Homework Answers
| Particulars | Amount | |
| Direct Material | ||
| Beginning inventory | $15,000 | |
| Add: Purchases | $82,000 | |
| Less: Ending inventory | -$4,000 | |
| Direct materials used | $93,000 | |
| Direct Labor | $26,000 | |
| Manufacturing Overheads | $36,000 | |
| Total Manufacturing Costs | $155,000 |
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Please show all your work. Yr 1. Calculate the total manufacturing costs incurred in 2017 (6...
Direct manufacturing labor costs in 2017 Manufacturing overhead costs in 2017 $4,000 $26,000 $36,000 2. Calculate...
Direct manufacturing labor costs in 2017 Manufacturing overhead costs in 2017 $4,000 $26,000 $36,000 2. Calculate (a) Cost of goods manufactured in 2017 and (b) Cost of goods sold in 2017. (12 points) Beginning work-in-process inventory, 1/1/2017 Total manufacturing costs incurred in 2017 Ending work-in-process inventory, 12/31/2017 Beginning inventory of finished goods, 1/1/2017 Ending inventory of finished goods, 12/31/2017 $12,000 $164,000 $10,000 $13,000 $17,000 3. How many units would have to be sold to yield a target operating income of...
ALASKA MANUFACTURING ……. began its first year of operations on January 1, 2018. Costs incurred for...
ALASKA MANUFACTURING ……. began its first year of operations on January 1, 2018. Costs incurred for 2018 were as follows: Direct materials used $147,600 Variable Direct manufacturing labor cots 38,400 Variable Plant energy costs 2,000 Variable Indirect manufacturing labor costs 14,000 Variable Indirect manufacturing labor costs 19,000 Fixed Other indirect production costs 11,000 Variable Other indirect production costs 14,000 Fixed Marketing, distribution and customer-service costs 128,000 Variable Marketing, distribution and customer-service costs 48,000 Fixed Administrative costs 56,000 Fixed Variable manufacturing...
ALASKA MANUFACTURING began its first year of operations on January 1, 2018. Costs incurred for 2018...
ALASKA MANUFACTURING began its first year of operations on January 1, 2018. Costs incurred for 2018 were as follows: $147,600 Variable Direct materials used Direct manufacturing labor cots 38,400 Variable Plant energy costs 2,000 Variable Indirect manufacturing labor costs 14,000 Variable Indirect manufacturing labor costs Other indirect production costs 19,000 Fixed 11,000 Variable Other indirect production costs 14,000 Fixed Marketing, distribution and customer-service costs 128,000 Variable Marketing, distribution and customer-service costs 48,000 Fixed 56,000 Fixed Administrative costs Variable manufacturing costs...
Best Shoe Company makes loafers. During the most recent year, Best incurred total manufacturing costs of...
Best Shoe Company makes loafers. During the most recent year, Best incurred total manufacturing costs of $24,100,000. Of this amount, $1,900,000 was direct materials used and $17,800,000 was direct labor. Beginning balances for the year were Direct Materials, $800,000; Work-in-Process Inventory, $1,400,000; and Finished Goods Inventory, $1,200,000. At the end of the year, balances were Direct Materials, $900,000; Work-in-Process Inventory, $1,300,000; and Finished Goods Inventory, $1,210,000 Read the requirements. Requirement 1. Analyze the inventory accounts to determine the cost of...
Atlanta Office Equipment manufactures and sells metal shelving. It began operations on January 1, 2017. Costs...
Atlanta Office Equipment manufactures and sells metal shelving. It began operations on January 1, 2017. Costs incurred for 2017 are as follows (V stands for variable; F stands for fixed): Direct materials used $144,000 V Direct manufacturing labor costs 46,000 V Plant energy costs 3,000 V Indirect manufacturing labor costs 15,000 V Indirect manufacturing labor costs 17,000 F Other indirect manufacturing costs 6,000 V Other indirect manufacturing costs 21,000 F Marketing, distribution, and customer-service costs 124,000 V Marketing, distribution, and...
Root Shoe Company makes loafers. During the host recent year, Root incurred total manufacturing costs of...
Root Shoe Company makes loafers. During the host recent year, Root incurred total manufacturing costs of $26,300,000. Of this amount. $2,000,000 was direct materials used and $19,800,000 was direct labor. Beginning balances for the year were Direct Materials, S700,000; Work-in-Process Inventory: $1,500,000, and Finished Goods Inventory. $400,000. At the end of the year, balances were Direct Materials, $800,000; Work-in-Process Inventory, $1,200,000, and Finished Goods Inventory, $600,000 Read the requirements Requirement 1. Analyze the inventory accounts to determine the cost of...
Root Shoe Company makes loafers. During the most recent year, Root incurred total manufacturing costs of...
Root Shoe Company makes loafers. During the most recent year, Root incurred total manufacturing costs of $26,300,000. Of this amount, $2,000,000 was direct materials used and $19,800,000 was direct labor. Beginning balances for the year were Direct Materials, $700,000; Work-in-Process Inventory, $1,500,000; and Finished Goods Inventory, $400,000. At the end of the year, balances were Direct Materials, $800,000; Work-in-Process Inventory, $1,200,000; and Finished Goods Inventory, $600,000. Read the requirements. Ending Direct Materials 800,000 $ 2,100,000 Purchases Requirement 2. Analyze the...
n West Shoo makes loafers. During the most recent year, West incurred total manufacturing costs of...
n West Shoo makes loafers. During the most recent year, West incurred total manufacturing costs of $24.200,000. Of this amount, $1,800,000 was direct k-in-Process Inventory, $900,000, and Finished balances for the year were Direct Materials,$700,000, Wor Goods Inventory, $1,100,000 At the end of the year, balances were Direct Materials, $900,000, Work-in-Process Inventory, $1,700,000, and Finished Goods Inventory $480,000 est Shoe Company makes loafers. During the most recent year, West incurred total manufacturing costs of $24.200,000. Of this amount, $1,800,000 was...
Explain how other manufacturing costs are found. Complete the problem Direct materials inventory Work-in-process inventory Finished...
Explain how other manufacturing costs are found. Complete the
problem
Direct materials inventory Work-in-process inventory Finished goods inventory January 1 (Beginning) $ 22,200 32,500 5,400 December 31 (Ending) $ 24,800 29,100 7,500 Direct materials used during the year amount to $45,800 and the cost of goods sold for the year was $52.900. Required: Prepare a cost of goods sold statement. Answer is not complete. || 32,500 TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Beginning...
Manufacturing costs for Davenport Company during 2018 were as follows: Beginning Finished Goods, 1/1/18 $ 24,900...
Manufacturing costs for Davenport Company during 2018 were as follows: Beginning Finished Goods, 1/1/18 $ 24,900 Beginning Raw Materials, 1/1/18 36,300 Beginning Work in Process, 1/1/18 111,100 Direct Labor for 2018 276,100 Ending Finished Goods, 12/31/18 23,200 Ending Raw Materials, 12/31/18 40,650 Ending Work in Process, 12/31/18 121,400 Material Purchases for 2018 305,000 (including $19,000 of indirect material) Required: 1. Compute direct material used. 2. Compute applied overhead if the company applies overhead at a rate of 0.83 (83%) of...
Direct manufacturing labor costs in 2017 Manufacturing overhead costs in 2017 $4,000 $26,000 $36,000 2. Calculate (a) Cost of goods manufactured in 2017 and (b) Cost of goods sold in 2017. (12 points) Beginning work-in-process inventory, 1/1/2017 Total manufacturing costs incurred in 2017 Ending work-in-process inventory, 12/31/2017 Beginning inventory of finished goods, 1/1/2017 Ending inventory of finished goods, 12/31/2017 $12,000 $164,000 $10,000 $13,000 $17,000 3. How many units would have to be sold to yield a target operating income of...
ALASKA MANUFACTURING began its first year of operations on January 1, 2018. Costs incurred for 2018 were as follows: $147,600 Variable Direct materials used Direct manufacturing labor cots 38,400 Variable Plant energy costs 2,000 Variable Indirect manufacturing labor costs 14,000 Variable Indirect manufacturing labor costs Other indirect production costs 19,000 Fixed 11,000 Variable Other indirect production costs 14,000 Fixed Marketing, distribution and customer-service costs 128,000 Variable Marketing, distribution and customer-service costs 48,000 Fixed 56,000 Fixed Administrative costs Variable manufacturing costs...
Best Shoe Company makes loafers. During the most recent year, Best incurred total manufacturing costs of $24,100,000. Of this amount, $1,900,000 was direct materials used and $17,800,000 was direct labor. Beginning balances for the year were Direct Materials, $800,000; Work-in-Process Inventory, $1,400,000; and Finished Goods Inventory, $1,200,000. At the end of the year, balances were Direct Materials, $900,000; Work-in-Process Inventory, $1,300,000; and Finished Goods Inventory, $1,210,000 Read the requirements. Requirement 1. Analyze the inventory accounts to determine the cost of...
Root Shoe Company makes loafers. During the host recent year, Root incurred total manufacturing costs of $26,300,000. Of this amount. $2,000,000 was direct materials used and $19,800,000 was direct labor. Beginning balances for the year were Direct Materials, S700,000; Work-in-Process Inventory: $1,500,000, and Finished Goods Inventory. $400,000. At the end of the year, balances were Direct Materials, $800,000; Work-in-Process Inventory, $1,200,000, and Finished Goods Inventory, $600,000 Read the requirements Requirement 1. Analyze the inventory accounts to determine the cost of...
Root Shoe Company makes loafers. During the most recent year, Root incurred total manufacturing costs of $26,300,000. Of this amount, $2,000,000 was direct materials used and $19,800,000 was direct labor. Beginning balances for the year were Direct Materials, $700,000; Work-in-Process Inventory, $1,500,000; and Finished Goods Inventory, $400,000. At the end of the year, balances were Direct Materials, $800,000; Work-in-Process Inventory, $1,200,000; and Finished Goods Inventory, $600,000. Read the requirements. Ending Direct Materials 800,000 $ 2,100,000 Purchases Requirement 2. Analyze the...
n West Shoo makes loafers. During the most recent year, West incurred total manufacturing costs of $24.200,000. Of this amount, $1,800,000 was direct k-in-Process Inventory, $900,000, and Finished balances for the year were Direct Materials,$700,000, Wor Goods Inventory, $1,100,000 At the end of the year, balances were Direct Materials, $900,000, Work-in-Process Inventory, $1,700,000, and Finished Goods Inventory $480,000 est Shoe Company makes loafers. During the most recent year, West incurred total manufacturing costs of $24.200,000. Of this amount, $1,800,000 was...
Explain how other manufacturing costs are found. Complete the
problem
Direct materials inventory Work-in-process inventory Finished goods inventory January 1 (Beginning) $ 22,200 32,500 5,400 December 31 (Ending) $ 24,800 29,100 7,500 Direct materials used during the year amount to $45,800 and the cost of goods sold for the year was $52.900. Required: Prepare a cost of goods sold statement. Answer is not complete. || 32,500 TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Beginning...
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