 Direct materials inventory, 1/1 9 Direct materials inventory, 12/31 10 Factory rent 11 Finished goods, 1/1 12 Finished goods, 12/31 13 Indirect labor 76,410 132,000 172,500 37,500 26,250 14 Indirect materials 15 Purchases of direct materials 16 Work in process, 1/1 17 Work in process, 12/31 645,180 30,300 28,665 Depreciation-equipment 18 19 Answer Section: 20 Jackson Manufacturing 21 22 Schedule of Cost of Goods Manufactured 23 For the Year Ended December 31 24 25 Work in process, 1/1 $30,300 26 Direct materials Direct materials inventory, 1/1 28 Add: 27 $91,500 FORMULA 1 Purchases of Materials 29 30 Cost of direct materials available $0 FORMULA 2 31 Less: Direct Material, 12/31 32 33 Cost of direct materials used FORMULA 3 34 Direct labor 642,000 35 Manufacturing overhead: 36 Factory rent 37 Depreciation - Equipment $76,410 FORMULA 4 MFG Enter Search the web and Windows op THOF
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Current Attempt in Progress Waterway Company developed the following data for the current year: Beginning Work in Process Inventory Direct materials used Actual overhead Overhead applied Cost of goods manufactured Total manufacturing costs $290000 $516000. $226000. $806000. $504000. 146000 298000 226000 278000 794000 Waterway Company's ending Work in Process Inventory is
Beginning work in process inventory $1,080,000 Beginning raw materials inventory 300,000 Ending work in process inventory 900,000 Ending raw materials inventory Raw materials purchased 480,000 960,000 Direct labor 900,000 Manufacturing overhead Laflin Company's cost of goods manufactured for the year 720,000 is
Requirement 1. Calculate direct materials inventory on August 31, 2022. Determine the formula and then calculate the direct materials inventory value at August 31, 2022. (Work in millions. Use a minus sign or parentheses for numbers to be subtracted.) Direct materials available for production Direct materials inventory, August 31, 2022 Requirement 2. Calculate fixed manufacturing overhead costs for August. (Work in millions. Use a minus sign or parentheses for numbers to be subtracted.) Fixed manufacturing overhead costs
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