Question

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

Answer 1

Direct Materials Used 41.500S 78,000 $ 59,000 $ 158,700 Direct labor Used 65,000 S 76,000$ 139,000 $ Factory Overhead Total Manufacturing Cost 52,200 $ 143,000 $ 297,000 113,000 $ 311,000 $ Working Notes: 1 Total Manufacturing Cost = Direct Materials used + direct labor used + Total Manufacturing cost = $415,500+$65,000+$52,200 = $158.700 2 Total Manufacturing Cost = Direct Materials used + direct labor used + Total Manufacturing cost $297,000 = Direct Materials Used +$76,000+$143,000 Direct Materials used = $297,000-$76,000-$143.000 = $78.000 3 Total Manufacturing Cost = Direct Materials used + direct labor used + Total Manufacturing cost $311,000 = $59,000 + Direct labor used + $113,000 Direct labor used = $311,000-$59,000-$113,000 = $139,000

IS Total Manufacturing Costs Work In Process (January 1) Work In process (December 31) Cost of Goods Manufactured 158,700 S 124,000 S 85,900 $ 196,800 297,000 $ 125,500S 98,700S 323.800 311,000S 465,000 $ 57,000 S 719,000 Working Notes: 1 Cost of Goods Manufactured = Total manufacturing Cost + Work In process(January 1) - Work In process (december 31) = $158.700+$124,000-$85,900 = $196,800 2 Cost of Goods Manufactured = Total manufacturing Cost + Work In process(January 1) - Work In process (december 31) $323.800 = $297,000+ Work in Process (January 1) - $98,700 Work in process (January 1) = $323,800+$98.700-$297,000 = $125,500 3 Cost of Goods Manufactured = Total manufacturing Cost + Work In process(January 1) - Work In process (december 31) S719,000 = $311,000+S465,000 - Work In process (december 31) Work In process (december 31) = $311,000+S465,000-$719,000 = $57,000