In: Accounting
The following are the accounts of ABC Corporation in its financial position on December 31, 2030 and December 31m 2031
2030 |
2031 |
|
Materials Inventory |
60,000 |
90,000 |
Work in Process Inventory |
34,000 |
35,000 |
Finished Goods Inventory |
46,000 |
36,000 |
Accrued Payroll |
6,200 |
7,000 |
The following amounts appeared in the company’s income statement for 2031:
Material used |
600,000 |
Cost Goods Sold |
1,840,000 |
Direct Labor |
410,000 |
Indirect Labor |
140,000 |
1. Compute the cost of goods manufactured
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Question 21 pts
The following are the accounts of ABC Corporation in its financial position on December 31, 2030 and December 31m 2031
2030 |
2031 |
|
Materials Inventory |
60,000 |
90,000 |
Work in Process Inventory |
34,000 |
35,000 |
Finished Goods Inventory |
46,000 |
36,000 |
Accrued Payroll |
6,200 |
7,000 |
The following amounts appeared in the company’s income statement for 2031:
Material used |
600,000 |
Cost Goods Sold |
1,840,000 |
Direct Labor |
410,000 |
Indirect Labor |
140,000 |
2. the payment of payroll
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Question 31 pts
The following are the accounts of ABC Corporation in its financial position on December 31, 2030 and December 31m 2031
2030 |
2031 |
|
Materials Inventory |
60,000 |
90,000 |
Work in Process Inventory |
34,000 |
35,000 |
Finished Goods Inventory |
46,000 |
36,000 |
Accrued Payroll |
6,200 |
7,000 |
The following amounts appeared in the company’s income statement for 2031:
Material used |
600,000 |
Cost Goods Sold |
1,840,000 |
Direct Labor |
410,000 |
Indirect Labor |
140,000 |
3. Materials Purchases
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Question 41 pts
The following are the accounts of ABC Corporation in its financial position on December 31, 2030 and December 31m 2031
2030 |
2031 |
|
Materials Inventory |
60,000 |
90,000 |
Work in Process Inventory |
34,000 |
35,000 |
Finished Goods Inventory |
46,000 |
36,000 |
Accrued Payroll |
6,200 |
7,000 |
The following amounts appeared in the company’s income statement for 2031:
Material used |
600,000 |
Cost Goods Sold |
1,840,000 |
Direct Labor |
410,000 |
Indirect Labor |
140,000 |
4. Total Manufacturing Cost.
1. Cost of goods manufactured = 1,830,000 $
2. Payment of payroll = 549,200 $
3. Materials purchases = 630,000 $
4. Total manufacturing cost = 1,831,000 $