Need help wwwwwIn Lyra Enterprises, for the year 2020, whatis the cost of goods manufactured if thebeginning work in process was $45,000,ending work in process was $38,000, rawmaterials used were $85,000, direct laborwas $58,000, manufacturing overhead was$32,000, and legal fees were $8,000?

Step 1: Find the total manufacturing cost (TMC)= raw materials + direct labor + manufacturing…

Answered: wwwww In Lyra Enterprises, for the year…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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In Vega Production, for the year 2022, what is the cost of goods manufactured if the beginning work in process was $50,000, ending work in process was $45,000, raw materials used were $100,000, direct labor was $70,000, manufacturing overhead was $40,000, and research and development costs were $20,000?
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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?
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Capiz Company's 2020 manufacturing costs were as follows: Direct materials P70,000; Direct labor P50,000; Depreciation of manufacturing equipment P85,000; Depreciation of factory building P50,000; Janitor's wages for cleaning factory premises P15,000. How much of these costs should be inventoried using the throughput accounting? a.P 50,000 b.P 70,000 c.P120,000 d.P270,000
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
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wwwww In Lyra Enterprises, for the year 2020, what is the cost of goods manufactured if the beginning work in process was $45,000, ending work in process was $38,000, raw materials used were $85,000, direct labor was $58,000, manufacturing overhead was $32,000, and legal fees were $8,000?