DQLSel2aduwPvlz FI5p4YPqtm2fvklcVkdFKmgEUGNwOFpSlpJg/formResponseC Expo 2002CExpo Bodhi AmaalaTatweerMashroatIMCTC diX Company reported the following year-end information:Beginning Raw Materials Inventory$80,000Ending Raw Materials Inventory70,000Beginning Work in Process Inventory125,000Ending Work in Process Inventory156,000Raw Materials purchased100,000Direet labor210,000Manufacturing Overhead530,000Selling and Admmistrative Expenses157,000Refer to the above. what was the cost of raw materials used?$90,000$130,000$110.000None of the above Sel2aduwPvlz_FI15p4YPqtm2fvklcVkdFKmgEUGNwOFpSlpJg/formResponseC Expo 2002CExpo Bodhi C Amaala C Tatweer Mashroat C IMCTC directRefer to the above, the company's total manufacturing cost was: "$975,000$850,000$986,000None of the aboveRefer to the above, how much would the company report for cost of goodsmanufactured?S694.000S819,000s881,000None of the above

Name: DQLSel2aduwPvlz FI5p4YPqtm2fvklcVkdFKmgEUGNwOFpSlpJg/formResponseC Ex
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Description: DQLSel2aduwPvlz FI5p4YPqtm2fvklcVkdFKmgEUGNwOFpSlpJg/formResponseC Expo 2002CExpo Bodhi AmaalaTatweerMashroatIMCTC diX Company reported the following year-end information:Beginning Raw Materials Inventory$80,000Ending Raw Materials Inventory70,000Be

Cost of direct material used = Beginning raw material inventory + Raw materials purchased - Closing…

Business

Accounting

X Company reported the following year-end information: Beginning Raw Materials Inventory $80,000 Ending Raw Materials Inventory 70,000 Beginning Work in Process Inventory 125,000 Ending Work in Process Inventory 156,000 Raw Materials purchased 100,000 Dircet labor 210,000 Manufacturing Overhead 530,000 Selling and Admmistrative F xpenses 157,000 Refer to the above. what was the cost of raw materials used? $90,000 O $130,000 $110.000 None of the above

X Company reported the following year-end information: Beginning Raw Materials Inventory $80,000 Ending Raw Materials Inventory 70,000 Beginning Work in Process Inventory 125,000 Ending Work in Process Inventory 156,000 Raw Materials purchased 100,000 Dircet labor 210,000 Manufacturing Overhead 530,000 Selling and Admmistrative F xpenses 157,000 Refer to the above. what was the cost of raw materials used? $90,000 O $130,000 $110.000 None of the above

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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The following data from the just completed year are taken from the accounting records of Mason Company: $ 653,000 $ 88,000 $ 130,000 $ 100,000 $ 40,000 $ 225,000 $ 202,000 Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Inventories Raw materials Work in process Finished goods Beginning $ 8,900 $ 5,500 $ 73,000 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. 2. Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. 3. Prepare an income statement. Complete this question by entering your answers in the tabs below. Ending $ 10,600 $ 20,100 $ 25,800 Required 1 Required 2 Required 3 Direct materials: Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct…
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X Company reported the following year-end information: Beginning Raw Materials Inventory $60,000 Ending Raw Materials Inventory 90,000 Beginning Work in Process Inventory 113,000 Ending Work in Process Inventory 180,000 Raw Materials purchased 200,000 Direct Labor 210,000 Manufacturing Overhead 490,000 Selling and Administrative Expenses 157,000 Refer to the above, what was the cost of raw materials used? * $260,000 $170,000 $140,000 None of the above
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