Question

Ty accounts to determine the cost of direct materials purchased during the year. 1 Requirements - X Analyze the inventory accounts to determine: 1. Cost of direct materials purchased during the year. 2. Cost of goods manufactured for the year. 3. Cost of goods sold for the year. Print Done s and then click Check Answer Clear All Check

Answer 1

D Ε Requirement - 1 Direct Materials Direct Materials Used Beginning Direct Materials Ending Direct Materials Purchases $ 2,400,000 $ (800,000) $ 600,000 $ 2,200,000 1 Question 2 Total Manufacturing Costs $23,900,000 3 Direct Materials Used $ 2,400,000 4 Direct Labour $ 16,800,000 5 Other Manufacturing costs $ 4,700,000 6 Beginning Balances 7 Direct Materials $ 800,000 8 Work-in-Process $ 900,000 9 Finished Goods $ 1,000,000 10 Ending Balances 11 Direct Materials $ 600,000 12 Work-in-Process $ 1,400,000 13 Finished Goods $ 1,010,000 Requirement - 2 Work - in - Process Beginning Work-in-process $ 900,000 Total Manufacturing Costs $23,900,000 Ending Work-in-process $(1,400,000) Cost of Goods Manufactured $23,400,000 15 16 17 18 19 Requirement - 3 Finished Goods Beginning Finished Goods Cost of Goods Manufactured Ending Finished Goods Purchases $ 1,000,000 $23,400,000 $ (1,010,000) $23,390,000

Requirement - 1 Direct Materials Direct Materials Used =B3 Beginning Direct Materials =-B7 Ending Direct Materials =B11 Purchases =SUM(E3:15) А 1 Question 2 Total Manufacturing Costs 23900000 3 Direct Materials Used 2400000 4. Direct Labour 16800000 5 Other Manufacturing costs =B2-B3-B4 6 Beginning Balances 7 Direct Materials 800000 8 Work-in-Process 900000 9 Finished Goods 1000000 Ending Balances 11 Direct Materials 600000 12 Work-in-Process 1400000 13 Finished Goods 1010000 14 15 16 10 Requirement - 2 Work - in - Process Beginning Work-in-process_l=B8 Total Manufacturing Costs =B2 Ending Work-in-process =-B12 Cost of Goods Manufactured =SUME 10:E12) 17 18 Requirement - 3 Finished Goods Beginning Finished Goods =B9 Cost of Goods Manufactured =E13 Ending Finished Goods =-B13 Purchases =SUM(E17:E19) | 19 20 21

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