Question
In: Accounting
what items from the list above are needed for Cost of good manufactured for a month:...
what items from the list above are needed for Cost of good manufactured for a month: Company Beginning Finished goods Inventory 13000 Beginning work in process inventory 18500 Beginning raw materials inventory 6500 Rental cost on factory equipment 22000 Direct Labor 16400 Ending finished goods inventory 21250 Ending work in process inventory 23450 Ending raw maetrials inventory 7500 Factory utilities 11670 Factory supplies used 9300 Indirect Labor 2750 Repairs-factory equipment 5500 Raw materials purchases 40000 Factory equipment, net 240000
Solutions
Expert Solution
| Following items are needed for Calculating cost of goods manufactured for a month: | ||||||
| Beginning Work in process Inventory | $ 18,500 | |||||
| Beginning Raw Material Inventory | $ 6,500 | |||||
| Raw Material Purchases | $ 40,000 | |||||
| Raw material available for use | $ 46,500 | |||||
| Ending Raw Material Inventory | $ -7,500 | |||||
| Raw Material used | $ 39,000 | |||||
| Rental cost on factory equipment | $ 22,000 | |||||
| Direct Labor | $ 16,400 | |||||
| Factory utilities | $ 11,670 | |||||
| Factory supply used | $ 9,300 | |||||
| Indirect Labor | $ 2,750 | |||||
| Repair Factory equipment | $ 5,500 | |||||
| Total manufacturing cost for this month | $1,06,620 | |||||
| Total Manufacturing costs | $1,25,120 | |||||
| Ending Work in process inventory | $ -23,450 | |||||
| Costs of goods manufactured for month | $1,01,670 | |||||
ekkarill92 answered 1 year agoRelated Solutions
Cost of Goods Manufactured for a Manufacturing Company Two items are omitted from each of the...
Cost of Goods Manufactured for a Manufacturing Company
Two items are omitted from each of the following three lists of
cost of goods manufactured statement data. Determine the amounts of
the missing items, identifying them by letter.
Work in process inventory, August 1$3,700 $31,500 (e)
Total manufacturing costs incurred during August26,300 (c)
184,900
Total manufacturing costs(a) $368,600 $200,700
Work in process inventory, August 315,700 77,400 (f)
Cost of goods manufactured(b) (d) $168,600
a.$
b.$
c.$
d.$
e.$
f.$
Cost of Goods Manufactured for a Manufacturing Company Two items are omitted from each of the...
Cost of Goods Manufactured for a Manufacturing Company
Two items are omitted from each of the following three lists of
cost of goods manufactured statement data. Determine the amounts of
the missing items, identifying them by letter.
Work in process inventory, August 1
$19,660
$41,650
(e)
Total manufacturing costs incurred during August
332,750
(c)
1,075,000
Total manufacturing costs
(a)
$515,770
$1,240,000
Work in process inventory, August 31
23,500
54,000
(f)
Cost of goods manufactured
(b)
(d)
$1,068,000
a.
$
b....
Cost of Goods Manufactured for a Manufacturing Company Two items are omitted from each of the...
Cost of Goods Manufactured for a Manufacturing Company Two items
are omitted from each of the following three lists of cost of goods
manufactured statement data. Determine the amounts of the missing
items, identifying them by letter. Work in process inventory,
August 1 $2,300 $18,600 (e) Total manufacturing costs incurred
during August 15,200 (c) 108,800 Total manufacturing costs (a)
$217,600 $118,100 Work in process inventory, August 31 3,300 45,700
(f) Cost of goods manufactured (b) (d) $99,200
Cost of Goods Manufactured for a Manufacturing Company Two items are omitted from each of the...
Cost of Goods Manufactured for a Manufacturing Company
Two items are omitted from each of the following three lists of
cost of goods manufactured statement data. Determine the amounts of
the missing items, identifying them by letter.
Work in process inventory, August 1
$2,100
$17,600
(e)
Total manufacturing costs incurred during August
14,100
(c)
103,000
Total manufacturing costs
(a)
$205,900
$111,800
Work in process inventory, August 31
3,100
43,200
(f)
Cost of goods manufactured
(b)
(d)
$93,900
a.
$
b....
everal items are omitted from the income statement and cost of goods manufactured statement data for...
everal items are omitted from the income statement and cost of
goods manufactured statement data for two different companies for
the month of December.
On
Company
Off
Company
Materials inventory, December 1
$85,120
$108,950
Materials inventory, December 31
(a)
123,110
Materials purchased
216,200
(a)
Cost of direct materials used in production
228,120
(b)
Direct labor
320,900
245,140
Factory overhead
99,590
122,020
Total manufacturing costs incurred in December
(b)
704,910
Total manufacturing costs
812,040
967,480
Work in process inventory, December 1...
Several items are omitted from the income statement and cost of goods manufactured statement data for...
Several items are omitted from the income statement and cost of
goods manufactured statement data for two different companies for
the month of May:
1
Rainier Company
Yakima Company
2
Materials inventory, May 1
$280,000.00
$177,000.00
3
Materials inventory, May 31
(a)
175,000.00
4
Materials purchased
712,600.00
340,000.00
5
Cost of direct materials used in production
752,800.00
(a)
6
Direct labor
1,059,800.00
(b)
7
Factory overhead
326,600.00
179,400.00
8
Total manufacturing costs incurred in May
(b)
1,038,000.00
9
Total manufacturing...
Several items are omitted from the income statement and cost of goods manufactured statement data for...
Several items are omitted from the income statement and cost of
goods manufactured statement data for two different companies for
the month of December:
On
Company
Off
Company
Materials inventory, December 1
$88,800
$119,880
Materials inventory, December 31
(a)
135,460
Materials purchased
225,550
(a)
Cost of direct materials used in production
237,980
(b)
Direct labor
334,780
269,730
Factory overhead
103,900
134,270
Total manufacturing costs incurred in December
(b)
775,620
Total manufacturing costs
847,160
1,064,530
Work in process inventory, December 1...
Several items are omitted from the income statement and cost of goods manufactured statement data for...
Several items are omitted from the income statement and cost of
goods manufactured statement data for two different companies for
the month of December 2016:
1
Prius Company
Volt Company
2
Materials inventory, December 1
$281,960.00
$179,000.00
3
Materials inventory, December 31
(a)
178,000.00
4
Materials purchased
712,200.00
341,200.00
5
Cost of direct materials used in production
751,600.00
(a)
6
Direct labor
1,059,200.00
(b)
7
Factory overhead
325,800.00
180,400.00
8
Total manufacturing costs incurred during December
(b)
1,032,000.00
9
Total...
Several items are omitted from the income statement and cost of goods manufactured statement data for...
Several items are omitted from the income statement and cost of
goods manufactured statement data for two different companies for
the month of December 2016:
1
Prius Company
Volt Company
2
Materials inventory, December 1
$281,960.00
$179,000.00
3
Materials inventory, December 31
(a)
178,000.00
4
Materials purchased
712,200.00
341,200.00
5
Cost of direct materials used in production
751,600.00
(a)
6
Direct labor
1,059,200.00
(b)
7
Factory overhead
325,800.00
180,400.00
8
Total manufacturing costs incurred during December
(b)
1,032,000.00
9
Total...
Several items are omitted from the income statement and cost of goods manufactured statement data for...
Several items are omitted from the income statement and cost of
goods manufactured statement data for two different companies for
the month of May: 1 Rainier Company Yakima Company 2 Materials
inventory, May 1 $100,000.00 $48,200.00 3 Materials inventory, May
31 (a) 50,000.00 4 Materials purchased 950,000.00 710,000.00 5 Cost
of direct materials used in production 938,500.00 (a) 6 Direct
labor 2,860,000.00 (b) 7 Factory overhead 1,800,000.00 446,000.00 8
Total manufacturing costs incurred during May (b) 2,484,200.00 9
Total manufacturing...
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