Question
In: Accounting
Okaboji Manufacturing Company reported the following materials data for the month ending November 30: Materials purchased...
Okaboji Manufacturing Company reported the following materials data for the month ending November 30:
Materials purchased $178,600
Materials inventory, Novermber 1 $56,400
Materials inventory, November 30 $47,000
Determine the cost of direct materials used in production by Okaboji during the month ended November 30.
Solutions
Expert Solution
cost of direct materials =( materials purchased + opening inventory-
closing inventory )
given that :
materials purchased = $178,600
opening inventory = $56,400
closing inventory = $47,000
cost of direct materials = ($178,600+$56,400-$47,000)
= $188,000
the cost of direct materials used in production by Okaboji during the month ended Nov30 = $188,000
ekkarill92 answered 2 years agoRelated Solutions
Okaboji Manufacturing Company reported the following materials data for the month ending November 30:
Okaboji Manufacturing Company reported the following materials data for the month ending November 30:Materials purchased $490,900Materials inventory, November 1 64,900Materials inventory, November 30 81,300Determine the cost of direct materials used in production by Okaboji during the month ended november 30
Bledsoe Corporation has provided the following data for the month of November: Beginning Ending Raw materials...
Bledsoe Corporation has provided the following data for the
month of November:
Beginning
Ending
Raw
materials
$
26,800
$
22,800
Work in
process
$
18,800
$
11,800
Finished
Goods
$
49,800
$
57,800
Additional information:
Raw materials
purchases
$
73,800
Direct labor
cost
$
93,800
Manufacturing
overhead cost incurred
$
43,980
Indirect
materials included in manufacturing overhead cost incurred
$
4,180
Manufacturing
overhead cost applied to Work in Process
$
42,800
Any underapplied or overapplied manufacturing overhead is closed
out...
Bledsoe Corporation has provided the following data for the month of November: Beginning Ending Raw materials...
Bledsoe Corporation has provided the following data for the
month of November:
Beginning
Ending
Raw materials
$
26,500
$
22,500
Work in process
$
18,500
$
11,500
Finished Goods
$
49,500
$
57,500
Additional information:
Raw materials purchases
$
73,500
Direct labor cost
$
93,500
Manufacturing overhead cost incurred
$
43,650
Indirect materials included in manufacturing overhead cost
incurred
$
4,150
Manufacturing overhead cost applied to Work in Process
$
42,500
Any underapplied or overapplied manufacturing overhead is closed
out...
Bledsoe Corporation has provided the following data for the month of November: Beginning Ending Raw materials...
Bledsoe Corporation has provided the following data for the
month of November:
Beginning
Ending
Raw materials
$
26,800
$
22,800
Work in process
$
18,800
$
11,800
Finished Goods
$
49,800
$
57,800
Additional information:
Raw materials purchases
$
73,800
Direct labor cost
$
93,800
Manufacturing overhead cost incurred
$
43,980
Indirect materials included in manufacturing overhead cost
incurred
$
4,180
Manufacturing overhead cost applied to Work in Process
$
42,800
Any underapplied or overapplied manufacturing overhead is closed
out...
Bledsoe Corporation has provided the following data for the month of November: Beginning Ending Raw materials...
Bledsoe Corporation has provided the following data for the
month of November:
Beginning
Ending
Raw materials
$
25,800
$
21,800
Work in process
$
17,800
$
10,800
Finished Goods
$
48,800
$
56,800
Additional information:
Raw materials purchases
$
72,800
Direct labor cost
$
92,800
Manufacturing overhead cost incurred
$
42,880
Indirect materials included in manufacturing overhead cost
incurred
$
4,080
Manufacturing overhead cost applied to Work in Process
$
41,800
Any underapplied or overapplied manufacturing overhead is closed
out...
DATA SECTION: For the Month Ended November 30, 2017 Balance Balance November 1 November 30 Raw...
DATA SECTION:
For the Month Ended November 30, 2017
Balance Balance
November 1 November 30
Raw Material Inventory $ 5,600 $ 4,100
Work in Process Inventory 10,200 12,800
Finished Goods Inventory 8,100
6,700
Purchases of Raw Materials $63,000
Direct Manufacturing Labor 15,000
Indirect Manufacturing Labor 32,000
Plant Insurance 8,000
Depreciation Expense - Plant, Building, and Equip. 22,000
Repairs and Maintenance - Plant 7,200
Marketing, Distribution, and Customer-Service Costs 24,000
General and Administrative Costs 19,200
Revenue 258,300...
During the current month, Cullumber Company incurs the following manufacturing costs. (a) Purchased raw materials of...
During the current month, Cullumber Company incurs the following
manufacturing costs.
(a)
Purchased raw materials of $18,300 on account.
(b)
Incurred factory labor of $40,200. Of that amount, $32,400
relates to wages payable and $7,800 relates to payroll taxes
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Factory utilities of $3,600 are payable, prepaid factory
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factory building is $9,000.
Prepare journal entries for each type of manufacturing cost.
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amount...
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Assume that The AM Bakery is preparing a budget for the month
ending November 30. Management prepares the budget by starting with
the actual results for August that is shown below. Then,
management considers what the differences in costs will be between
August and November.
THE AM BAKERY
Bakery sales
Actual and Budgeted Costs
For the Month Ending August 31
Actual
Ingredients
Flour
$
3,980
Butter
3,580
Oil
1,940
Fruit
1,540
Nuts
980
Chocolate
1,200
Other
800
Total ingredients
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II. Ending June 30 records for June 30 for ABC Company Revenue 1,600,000 Raw Materials Purchased...
II. Ending June 30 records for June 30 for ABC
Company
Revenue
1,600,000
Raw Materials Purchased in Month
150,000
Direct Labor Cost
55,000
Advertising Expense
25,000
Rent on Factory
42,000
Sales Commissions
70,000
Maintenance Expense on factory Equip.
22,000
Supplies for the Factory
3,500
Depreciation on Factory Equipment
35,000
Indirect labor Cost
50,600
Utilities Expense for Factory
12,000
Depreciation on Sales Office Cars
22,000
Raw Matl
WIP
Finished Goods
Beginning Inventory
12,000
15,000
35,000
Ending Inventory
8,000
20,000
40,000
Prepare...
1. During the current month, Waterway Company incurs the following manufacturing costs. (a) Purchased raw materials...
1. During the current month, Waterway Company incurs the
following manufacturing costs.
(a)
Purchased raw materials of $17,800 on account.
(b)
Incurred factory labor of $38,200.
(c)
Factory utilities of $3,800 are payable, prepaid factory
property taxes of $2,810 have expired, and depreciation on the
factory building is $9,800.
Record the company’s manufacturing costs in its job order costing
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2. During January, its first month of operations, Ayayai Company
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