The following information is provided by Cogger Company. Amount $298,500 $132,000 $264,000 $85,500 Selling expenses $48,800 Work in process inventory, January 1 $118.500 Work in process inventory, December 31 $125,900 Finished goods inventory, January 1 $232,100 Finished goods inventory, Decmeber 31 $238.700 Direct materials Direct labor Factory overhead costs General and administrative expenses Calculate cost of goods manufactured using the given information. O $687,100 $40.0000 Particulars $429.400 $694.500

The following information is provided by Cogger Company. Amount $298,500 $132,000 $264,000 $85,500 Selling expenses $48,800 Work in process inventory, January 1 $118.500 Work in process inventory, December 31 $125,900 Finished goods inventory, January 1 $232,100 Finished goods inventory, Decmeber 31 $238.700 Direct materials Direct labor Factory overhead costs General and administrative expenses Calculate cost of goods manufactured using the given information. O $687,100 $40.0000 Particulars $429.400 $694.500

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 2SEA: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Maupin...

See similar textbooks

Similar questions

Direct materials used in production Direct labor Total actual manufacturing overhead costs Over-applied Manufacturing overhead Beginning Work in Process inventory Cost of Goods Manufactured Decrease in Finished Goods Inventory Compute the Cost of Work put into process. P 500,000 400,000 300,000 24,000 120,000 1,400,000 100,000
Lise the cost information below for Sundar Company to determine the cost of goods manafactured during the current year Direct materials used Direct labor used 20,000 25,500 50,100 11,700 Factory overhead Work in process inventory, beginning Work in process inventory, ending 12,300 Multiple Choice $45.500 $95.000 $44.900 $95.600 $75,000
The following data is provided for Garcon Company and Pepper Company. Garcon Company Pepper Company Beginning finished goods inventory $ 14,200 $ 17,050 Beginning work in process inventory 16,000 20,100 Beginning raw materials inventory (direct materials) 9,500 13,350 Rental cost on factory equipment Direct labor 22,300 23250 32,250 33 300 22, 200 443400 20,900 37,400 Ending finished goods inventory 14,800 Ending work in process inventory 19,800 200 26, 200 5 800 5,800 Ending raw materials inventory Factory utilities 8,400 750 15,000 13,750 Factory supplies used (indirect materials) 10000 10,000 5,300 General and administrative expenses 25,500 46,000 Indirect labor 1,650 8,260 7,820 2,950 Repairs-Factory equipment Raw materials purchases Selling expenses 47,500 54,500 57,600 55,000 Sales 249,030 327,510 Cash 34,000 17,700 Factory equipment, net 277,500 148,825 Accounts receivable, net 16,600 22,450 Required: 1. Complete the table to find the cost of goods manufactured for both Garcon…
Cullumber Company reported the following amounts for May: Raw materials purchased Beginning raw materials inventory Ending raw materials inventory Direct labor incurred Indirect materials requisitioned and used Actual manufacturing overhead costs Beginning work-in-process inventory Ending work-in-process inventory $257000 $257000. $256800. ◆ $259900. O $261100. 12300 8200 54000 4300 40000 15400 12300 How much is the cost of direct materials used in production?
Current Attempt in Progress Determine the missing manufacturing cost data for Blossom Company as presented below. (Assume all raw materials used were direct materials.) Direct materials used Direct labor Manufacturing overhead Total manufacturing costs Work in process inventory. 1/1/22 Total cost of work-in- process Work in process inventory, 12/31/22 Cost of goods manufactured Case A (a) $58,140 47.430 199.530 (b) 225.930 (c) 183.930 Case B $76,930 77,520 83,210 (d) 16,830 (e) 9,180 (f) Case C $132,600 104,040 (g) 289,330 (h) 333,540 81,600 (1)
Princeton 3 Company has the following information for May:Cost of direct materials used in production $17,300Direct labor 44,700Factory overhead 28,800Work in process inventory, May 1 72,100Work in process inventory, May 31 76,400Finished goods inventory, May 1 30, 300Finished goods inventory, May 31 34,600For May, determine a) the cost of goods manufactured and b) the cost of goods sold
Oriole Company reported the following amounts for May: Raw materials purchased Beginning raw materials inventory Ending raw materials inventory Direct labor incurred Indirect materials requisitioned and used Actual manufacturing overhead costs Beginning work-in-process inventory Ending work-in-process inventory $259000 O $263100. O $259000. $261700. O $258600. 12500 8400 56000 4500 42000 15600 12500 How much is the cost of direct materials used in production?
Assume the following information from a schedule of cost of goods manufactured: Beginning work in process inventory $ 30,000Direct materials used in production $ 50,000Direct labor $ 60,000Total manufacturing costs to account for $ 207,000Ending work in process inventory $ 72,000 What is the manufacturing overhead applied to work in process?
Work in process (1/1) Direct materials Raw materials inventory (1/1) Add: Raw materials purchases Total raw materials available for use Less: Raw materials inventory (12/31) Direct materials used Direct labor Manufacturing overhead Indirect labor Factory depreciation Factory utilities Total overhead Total manufacturing costs HOBBIT COMPANY Cost of Goods Manufactured Schedule 165,180 22,660 24,790 39,270 77.660 $186,990 141,720 $213,960
Given the following information, determine the cost of goods manufactured. Direct Labor Incurred $64,000 180,000 Manufacturing Overhead Incurred Direct Materials Used 155,000 197,000 98,000 220,500 110,000 Finished Goods Inventory, Jan. 1 Finished Goods Inventory, Dec. 31 Work-in - Process Inventory, Jan. 1 Work-in - Process Inventory, Dec. 31 O A. $185,000 B. $509,500 OC. $289,000 O D. $399,000
Problem 3-13 (Algo) Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [L03-3] Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): Selling expenses Purchases of raw materials $ 217,000 $ 268,000 Direct labor Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost $ 159,000 $ 371,000 $ 359,000 Inventory balances at the beginning and end of the year were as follows: Beginning $ 54,000 Ending $ 35,000 $ 23,000 Raw materials Work in process Finished goods $ 39,000 ? The total manufacturing costs added to production for the year were $685,000; the cost of goods available for sale totaled $735,0003; the unadjusted cost of goods sold totaled $662,000; and the net operating income was $40,000. The company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Required: Prepare schedules of cost of goods…
1. Answer the following guestions by analysing the T-accounts given below. Materials Inventory Work in Process Inventory Beg. balance $ 20,000 $ 18,000 360,000 Beg. balance 230,000 Ending balance $ 14,000 400,000 Ending balance $ 25,000 Finished Goods Inventory Direct Labor $225,000 $230,000 Beg. balance $ 98,000 Ending balance $ 5,000 Ending balance $110,000 Cost of Goods Sold Manufacturing Overhead $400,000 $400,000 a) Purchases of direct material b) The cost of direct material used c) Why does direct labor account has a credit balance of $5000? Explain d) Direct labor costs assigned to production e) The overhead as a percentage of direct labor sts f) Total manufacturing costs charged to the Work in Process Inventory account during the current year