X Company reported the following year- end information: Beginning Raw Materials Inventory S70,000 Ending Raw Materials Inventory 60,000 Beginning Work in Process Inventory 126,000 Ending Work in Process Inventory 190,000 Raw Materials purchased 120,000 Direct Labor 210,000 Manufacturing Overhead 520,000 Selling and Administrative Expenses 198,000 Refer to the above, what was the cost of raw materials used? * $190,000 $130,000 O $110,000 None of the above

X Company reported the following year- end information: Beginning Raw Materials Inventory S70,000 Ending Raw Materials Inventory 60,000 Beginning Work in Process Inventory 126,000 Ending Work in Process Inventory 190,000 Raw Materials purchased 120,000 Direct Labor 210,000 Manufacturing Overhead 520,000 Selling and Administrative Expenses 198,000 Refer to the above, what was the cost of raw materials used? * $190,000 $130,000 O $110,000 None of the above

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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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Current information for the Healey Company follows: Beginning raw materials inventory $ 15,700 Raw material purchases 65,000 Ending raw materials inventory 17,100 Beginning work in process inventory 22,900 Ending work in process inventory 28,500 Direct labor 45,300 Total factory overhead 30,500 All raw materials used were direct materials. Healey Company's total manufacturing costs for the year are:
DS-25999 company provided the following data for the end of the year (all raw materials are used in production as direct materials): Selling expenses $204,000 $243,000 $20,000 $146,000 Purchases of raw materials Direct labor Administrative expenses Manufacturing overhead applied to work in process$358,000 Actual manufacturing overhead cost $328,000 Inventory balances at the beginning and end of the year were as follows: Beginning End of Year $60,000 $38,000 $33,000 $44,000 of Year Raw materials Work in process Finished goods $25,000 $ ? For the year, the cost of goods available for sale was $704,000 and the net operating income as reported in its income statement income was $51,000. The DS-25999 company's underapplied or overapplied overhead was closed to Cost of Goods Sold. How much was the DS-25999 company's sales revenue for the year? 17,650 MAR 14 MacBook Air
Given the following data for Glennon Company, compute (A) total manufacturing costs and (B) costs of goods manufactured: $40,000 Direct materials used Direct labor Beginning work in process Ending work in process 20,000 Manufacturing overhead Beginning finished goods 50,000 Operating expenses Ending finished goods 30,000 $240,000 100,000 300,000 350,000
Given the following data for Mehring Company, what are (A) total manufacturing costs and (B) cost of goods manufactured? Direct materials Beginning work in process $230,000 used inventory Direct labor Manufacturing overhead Operating expenses OA) B) C) D) (A) 150,000 255,000 263,000 (B) Ending work in process inventory Beginning finished goods inventory Ending finished goods inventory $635,000 $620,000 $650,000 $665,000 $620,000 $650.000 $635,000 $650,000 $30,000 15,000 38,000 23,000
Required information [The following information applies to the questions displayed below.] Reimel Furniture Company, Inc., incurred the following costs during 20x2. Raw material used $173,000 Direct labor 324,000 During 20x2, manufacturing overhead of $170,000 was applied to production. Products costing $121,000 were finished, and products costing $132,000 were sold on account for $195,000. There were no purchases of raw material during the year. The beginning balances in the firm's inventory accounts are as follows: $226,000 16,000 Raw material Work in process Finished goods 30,000 2. Prepare a partial balance sheet and a partial income statement to reflect the information given above. Complete this question by entering your answers in the tabs below. Balance Sheet Income Stmt Prepare a partial balance sheet. REIMEL FURNITURE COMPANY, INC. Partial Balance Sheet As of December 31, 20x2 Inventory: Raw material $ 53,000 Work in process Finished goods
Ryder Manufacturing reported the following year end information: beginning work in process inventory $90,000; cost of goods manufactured $258,000; beginning finished goods inventory, $126,000; ending work in process inventory. $110,000; and ending finished goods inventory. $132,000. Ryders cost of goods sold for the year is: a. S252,000 b. $264,000 $238,000 d. S126,000
The following information was taken from H Company's accounting records for the year December 31, 2008: Increase in raw materials inventory P 15,000 Decrease in finished goods inventory 35.000 Raw materials purchased O 430.000 Direct labor cost 200.000 Factory overhead control 260.000 Freight-in 45.000 There was no work in process inventory at the beginning or end of the year. H's 2008 cost of goods sold is if FOH is applied at 140% of labor costs:
1. The following information was taken from H Company's accounting records for the year December 31, 2008: Increase in raw materials inventory P 15,000 Decrease in finished goods inventory 35,000 Raw materials purchased 430,000 Direct labor cost 200,000 Factory overhead control 260,000 Freight-in 45,000 There was no work in process inventory at the beginning or end of the year. H's 2008 cost of goods sold is if FOH is applied at 140% of labor costs:
N4 Ragtime Company had the following information for the year: Direct materials used $ 112,000 Direct labor incurred (5,200 hours) $ 152,000 Actual manufacturing overhead incurred $ 168,000 Ragtime Company used a predetermined overhead rate of $34 per direct labor hour for the year. Assume the only inventory balance is an ending Work in Process Inventory balance of $17,500. What was cost of goods manufactured? Multiple Choice $437,000 $423,300 $428,000 $262,000
Angela Company provided the following information for the current year: Purchases of raw materials 4,600,000 Indirect labor 720,000 Ending raw materials 680,000 Beginning goods in process 1,520,000 Depreciation on headquarters building 420,000 Factory supervisor's salary 1,120,000 Direct labor 3,960,000 Beginning raw materials 800,000 Depreciation on factory building 640,000 Ending goods in process 2,000,000 1. What amount should be reported as total goods in process for the current year?2.
Edmiston Company reported the following vear-end information: beginning work in process inventory, s80,000; cast of goods manufactured, $750,000; beginning finished goods inventory, $50,000, endng work in process inventory, $70,000; and ending finished goods inventory, 40,000. How much is Edmiston's cost of goods sold for the year? O 3740,000 O S770,000 • s760,000 O 750,000