Homework Answers
Cost of raw materials used = Beginning raw materials inventory +
Raw material purchases - Ending raw materials inventory
Cost of raw materials used = $40,000 + $260,000 - $19,000
Cost of raw materials used = $281,000
Factory overhead = Depreciation, building and equipment +
Insurance on plant + Repairs and maintenance, plant + Indirect
labor
Factory overhead = $20,000 + $15,000 + $10,000 + $66,000
Factory overhead = $111,000
Manufacturing cost = Cost of materials used + Direct labor +
Factory overhead
Manufacturing cost = $281,000 + $200,000 + $111,000
Manufacturing cost = $592,000
Cost per unit = Manufacturing cost / Units produced
Cost per unit = $592,000 / 7,000
Cost per unit = $84.57
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Co. has the following activity for their most recent year when 7.000 units were made: Raw...
Knot Co. has the following activity for their most recent year when 7.000 units were made:...
Knot Co. has the following activity for their most recent year when 7.000 units were made: Raw Materials: Beginning 40,000.00 Ending 19,000.00 Work in Process: Beginning 90,000.00 Ending 70,000.00 Finished Goods Inventory: Beginning 26,100.00 Ending 52,200.00 Depreciation, building & equipment Raw material purchases 20,000.00 210,000.00 15,000.00 Insurance on plant Sales salaries Repairs & Maintenance, plant Indirect 40,000.00 10,000.00 66,000.00 200,000.00 Administrative expenses 100,000.00 What is the cost of Goods Sold? Respond without commas or dollar signs, rounded to whole numbers...
Knot Co. has the following activity for their most recent year when 6,000 units were made:...
Knot Co. has the following activity for their most recent year when 6,000 units were made: Raw Materials: Beginning 40,000.00 Ending 19,000.00 Work in Process: Beginning 90,000.00 Ending 70,000.00 Finished Goods Inventory: Beginning 26,100.00 Ending 52,200.00 Depreciation, building & equipment 20,000.00 Raw material purchases 240,000.00 15,000.00 40,000.00 Insurance on plant Sales salaries Repairs & Maintenance, plant Indirect labor Direct labor 10,000.00 66,000.00 200,000.00 Administrative expenses 100,000.00 What is the Cost of Goods Sold?
Knot Co. has the following activity for their most recent year when 4,000 units were made:...
Knot Co. has the following activity for their most recent year when 4,000 units were made: Raw Materials: Beginning 40,000.00 Ending 19,000.00 Work in Process: Beginning 90,000.00 Ending 70,000.00 Finished Goods Inventory: Beginning 26,100.00 $ 52,200.00 Ending $ purchases $ Depreciation, building & equipment 20,000.00 Raw material purchases 290,000.00 Insurance on plant 15,000.00 Sales salaries 40,000.00 Repairs & Maintenance, plant 10,000.00 Indirect labor 66.000.00 Direct labor 200,000.00 Administrative expenses 100,000.00 What is the Cost Per Unit? Respond without commas or...
Knot Co. has the following activity for their most recent year when 4,000 units were made:...
Knot Co. has the following activity for their most recent year when 4,000 units were made: Raw Materials: Beginning 40,000.00 Ending 19,000.00 Work in Process: Beginning 90,000.00 Ending 70,000.00 Finished Goods Inventory: Beginning 26,100.00 Ending 52,200.00 Depreciation, building & equipment 20,000.00 Raw material purchases 320,000.00 15,000.00 40,000.00 Insurance on plant Sales salaries Repairs & Maintenance, plant Indirect labor Direct labor 10,000.00 66.000.00 200,000.00 Administrative expenses 100,000.00 What is the Cost Per Unit
Knot Co. has the following activity for their most recent year when 4,000 units were made:...
Knot Co. has the following activity for their most recent year when 4,000 units were made: Raw Materials: 2$ 40,000.00 2$ 19,000.00 Beginning Ending Work in Process: %24 90,000.00 24 70,000.00 Beginning Ending Finished Goods Inventory: Beginning 26,100.00 24 52,200.00 Ending 2$ Depreciation, building & equipment 20,000.00 %24 200,000.00 %24 15,000.00 2$ Raw material purchases Insurance on plant Sales salaries 40,000.00 2$ 10,000.00 2$ 66,000.00 24 200,000.00 24 200,000.00 Repairs & Maintenance, plant Indirect labor Direct labor Administrative expenses What...
Knot Co. has the following activity for their most recent year when 4,000 units were made:...
Knot Co. has the following activity for their most recent year when 4,000 units were made: Raw Materials: Beginning 40,000.00 Ending 19.000.00 Work in Process: Beginning 90,000.00 Ending 70,000.00 Finished Goods Inventory: Beginning 26,100.00 Ending 52,200.00 Depreciation, building & equipment 20,000.00 Raw material purchases 110,000.00 Insurance on plant 15.000.00 Sales salaries 40,000.00 Repairs & Maintenance, plant 10,000.00 Indirect labor 66,000.00 Direct labor 200,000.00 Administrative expenses 200,000.00 What is the cost of Goods Manufactured? Respond without commas or dollar signs, rounded...
Henry Co. has the following activity for their most recent year: $ 10,000.00 $ 19,000.00 $33,000.00...
Henry Co. has the following activity for their most recent year: $ 10,000.00 $ 19,000.00 $33,000.00 Direct material used Direct Labor Manufacturing overhead Work in Process: Beginning Ending $ 6,000.00 $ 7,000.00 They made 9,000 units They sold 6,000 units. What is the Cost of Goods Sold? Hint: You must calculate the cost per unit. Do not round until the final computation. Round to the nearest whole dollar and enter without commas or dollar signs.
Henry Co. has the following activity for their most recent year: $ 76,000.00 $ 19,000.00 $...
Henry Co. has the following activity for their most recent year: $ 76,000.00 $ 19,000.00 $ 33,000.00 Direct material used Direct Labor Manufacturing overhead Work in Process: $ 6,000.00 $ 7,000.00 Beginning Ending They made 10,000 units They sold 5,000 units. What is the Cost of Goods Sold? Hint: You must calculate the cost per unit. Do not round until the final computation. Round to the nearest whole dollar and enter without commas or dollar signs.
Prepare the income statement for Clear Bay Company for the most recent year. Use the calculation...
Prepare the income statement for Clear Bay Company for the most recent year. Use the calculation of cost of goods sold, cost of goods manufactured, and the amounts below. Assume that the company sold 33,000 units of its product at a price of $10 each during the year. BE: (Click the icon to view the amounts.) (Click the icon to view the calculation of cost of goods manufactured.) (Click the icon to view the calculation of cost of goods sold.)...
Knot Co. has the following activity for their most recent year when 7.000 units were made: Raw Materials: Beginning 40,000.00 Ending 19,000.00 Work in Process: Beginning 90,000.00 Ending 70,000.00 Finished Goods Inventory: Beginning 26,100.00 Ending 52,200.00 Depreciation, building & equipment Raw material purchases 20,000.00 210,000.00 15,000.00 Insurance on plant Sales salaries Repairs & Maintenance, plant Indirect 40,000.00 10,000.00 66,000.00 200,000.00 Administrative expenses 100,000.00 What is the cost of Goods Sold? Respond without commas or dollar signs, rounded to whole numbers...
Knot Co. has the following activity for their most recent year when 6,000 units were made: Raw Materials: Beginning 40,000.00 Ending 19,000.00 Work in Process: Beginning 90,000.00 Ending 70,000.00 Finished Goods Inventory: Beginning 26,100.00 Ending 52,200.00 Depreciation, building & equipment 20,000.00 Raw material purchases 240,000.00 15,000.00 40,000.00 Insurance on plant Sales salaries Repairs & Maintenance, plant Indirect labor Direct labor 10,000.00 66,000.00 200,000.00 Administrative expenses 100,000.00 What is the Cost of Goods Sold?
Knot Co. has the following activity for their most recent year when 4,000 units were made: Raw Materials: Beginning 40,000.00 Ending 19,000.00 Work in Process: Beginning 90,000.00 Ending 70,000.00 Finished Goods Inventory: Beginning 26,100.00 $ 52,200.00 Ending $ purchases $ Depreciation, building & equipment 20,000.00 Raw material purchases 290,000.00 Insurance on plant 15,000.00 Sales salaries 40,000.00 Repairs & Maintenance, plant 10,000.00 Indirect labor 66.000.00 Direct labor 200,000.00 Administrative expenses 100,000.00 What is the Cost Per Unit? Respond without commas or...
Knot Co. has the following activity for their most recent year when 4,000 units were made: Raw Materials: Beginning 40,000.00 Ending 19,000.00 Work in Process: Beginning 90,000.00 Ending 70,000.00 Finished Goods Inventory: Beginning 26,100.00 Ending 52,200.00 Depreciation, building & equipment 20,000.00 Raw material purchases 320,000.00 15,000.00 40,000.00 Insurance on plant Sales salaries Repairs & Maintenance, plant Indirect labor Direct labor 10,000.00 66.000.00 200,000.00 Administrative expenses 100,000.00 What is the Cost Per Unit
Knot Co. has the following activity for their most recent year when 4,000 units were made: Raw Materials: 2$ 40,000.00 2$ 19,000.00 Beginning Ending Work in Process: %24 90,000.00 24 70,000.00 Beginning Ending Finished Goods Inventory: Beginning 26,100.00 24 52,200.00 Ending 2$ Depreciation, building & equipment 20,000.00 %24 200,000.00 %24 15,000.00 2$ Raw material purchases Insurance on plant Sales salaries 40,000.00 2$ 10,000.00 2$ 66,000.00 24 200,000.00 24 200,000.00 Repairs & Maintenance, plant Indirect labor Direct labor Administrative expenses What...
Knot Co. has the following activity for their most recent year when 4,000 units were made: Raw Materials: Beginning 40,000.00 Ending 19.000.00 Work in Process: Beginning 90,000.00 Ending 70,000.00 Finished Goods Inventory: Beginning 26,100.00 Ending 52,200.00 Depreciation, building & equipment 20,000.00 Raw material purchases 110,000.00 Insurance on plant 15.000.00 Sales salaries 40,000.00 Repairs & Maintenance, plant 10,000.00 Indirect labor 66,000.00 Direct labor 200,000.00 Administrative expenses 200,000.00 What is the cost of Goods Manufactured? Respond without commas or dollar signs, rounded...
Henry Co. has the following activity for their most recent year: $ 10,000.00 $ 19,000.00 $33,000.00 Direct material used Direct Labor Manufacturing overhead Work in Process: Beginning Ending $ 6,000.00 $ 7,000.00 They made 9,000 units They sold 6,000 units. What is the Cost of Goods Sold? Hint: You must calculate the cost per unit. Do not round until the final computation. Round to the nearest whole dollar and enter without commas or dollar signs.
Henry Co. has the following activity for their most recent year: $ 76,000.00 $ 19,000.00 $ 33,000.00 Direct material used Direct Labor Manufacturing overhead Work in Process: $ 6,000.00 $ 7,000.00 Beginning Ending They made 10,000 units They sold 5,000 units. What is the Cost of Goods Sold? Hint: You must calculate the cost per unit. Do not round until the final computation. Round to the nearest whole dollar and enter without commas or dollar signs.
Prepare the income statement for Clear Bay Company for the most recent year. Use the calculation of cost of goods sold, cost of goods manufactured, and the amounts below. Assume that the company sold 33,000 units of its product at a price of $10 each during the year. BE: (Click the icon to view the amounts.) (Click the icon to view the calculation of cost of goods manufactured.) (Click the icon to view the calculation of cost of goods sold.)...
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