Homework Answers
Ans:
|
Particulars |
|
Amount ($) |
|
Materials used in product |
129,100 |
|
|
Labor costs of assembly-line workers |
111,300 |
|
|
Factory overheads |
||
|
Depreciation on plant |
64,600 |
|
|
Property taxes on plant |
16,000 |
|
|
Factory supplies used |
28,700 |
109,300 |
|
Add: Beginning Work in progress at January 1st |
14,500 |
|
|
Less: Ending Work in progress at December 31st |
(16,800) |
|
|
Cost of goods manufactured |
$347,400 |
|
|
Cost of goods sold |
||
|
Particulars |
Amount ($) |
|
|
Beginning finished goods |
69,500 |
|
|
Cost of goods manufactured |
347,400 |
|
|
Less : Ending finished goods |
(46,000) |
|
|
Cost of goods sold |
$ 370,900 |
|
Add Answer to:
rcise 14-9 Determine the missing amounts. rcise 14-1 Total Work Work in Process January 1) (December...
(b) Determine the missing amounts. Total Manufacturing Costs Work in Process (January 1) Work in Process...
(b) Determine the missing amounts. Total Manufacturing Costs Work in Process (January 1) Work in Process (December 31) $86,000 $ Cost of Goods Manufactured = $124,000 $98,600 $323,900 $300,000 $ $314,000 $465,000 $ $716,000 Save for Later
Determine the missing amounts. Total Manufacturing Costs Work in Process (January 1) Work in Process (December...
Determine the missing amounts.
Total
Manufacturing
Costs
Work
in Process
(January 1)
Work
in Process
(December 31)
Cost of
Goods
Manufactured
(1)
$
$124,000
$84,500
$
(2)
$297,000
$
$99,300
$322,700
(3)
$314,000
$464,000
$
$718,000
Brief Exercise 14-10 Presented below are incomplete manufacturing cost data. Determine the missing amounts for three...
Brief Exercise 14-10
Presented below are incomplete manufacturing cost data.
Determine the missing amounts for three different situations.
Direct
Materials
Used
Direct
Labor
Used
Factory
Overhead
Total
Manufacturing
Costs
(1)
$41,900
$62,500
$52,900
$
(2)
$
$76,000
$144,000
$300,000
(3)
$57,400
$
$115,000
$312,000
Determine the missing amounts.
Total
Manufacturing
Costs
Work
in Process
(January 1)
Work
in Process
(December 31)
Cost of
Goods
Manufactured
(1)
$
$122,000
$84,300
$
(2)
$300,000
$
$98,500
$324,500
(3)
$312,000
$467,000
$
$719,000
Brief Exercise 1-10 Presented below are incomplete manufacturing cost data. Determine the missing amounts for three...
Brief Exercise 1-10 Presented below are incomplete manufacturing cost data. Determine the missing amounts for three different situations. Direct Materials Used Direct Labor Used Total Manufacturing Costs $41,500 (1) (2) s (3) $65,000 $76,000 Factory Overhead $52,200 $143,000 $297,000 $59,000 $ $113,000 $311,000 LINK TO TEXT Determine the missing amounts. Total Manufacturing Costs Work in Process (January 1) $124,000 Cost of Goods Manufactured Work in Process (December 31) $85,900 $98,700 $323,800 $297,000 $ $311,000 $465,000 $719,000
1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as...
1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers. Letter Off Company On Company 319,410 x $ 2. Prepare On Company's statement of cost of goods manufactured for December. On Company Statement of Cost of Goods Manufactured For the Month Ended December 31 Work in process inventory, December 1 $ 173,240 Direct materials: Materials inventory, December 1 Purchases Cost of materials available for use Materials inventory, December 31 Cost of direct...
The following balances are from the accounts of Crabtree Machining Company Direct materials inventory Work-in-process inventory...
The following balances are from the accounts of Crabtree Machining Company Direct materials inventory Work-in-process inventory Finished goods inventory January 1 (Beginning) $ 98,600 109,300 42,300 December 31 (Ending) $ 109,500 107,400 45,100 Direct materials purchased during the year amount to $514,200, and the cost of goods sold for the year was $1,865,000 Required: Prepare a cost of goods sold statement. $ 109,300 CRABTREE MACHINING COMPANY Cost of Goods Sold Statement For the Year Ended December 31 Beginning work-in-process inventory...
Exercise 14-08 Lopez Corporation incurred the following costs while manufacturing its product. Materials used in product...
Exercise 14-08
Lopez Corporation incurred the following costs while manufacturing
its product.
Materials used in product
$128,200
Advertising expense
$47,700
Depreciation on plant
64,500
Property taxes on plant
22,300
Property taxes on store
8,540
Delivery expense
27,800
Labor costs of assembly-line workers
119,000
Sales commissions
38,900
Factory supplies used
33,500
Salaries paid to sales clerks
58,000
Work in process inventory was $13,500 at January 1 and $17,200 at
December 31. Finished goods inventory was $68,400 at January 1 and
$47,700...
ods Manufactured nber 31, 2019 ns) Direct Materials, January 1 Direct Materials, December 31 Work-in-Process Inventory,...
ods Manufactured nber 31, 2019 ns) Direct Materials, January 1 Direct Materials, December 31 Work-in-Process Inventory, January 1 Work-in-Process Inventory, December 31 Finished Goods Inventory, January 1 Finished Goods Inventory, December 31 Direct Materials Purchased, including Freight In Direct Labor Manufacturing Overhead Print Done elds and then continue to the next question. 12. QRS Manufacturing Company has the following data for 2019 (amounts in milions): Click the icon to view the information) Prepare the schedule of cost of goods manufactured...
Question 20 Glavine Corporation incurred the following costs while manufacturing its product. Materials used in product...
Question 20 Glavine Corporation incurred the following costs while manufacturing its product. Materials used in product Depreciation on plant Property taxes on store Labor costs of assembly-line workers Factory supplies used Advertising expense Property taxes on plant Delivery expense Sales commissions Salaries paid to sales clerks $125,000 60,000 7,500 110,000 23,000 45,000 19,000 21,000 35,000 50,000 Work-in-process inventory was $27,000 at January 1 and $15,500 at December 31. Finished goods inventory was $65,000 at January 1 and $50,600 at December...
Exercise 10-8 (Part Level Submission) Lopez Corporation incurred the following costs while manufacturing its product. Materials...
Exercise 10-8 (Part Level Submission) Lopez Corporation incurred the following costs while manufacturing its product. Materials used in product Depreciation on plant Property taxes on store Labor costs of assembly-line workers Factory supplies used $120,000 Advertising expense 60,000 Property taxes on plant 7,500 Delivery expense 110,000 Sales commissions 23,000 Salaries paid to sales clerks $45,000 14.000 21,000 35,000 50,000 Work in process inventory was $12,000 at January 1 and $15,500 at December 31. Finished goods inventory was $60,000 at January...
(b) Determine the missing amounts. Total Manufacturing Costs Work in Process (January 1) Work in Process (December 31) $86,000 $ Cost of Goods Manufactured = $124,000 $98,600 $323,900 $300,000 $ $314,000 $465,000 $ $716,000 Save for Later
Determine the missing amounts.
Total
Manufacturing
Costs
Work
in Process
(January 1)
Work
in Process
(December 31)
Cost of
Goods
Manufactured
(1)
$
$124,000
$84,500
$
(2)
$297,000
$
$99,300
$322,700
(3)
$314,000
$464,000
$
$718,000
Brief Exercise 14-10
Presented below are incomplete manufacturing cost data.
Determine the missing amounts for three different situations.
Direct
Materials
Used
Direct
Labor
Used
Factory
Overhead
Total
Manufacturing
Costs
(1)
$41,900
$62,500
$52,900
$
(2)
$
$76,000
$144,000
$300,000
(3)
$57,400
$
$115,000
$312,000
Determine the missing amounts.
Total
Manufacturing
Costs
Work
in Process
(January 1)
Work
in Process
(December 31)
Cost of
Goods
Manufactured
(1)
$
$122,000
$84,300
$
(2)
$300,000
$
$98,500
$324,500
(3)
$312,000
$467,000
$
$719,000
Brief Exercise 1-10 Presented below are incomplete manufacturing cost data. Determine the missing amounts for three different situations. Direct Materials Used Direct Labor Used Total Manufacturing Costs $41,500 (1) (2) s (3) $65,000 $76,000 Factory Overhead $52,200 $143,000 $297,000 $59,000 $ $113,000 $311,000 LINK TO TEXT Determine the missing amounts. Total Manufacturing Costs Work in Process (January 1) $124,000 Cost of Goods Manufactured Work in Process (December 31) $85,900 $98,700 $323,800 $297,000 $ $311,000 $465,000 $719,000
1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers. Letter Off Company On Company 319,410 x $ 2. Prepare On Company's statement of cost of goods manufactured for December. On Company Statement of Cost of Goods Manufactured For the Month Ended December 31 Work in process inventory, December 1 $ 173,240 Direct materials: Materials inventory, December 1 Purchases Cost of materials available for use Materials inventory, December 31 Cost of direct...
The following balances are from the accounts of Crabtree Machining Company Direct materials inventory Work-in-process inventory Finished goods inventory January 1 (Beginning) $ 98,600 109,300 42,300 December 31 (Ending) $ 109,500 107,400 45,100 Direct materials purchased during the year amount to $514,200, and the cost of goods sold for the year was $1,865,000 Required: Prepare a cost of goods sold statement. $ 109,300 CRABTREE MACHINING COMPANY Cost of Goods Sold Statement For the Year Ended December 31 Beginning work-in-process inventory...
Exercise 14-08
Lopez Corporation incurred the following costs while manufacturing
its product.
Materials used in product
$128,200
Advertising expense
$47,700
Depreciation on plant
64,500
Property taxes on plant
22,300
Property taxes on store
8,540
Delivery expense
27,800
Labor costs of assembly-line workers
119,000
Sales commissions
38,900
Factory supplies used
33,500
Salaries paid to sales clerks
58,000
Work in process inventory was $13,500 at January 1 and $17,200 at
December 31. Finished goods inventory was $68,400 at January 1 and
$47,700...
ods Manufactured nber 31, 2019 ns) Direct Materials, January 1 Direct Materials, December 31 Work-in-Process Inventory, January 1 Work-in-Process Inventory, December 31 Finished Goods Inventory, January 1 Finished Goods Inventory, December 31 Direct Materials Purchased, including Freight In Direct Labor Manufacturing Overhead Print Done elds and then continue to the next question. 12. QRS Manufacturing Company has the following data for 2019 (amounts in milions): Click the icon to view the information) Prepare the schedule of cost of goods manufactured...
Question 20 Glavine Corporation incurred the following costs while manufacturing its product. Materials used in product Depreciation on plant Property taxes on store Labor costs of assembly-line workers Factory supplies used Advertising expense Property taxes on plant Delivery expense Sales commissions Salaries paid to sales clerks $125,000 60,000 7,500 110,000 23,000 45,000 19,000 21,000 35,000 50,000 Work-in-process inventory was $27,000 at January 1 and $15,500 at December 31. Finished goods inventory was $65,000 at January 1 and $50,600 at December...
Exercise 10-8 (Part Level Submission) Lopez Corporation incurred the following costs while manufacturing its product. Materials used in product Depreciation on plant Property taxes on store Labor costs of assembly-line workers Factory supplies used $120,000 Advertising expense 60,000 Property taxes on plant 7,500 Delivery expense 110,000 Sales commissions 23,000 Salaries paid to sales clerks $45,000 14.000 21,000 35,000 50,000 Work in process inventory was $12,000 at January 1 and $15,500 at December 31. Finished goods inventory was $60,000 at January...
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