1.
To identify: The direct material inventory at October 31, 2014.
Given information:
Direct material inventory, 10/1/2014 is $105 million.
Direct material inventory purchased is $365 million.
Direct material used is $385 million.
2.
To identify: The fixed manufacturing
Given information:
Total manufacturing overhead costs for October 2014 is $450 million.
Variable manufacturing overhead costs for October 2014 is $265 million.
3.
To identify: The direct manufacturing labor costs for October 2014.
Given information:
Total manufacturing overhead costs for October 2014 is $450 million.
Total
Direct material used is $385 million.
4.
To identify: The work-in-process inventory.
Given information:
Work-in-process inventory is $230 million.
Total manufacturing costs for October 2014 is $1,610 million.
Cost of goods manufactured is $1,660 million.
5.
To identify: The cost of goods available for sale in October 2014.
Given information:
Finished goods inventory, 10/1/2014 is $130 million.
Cost of goods manufactured is $1,660 million.
6.
To identify: The finished-goods inventory, 10/31/2014.
Given information:
Finished goods inventory, 10/1/2014 is $130 million.
Cost of goods manufactured is $1,660 million.
Cost of goods sold is $1,770 million.
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Chapter 2 Solutions
Cost Accounting, Student Value Edition Plus MyAccountingLab with Pearson eText -- Access Card Package (15th Edition)
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