Question

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10. If 151200 units are started into production there was no beginning work in process, and...

10. If 151200 units are started into production there was no beginning work in process, and 49600 units are in process at the end of the period, how many units were completed and transferred out?

200800.

49600.

151200.

101600.

11.Marigold Corp. reported the following year-end information:

Beginning work in process inventory $ 52000
Beginning raw materials inventory 28000
Ending work in process inventory 50000
Ending raw materials inventory 25000
Raw materials purchased 860000
Direct labor 440000
Manufacturing overhead 100000


How much is Marigold’s cost of goods manufactured for the year?

$863000

$1405000

$1403000

$1401000

Solutions

Expert Solution

10. Units completed = beginning work-in process + Units introduced to production - ending work in process

= 151200 -49600 = 101600

units completed and transferred out : 101600 units

11. $1,405,000

Cost of goods manufactured = Direct materials used + Direct labor charges + Overhead applied + Beginning work in process - Ending work in process

Direct materials used = Beginning Raw Materials Inventory + Raw Material Purchases – Ending Raw Materials Inventory

Beginning work in process inventory $ 52000
Beginning raw materials inventory 28000
Ending work in process inventory 50000
Ending raw materials inventory 25000
Raw materials purchased 860000
Direct labor 440000
Manufacturing overhead 100000

Direct material used = 28000 + 860000 - 25000 = 863000

Cost of goods manufactured = 863000 + 440000 + 100000 + 52000 - 50000 = $1405000

Marigold’s cost of goods manufactured for the year: $1,405,000

ekkarill92 answered 2 years ago
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