Homework Answers
| Raw Material | |||
| Bal 1/1 | 25000 | Credit | 130000 |
| Debit | 140000 | ||
| Bal 12/31 | 35000 | ||
| 1. Raw Material used in Production will be $130000 |
| 2. Total Raw Material consumed- Raw material consumed as direct material |
| $130000-100000= $30000. Hence $30000 would be Raw material cnsumed as indirect material |
| 3. amount of indrect labour in the factory labour cost = Factory wages payable credited - Direct Labour In WIP |
| =$200000-$180000= $20000 |
| 4. Cost of Goods Manufactured=WIP Traasferred/ Credited |
| = $500000 |
| 5. Cost of Goods Sold= Bal of finished good at the beginning + Cost of Good manufactured for the year- Bal of finished goods at the end |
| = $50000+$500000-75000= $475000 |
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Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter...
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sequential processes:
Cutting and Stitching. All direct materials enter production at
the
beginning of the Cutting process. The following information
is
available regarding its May inventories:
please help
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the
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is
available regarding its May inventories:
please help
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