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1) During the year, MSU purchased materials costing $40,000 and incurred direct labor cost of $15,000....
5) MSU manufactures and sells toy gyroscopes. The following data is related to sales and production...
5) MSU manufactures and sells toy gyroscopes. The following data is related to sales and production of the toy gyroscopes for last year. $8.00 $ 1.83 Selling price per unit Variable manufacturing costs per unit Variable selling and administrative expenses per unit Fixed manufacturing overhead (in total) Fixed selling and administrative expenses (in total) Units produced during the year Units sold during the year $ 75,000 $ 80,000 500,000 150,000 Using variable costing, what is the operating income for last...
During the year, a company purchased raw materials of $77,322, and incurred direct labor costs of...
During the year, a company purchased raw materials of $77,322, and incurred direct labor costs of $126,100. Overhead is applied at the rate of 70% of the direct labor cost. The are the inventory balances: Beginning Ending Raw materials inventory $17,435 $16,428 Work in process inventory 241,438 234,425 Finished goods Inventory 312.842 342,386 Compute the cost of materials used in production, the cost of goods manufactured, and the cost of goods sold. Cost of materials used in productions Cost of...
Cost of Goods Sold In September, Lauren Ashley Company purchased materials costing $190,000 and incurred direct...
Cost of Goods Sold In September, Lauren Ashley Company purchased materials costing $190,000 and incurred direct labor cost of $110,000. Overhead totaled $400,000 for the month. Information on inventories was as follows: September 1 September 30 Materials $120,000 80,000 $130,000 90,000 Work in process Finished goods 70,000 65,000 Required: What was the cost of goods sold for September?
Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred Factory overhead incurred Cost...
Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred Factory overhead incurred Cost of goods completed Cost of goods sold Beginning direct materials inventory Beginning WIP inventory Beginning finished goods inventory Overhead application rate, as a percent of direct - labor costs $152,000 85,000 127,000 148,000 286.000 259,000 35,000 65,000 53,000 140 percent The ending balance of work-in-process inventory is O A. $413,000 O B. $454,800 OC. $168,800 OD. $127,000
the product costs for the direct materials, direct labor, and overhead. Then the period costs for...
the
product costs for the direct materials, direct labor, and overhead.
Then the period costs for selling and admin. Then the totals
highlighted in yellow and the total manufacturing costs. also the
cost per table
Home Insert Draw Page Layout Formulas Data Review View Lucopy Calibri (tody 11A A | A6 : x x 1 ACCT 301 Week 6 W Costs for 500 tables Ind i scred during the Raw materials a re inte Costurando Sellings Dired later incurred during...
During its first year of operations, Brown Company incurred the following product costs: Direct materials used...
During its first year of operations, Brown Company incurred the following product costs: Direct materials used in production $200,000; Direct labor $175,000; and Manufacturing overhead $145,500. The Brown Company's ending Work in Process Inventory amounted to $35,000 at the end of the year. What is the company's cost of finished goods manufactured for the year? a. $375,000 b. $200,000 c. $485,500 d. $520,500 2. Within the relevant range, fixed costs: a. Remain steady when sales volume changes. b. Rise as...
Direct Materials Used, Cost of Goods Manufactured In September, Lauren Ashley Company purchased materials costing $200,000...
Direct Materials Used, Cost of Goods Manufactured In September, Lauren Ashley Company purchased materials costing $200,000 and incurred direct labor cost of $140,000. Overhead totaled $380,000 for the month. Information on inventories was as follows: September 1 September 30 Materials $150,000 $130,000 Work in process $90,000 $70,000 Finished goods $80,000 $80,000 Required: 1. What was the cost of direct materials used in September? 2. What was the total manufacturing cost in September? 3. What was the cost of goods manufactured...
In July, Noel & Vang Company purchased materials costing $23,100 and incurred direct labor cost of...
In July, Noel & Vang Company purchased materials costing $23,100 and incurred direct labor cost of $19,800. Manufacturing overhead totaled $35,200 for the month. Information on inventories was as follows: July 1 July 31 Materials $6,820 $7,810 Work in process 770 1,320 Finished goods 3,630 2,970 If Noel & Vang Company sold 10,300 units during July and its gross margin totaled $32,780, what was the sales price per unit? (Note: Round answer to two decimal places.) a.$9.94 b.$10.09 c.$10.11 d.$10.68
Allen Company used $71,000 of direct materials and incurred $37,000 of direct labor costs during the...
Allen Company used $71,000 of direct materials and incurred $37,000 of direct labor costs during the current year. Indirect labor amounted to $2,700 while indirect materials used totaled $1,600. Other operating costs pertaining to the factory included utilities of $3,100, maintenance of $4,500, supplies of $1,800, depreciation of $7,900, and property taxes of $2,600. There was no beginning or ending finished goods inventory, but work in process Inventory began the year with a $5,500 balance and ended the year with...
Sandpaper $17,000 Direct Labor 680,000 Small tools 100,000 Materials inventory, Jan 1 120,000 Materials inventory, Dec...
Sandpaper $17,000 Direct Labor 680,000 Small tools 100,000 Materials inventory, Jan 1 120,000 Materials inventory, Dec 31 86,000 Materials purchased 980,000 Machine helpers salaries 86,000 finished goods Jan 1 210,000 finished goods dec 31 400,000 sales 4,000,000 leasing costs, plant 120,000 work in process jan 1 30,00 work in process dec 31 20,000 depreciation, plant 70,000 sales commission 200,000 property taxes, plant 10,000 insurance, factory equipment 5,000 sales salaries 180,000 advertising costs 150,000 office administration costs 250,000 units completed 82,000...
5) MSU manufactures and sells toy gyroscopes. The following data is related to sales and production of the toy gyroscopes for last year. $8.00 $ 1.83 Selling price per unit Variable manufacturing costs per unit Variable selling and administrative expenses per unit Fixed manufacturing overhead (in total) Fixed selling and administrative expenses (in total) Units produced during the year Units sold during the year $ 75,000 $ 80,000 500,000 150,000 Using variable costing, what is the operating income for last...
During the year, a company purchased raw materials of $77,322, and incurred direct labor costs of $126,100. Overhead is applied at the rate of 70% of the direct labor cost. The are the inventory balances: Beginning Ending Raw materials inventory $17,435 $16,428 Work in process inventory 241,438 234,425 Finished goods Inventory 312.842 342,386 Compute the cost of materials used in production, the cost of goods manufactured, and the cost of goods sold. Cost of materials used in productions Cost of...
Cost of Goods Sold In September, Lauren Ashley Company purchased materials costing $190,000 and incurred direct labor cost of $110,000. Overhead totaled $400,000 for the month. Information on inventories was as follows: September 1 September 30 Materials $120,000 80,000 $130,000 90,000 Work in process Finished goods 70,000 65,000 Required: What was the cost of goods sold for September?
Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred Factory overhead incurred Cost of goods completed Cost of goods sold Beginning direct materials inventory Beginning WIP inventory Beginning finished goods inventory Overhead application rate, as a percent of direct - labor costs $152,000 85,000 127,000 148,000 286.000 259,000 35,000 65,000 53,000 140 percent The ending balance of work-in-process inventory is O A. $413,000 O B. $454,800 OC. $168,800 OD. $127,000
the
product costs for the direct materials, direct labor, and overhead.
Then the period costs for selling and admin. Then the totals
highlighted in yellow and the total manufacturing costs. also the
cost per table
Home Insert Draw Page Layout Formulas Data Review View Lucopy Calibri (tody 11A A | A6 : x x 1 ACCT 301 Week 6 W Costs for 500 tables Ind i scred during the Raw materials a re inte Costurando Sellings Dired later incurred during...
Direct Materials Used, Cost of Goods Manufactured In September, Lauren Ashley Company purchased materials costing $200,000 and incurred direct labor cost of $140,000. Overhead totaled $380,000 for the month. Information on inventories was as follows: September 1 September 30 Materials $150,000 $130,000 Work in process $90,000 $70,000 Finished goods $80,000 $80,000 Required: 1. What was the cost of direct materials used in September? 2. What was the total manufacturing cost in September? 3. What was the cost of goods manufactured...
Allen Company used $71,000 of direct materials and incurred $37,000 of direct labor costs during the current year. Indirect labor amounted to $2,700 while indirect materials used totaled $1,600. Other operating costs pertaining to the factory included utilities of $3,100, maintenance of $4,500, supplies of $1,800, depreciation of $7,900, and property taxes of $2,600. There was no beginning or ending finished goods inventory, but work in process Inventory began the year with a $5,500 balance and ended the year with...
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