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In: Accounting
An analysis of the accounts of Crane Company reveals the following manufacturing cost data for the...
An analysis of the accounts of Crane Company reveals the
following manufacturing cost data for the month ended September 30,
2020.
| Inventories | Beginning | Ending | ||
| Raw materials | $12,700 | $10,300 | ||
| Work in process | 7,700 | 5,300 | ||
| Finished goods | 10,800 | 12,600 |
Costs incurred: raw materials purchases $62,300, direct labor
$48,200, manufacturing overhead $26,900. The specific overhead
costs were: indirect labor $6,000, factory insurance $4,900,
machinery depreciation $6,400, machinery repairs $2,800, factory
utilities $3,900, miscellaneous factory costs $1,770. Assume that
all raw materials used were direct materials.
Prepare the cost of goods manufactured schedule for the month ended September 30, 2020.
Solutions
ekkarill92 answered 3 years agoRelated Solutions
An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the...
An analysis of the accounts of Roberts Company reveals the
following manufacturing cost data for the month ended June 30,
2017.
Inventory
Beginning
Ending
Raw materials
$9,000
$13,100
Work in process
5,000
7,000
Finished goods
9,000
8,000
Costs incurred: raw materials purchases $54,000, direct labor
$47,000, manufacturing overhead $19,900. The specific overhead
costs were: indirect labor $5,500, factory insurance $4,000,
machinery depreciation $4,000, machinery repairs $1,800, factory
utilities $3,100, and miscellaneous factory costs $1,500. Assume
that all raw materials used...
An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the...
An analysis of the accounts of Roberts Company reveals the
following manufacturing cost data for the month ended June 30,
2020.
Inventory
Beginning
Ending
Raw materials
$ 9,660
$ 13,620
Work in process
5,100
8,710
Finished goods
9,870
6,640
Costs incurred: raw materials purchases $ 57,250, direct labor $
51,410, manufacturing overhead $22,900. The specific overhead costs
were: indirect labor $ 6,160, factory insurance $ 4,610, machinery
depreciation $ 4,920, machinery repairs $ 2,230, factory utilities
$ 3,210, and miscellaneous...
An analysis of the accounts of Sheridan Company reveals the following manufacturing cost data for the...
An
analysis of the accounts of Sheridan Company reveals the following
manufacturing cost data for the month ended September 30,
2020.
Inventories Beginning Ending
Raw
materials $12,500 $11,000
Work
in process 6,800 5,400
Finished goods 9,600 11,700
Costs
incurred: raw materials purchases $63,700, direct labor $50,800,
manufacturing overhead $27,400. The specific overhead costs were:
indirect labor $6,900, factory insurance $4,700, machinery
depreciation $6,200, machinery repairs $2,500, factory utilities
$4,000, miscellaneous factory costs $1,890. Assume that all raw
materials used were...
Exercise 15-16 An analysis of the accounts of Roberts Company reveals the following manufacturing cost data...
Exercise 15-16
An analysis of the accounts of Roberts Company reveals the
following manufacturing cost data for the month ended June 30,
2017.
Inventory
Beginning
Ending
Raw materials
$9,460
$14,020
Work in process
6,380
8,070
Finished goods
9,350
6,960
Costs incurred: raw materials purchases $56,410, direct labor
$50,600, manufacturing overhead $23,980. The specific overhead
costs were: indirect labor $6,520, factory insurance $4,810,
machinery depreciation $4,590, machinery repairs $2,330, factory
utilities $3,910, and miscellaneous factory costs $1,820. Assume
that all raw...
On December 31, 2020, an analysis of the accounts for a company reveals the following: $100,000...
On December 31, 2020, an analysis of the accounts for a company
reveals the following:
$100,000 loss on disposal of discontinued operations, before
tax
$6,000 gain on sale of investments, before tax
$10,000 depreciation expense understatement in 2018 due to
error, before tax
$20,000 cumulative understatement of net income of prior years
from changing inventory valuation method in 2020, before tax
$168,000 income from operations, before tax
$4,000 dividends declared
The applicable income tax rate is 40% for all tax-related...
Job Cost Journal Entries and T Accounts Following are certain operating data for Durango Manufacturing Company...
Job Cost Journal Entries and T Accounts
Following are certain operating data for Durango Manufacturing
Company for January 2016
Materials Inventory
Work in Process Inventory
Finished Goods Inventory
Beginning inventory
$114,000
$48,000
$150,000
Ending inventory
66,000
81,000
96,000
Total sales were $3,600,000, on which the company earned a 40%
gross profit. Durango uses a predetermined manufacturing overhead
rate of 120% of direct labor costs. Manufacturing overhead applied
was $720,000. Exclusive of indirect material used, total
manufacturing overhead incurred was $486,000...
Job Cost Journal Entries and T Accounts Following are certain operating data for Redwood Manufacturing Company...
Job Cost Journal Entries and T Accounts
Following are certain operating data for Redwood Manufacturing
Company for January 2016
Materials
Inventory
Work in
Process Inventory
Finished Goods
Inventory
Beginning inventory
$88,000
$110,000
$176,000
Ending inventory
154,000
132,000
123,200
Total sales were $4,400,000, on which the company earned a 40%
gross profit. Redwood uses a predetermined manufacturing overhead
rate of 110% of direct labor costs. Manufacturing overhead applied
was $871,200. Exclusive of indirect material used, total
manufacturing overhead incurred was $660,000...
The following data, presented in alphabetical order, are taken from the records of Crane Corporation. Accounts...
The following data, presented in alphabetical order, are taken
from the records of Crane Corporation.
Accounts payable
$239,200
Accounts receivable
139,200
Accumulated
depreciation—buildings
179,600
Accumulated
depreciation—equipment
52,800
Allowance for doubtful
accounts
6,800
Bonds payable (10%, due
2028)
499,700
Buildings
949,500
Cash
41,700
Common stock ($10 par value;
506,600 shares authorized, 149,400 shares issued)
1,494,000
Dividends payable
79,600
Equipment
275,700
Goodwill
200,900
Income taxes payable
119,200
Inventory
170,300
Investment in Mara common
stock (30% ownership), at equity
379,400
Investment in Sasse...
Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Sandusky Manufacturing Company...
Statement of Cost of Goods Manufactured for a Manufacturing
Company Cost data for Sandusky Manufacturing Company for the month
ended January 31 are as follows: Inventories January 1 January 31
Materials $210,250 $182,920 Work in process 138,770 120,730
Finished goods 109,330 124,390 Direct labor $378,450 Materials
purchased during January 403,680 Factory overhead incurred during
January: Indirect labor 40,370 Machinery depreciation 24,390 Heat,
light, and power 8,410 Supplies 6,730 Property taxes 5,890
Miscellaneous costs 10,930.
b. Determine the cost of goods...
Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Sandusky Manufacturing Company...
Statement of Cost of Goods Manufactured for a Manufacturing
Company Cost data for Sandusky Manufacturing Company for the month
ended January 31 are as follows:
Inventories January 1 January 31
Materials $159,750 $135,790
Work in process 105,440 89,620
Finished goods 83,070 90,980
Direct labor $287,550
Materials purchased during January 306,720
Factory overhead incurred during January:
Indirect labor 30,670
Machinery depreciation 18,530
Heat, light, and power 6,390
Supplies 5,110
Property taxes 4,470
Miscellaneous costs 8,310
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