Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows. Indicate the...

Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows.

Indicate the missing amount for each letter.

Direct materials used$10,060$

(g)Direct labor5,2608,420Manufacturing overhead8,9004,320Total manufacturing costs

(a)17,100Beginning work in process inventory1,710

(h)Ending work in process inventory

(b)3,140Sales revenue25,440

(i)Sales discounts2,6101,560Cost of goods manufactured18,04022,610Beginning finished goods inventory

(j)Cost of goods sold

(d)

(k)Ending finished goods inventory3,7003,090Gross profit

(e)8,070Operating expenses2,910

(l)Net income

(f)5,310

Solutions

Expert Solution

ekkarill92 answered 1 year ago

Next > < Previous

Related Solutions

Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows. Indicate the...

Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows. Indicate the missing amount for each letter. Case 1 2 Direct materials used $10,190 $ (g) Direct labor 5,130 8,660 Manufacturing overhead 8,720 4,960 Total manufacturing costs (a) 16,760 Beginning work in process inventory 1,840 (h) Ending work in process inventory (b) 3,920 Sales revenue 25,500 (i) Sales discounts 2,880 2,240 Cost of goods manufactured 18,010 22,790 Beginning finished goods inventory (c) 4,140 Goods available for...

Problem 19-3A (Part Level Submission) Incomplete manufacturing costs, expenses, and selling data for two different cases...

Problem 19-3A (Part Level Submission) Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows. Collapse question part (a) Indicate the missing amount for each letter. Case 1 2 Direct materials used $7,700 $ Direct labor 5,380 8,160 Manufacturing overhead 8,370 4,120 Total manufacturing costs 18,030 Beginning work in process inventory 1,410 Ending work in process inventory 2,550 Sales revenue 24,470 Sales discounts 2,530 1,350 Cost of goods manufactured 16,950 21,820 Beginning finished goods inventory 3,230...

The actual selling expenses incurred in March 2020 by Fallon Company are as follows. Variable Expenses...

The actual selling expenses incurred in March 2020 by Fallon Company are as follows. Variable Expenses Fixed Expenses Sales commissions $11,178 Sales salaries $35,100 Advertising 12,156 Depreciation 6,500 Travel 6,912 Insurance 1,900 Delivery 3,576 (a) Prepare a flexible budget performance report for March, assuming that March sales were $172,800. Variable costs and their percentage relationship to sales are sales commissions 6%, advertising 7%, traveling 4%, and delivery 2%. Fixed selling expenses will consist of sales salaries $35,100, Depreciation on delivery...

The actual selling expenses incurred in March 2017 by Fallon Company are as follows. Variable Expenses...

The actual selling expenses incurred in March 2017 by Fallon Company are as follows. Variable Expenses Fixed Expenses Sales commissions $10,978 Sales salaries $35,100 Advertising 11,911 Depreciation 7,300 Travel 8,415 Insurance 1,900 Delivery 3,446 (a) Prepare a flexible budget performance report for March, assuming that March sales were $168,300. Variable costs and their percentage relationship to sales are sales commissions 6%, advertising 7%, traveling 5%, and delivery 2%. Fixed selling expenses will consist of sales salaries $35,100, Depreciation on delivery...

Give two examples of brands where manufacturing costs are well below the selling price. With that...

Give two examples of brands where manufacturing costs are well below the selling price. With that in mind provide answers to the below questions; 1. How have the companies been successful in charging high prices to the brand’s consumers, despite the low costs of manufacturing? 2. How is customer information used as a part of the pricing strategy? Be prepared to discuss and defend your choices with your classmates. Your Discussion should be a minimum of 250 words in length...

ive two examples of brands where manufacturing costs are well below the selling price. With that...

ive two examples of brands where manufacturing costs are well below the selling price. With that in mind provide answers to the below questions; How have the companies been successful in charging high prices to the brand’s consumers, despite the low costs of manufacturing? How is customer information used as a part of the pricing strategy?

Question # 4 — CLASSIFICATION OF COSTS AND EXPENSES Instructions: Classify the following manufacturing costs and...

Question # 4 — CLASSIFICATION OF COSTS AND EXPENSES Instructions: Classify the following manufacturing costs and expenses by using the following code letters: A. Direct materials cost B. Direct labor cost C. Manufacturing overhead cost D. Period cost Abel Manufacturing Company incurs the following costs and expenses in making furniture: __ 1. Lubricants, rosin, and polishing compounds used in manufacturing __ 2. Oak and pine wood used in desks and chairs __ 3. Insurance on factory building __ 4. Advertising...

A company’s budgeted costs for 60,000 units are as follows: Fixed manufacturing costs $30,000 Variable manufacturing...

A company’s budgeted costs for 60,000 units are as follows: Fixed manufacturing costs $30,000 Variable manufacturing costs $15.00 per unit The company produced 50,000 units. How much is the flexible budget total manufacturing cost?

A company's budgeted manufacturing costs for 75,000 units are as follows:

A company's budgeted manufacturing costs for 75,000 units are as follows: Fixed manufacturing costs $15,000 Variable manufacturing costs $18.00 per unit The company produced 70,000 units. Under a flexible budget, how much are budgeted total manufacturing costs? $1,380,000 $1.260,000 $1,365,000 $1,275,000

Absorption Costing treats all manufacturing costs and selling costs as product costs, regardless of whether they...

Absorption Costing treats all manufacturing costs and selling costs as product costs, regardless of whether they are fixed or variable. T/F When units produced = units sold, Absorption costing net operating income < Variable costing net operating income. T/F When determining the units to which costs will be assigned in Equivalent Units, the beginning WIP units + units started into production = units completed and transferred out + ending WIP units. T/F When calculating Equivalent units, Conversion costs include Direct...

Subjects