Homework Answers
ANSWER=
OPTION-(D) IS THE CORRECT ANSWER.
Explanation:-
Formula-
Cost of Goods Manufactured(COGM) = Beginning WIP + Current Manufacturing Cost - Closing WIP
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CH2 KB. The cost of goods manufactured is calculated by Beginning FG-Current Manufacturing Costs - Ending...
Ex: Determine the Ending RM Inventory, "Total Manufacturing Costs, COGM, and Ending FG Inv. $1,500,000 COGM...
Ex: Determine the Ending RM Inventory, "Total Manufacturing Costs, COGM, and Ending FG Inv. $1,500,000 COGM Ending FG Inv. 74,000 39,000 198,000 67,000 195,000 101,200 26,000 63,000 Sales. Factory Maintenance..... Indirect Labour... Raw materials purchased. Factory Utilities. Raw materials used in production.... General and administrative expenses... Beginning WIP inventory.... Beginning FG inventory.... Ending WIP inventory.. Beginning RM inventory....... Selling expenses.... Direct labour...... Factory insurance..... Indirect materials... Depreciation, factory.. Cost of goods sold..... 34,000 13,000 97,600 283,000 49,000 37,600 60,000 805,000...
Determine the Ending RM Inventory, Total Manufacturing Costs, COGM, and Ending FG Inventory Sales.. Ending RM...
Determine the Ending RM Inventory, Total Manufacturing Costs, COGM, and Ending FG Inventory Sales.. Ending RM Inv. TMC ...$1,500,000 Factory Maintenance. 74,000 Indirect Labour.... 39,000 Raw materials purchased... 198,000 Factory Utilities... 67,000 Raw materials used in production.. 195,000 General and administrative expenses.... 101,200 Beginning WIP inventory.. 26,000 Beginning FG inventory.. 63,000 Ending WIP inventory........ 34,000 Beginning RM inventory... 13,000 Selling expenses.. 97,600 Direct labour.. 283,000 Factory insurance. 49,000 Indirect materials..... 37,600 Depreciation, factory....... 60,000 Cost of goods sold... 805,000 EUR...
6. Poor Professor Mullen (PPM), Inc. has $20,000 of ending finished goods (EI, FG) inventory as...
6. Poor Professor Mullen (PPM), Inc. has $20,000 of ending finished goods (EI, FG) inventory as of December 31, 2015. If beginning finished goods (BI, FG) inventory was $10,000 and cost of goods sold (CGS) was $40,000, how much would Poor Professor Mullen, Inc report for cost of goods manufactured (CGM) ? A) $45,000 B) $10,000 C) $50,000 D) $30,000 7. Lao Shu Mullen, Inc's accounting records reflect the following inventories: Jan 1, 2015 (BI) $120,000 156,000 150,000 Dec.31, 2015...
Ignore the answer you calculated for cost of goods manufactured in Question 5 and assume the...
Ignore the answer you calculated for cost of goods manufactured in Question 5 and assume the cost of goods manufactured is: $43.000 If the beginning balance of Finished Goods inventory in February is $4.000 and the ending balance of FG is $2,000. what is the cost of goods sold for February
CH2 KB. The cost of goods manufactured can be found as a debit to finished goods...
CH2 KB. The cost of goods manufactured can be found as a debit to finished goods as a credit to work in process as a credit to work in process and as a debit to finished goods. as a debit to work in process
Concord Corporation has beginning and ending work in process inventories of $170000 and $185000 respectively. If...
Concord Corporation has beginning and ending work in process inventories of $170000 and $185000 respectively. If total manufacturing costs are $680000, what is the total cost of goods manufactured? O $850000. O $665000. $865000. $695000. Given the following data for Concord Corporation, compute cost of goods manufactured: Direct materials used $120000 Beginning work in process $20000 Direct labor 100000 Ending work in process 10000 Manufacturing 80000 Beginning finished goods 25000 overhead Operating expenses 75000 Ending finished goods 15000 $300000 $320000...
6. Poor Professor Mullen (PPM) Ine hae $20.000 of ending finished goods (EI, FG) inventory as...
6. Poor Professor Mullen (PPM) Ine hae $20.000 of ending finished goods (EI, FG) inventory as of December 31, 2015. If beginning finished coods (BIFG) inventory was $10,000 and cost of goods sold (CGS) was $40.000, how much would Poor Professor Mullen, Inc report for cost of goods manufactured (CGM)? A) $45,000 B) $10,000 C) $50,000 D) $30,000 7. Lao Shu Mullen, Ine's accounting records reflect the following inventories: -_Jan 1. 2015 (BI) Dec.31. 2015 (ET) Raw materials inventory (RM)...
Costs of goods manufactured of Oriole Company are shown below Oriole Company Cost of Goods manufactured...
Costs of goods manufactured of Oriole Company are shown below Oriole Company Cost of Goods manufactured Year Ending December 31, 2020 Beginning work in process Direct materials: Beginning raw materials Raw material purchases Total raw materials available for use Ending raw materials Direct materials used Direct Labour Total manufacturing overhead Ending work in process Cost of Goods Manufactured $14800 $13800 21800 35600 5400 30200 6300 11000 18200 $44100 How much is the total manufacturing cost?
4) In the Schedule of Cost of Goods Manufactured and Cost of Goods Sold, the cost...
4) In the Schedule of Cost of Goods Manufactured and Cost of Goods Sold, the cost of goods manufactured is computed according to which of the following equations? A) Cost of goods manufactured = Total manufacturing costs + Ending work in process inventory - Beginning work in process inventory B) Cost of goods manufactured = Total manufacturing costs + Beginning work in process inventory - Ending work in process inventory C) Cost of goods manufactured = Total manufacturing costs +...
Prepare the cost of goods manufactured schedule. $ Raw materials purchased Beginning raw materials Direct materials...
Prepare the cost of goods manufactured schedule.
$ Raw materials purchased Beginning raw materials Direct materials used Indirect materials requested Indirect labor Utilities - administration area Utilities - factory area Rent - adminstration Rent - factory Taxes - administration Taxes-factory Other factory Other manufacturing overhead actual Direct labor Manufacturing overhead applied at 150% of direct costs Beginning WIP Ending WIP Beginning finished good Ending finished goods 850 40 750 30 100 90 200 100 200 200 500 500 75 250...
Ex: Determine the Ending RM Inventory, "Total Manufacturing Costs, COGM, and Ending FG Inv. $1,500,000 COGM Ending FG Inv. 74,000 39,000 198,000 67,000 195,000 101,200 26,000 63,000 Sales. Factory Maintenance..... Indirect Labour... Raw materials purchased. Factory Utilities. Raw materials used in production.... General and administrative expenses... Beginning WIP inventory.... Beginning FG inventory.... Ending WIP inventory.. Beginning RM inventory....... Selling expenses.... Direct labour...... Factory insurance..... Indirect materials... Depreciation, factory.. Cost of goods sold..... 34,000 13,000 97,600 283,000 49,000 37,600 60,000 805,000...
Determine the Ending RM Inventory, Total Manufacturing Costs, COGM, and Ending FG Inventory Sales.. Ending RM Inv. TMC ...$1,500,000 Factory Maintenance. 74,000 Indirect Labour.... 39,000 Raw materials purchased... 198,000 Factory Utilities... 67,000 Raw materials used in production.. 195,000 General and administrative expenses.... 101,200 Beginning WIP inventory.. 26,000 Beginning FG inventory.. 63,000 Ending WIP inventory........ 34,000 Beginning RM inventory... 13,000 Selling expenses.. 97,600 Direct labour.. 283,000 Factory insurance. 49,000 Indirect materials..... 37,600 Depreciation, factory....... 60,000 Cost of goods sold... 805,000 EUR...
Ignore the answer you calculated for cost of goods manufactured in Question 5 and assume the cost of goods manufactured is: $43.000 If the beginning balance of Finished Goods inventory in February is $4.000 and the ending balance of FG is $2,000. what is the cost of goods sold for February
CH2 KB. The cost of goods manufactured can be found as a debit to finished goods as a credit to work in process as a credit to work in process and as a debit to finished goods. as a debit to work in process
Concord Corporation has beginning and ending work in process inventories of $170000 and $185000 respectively. If total manufacturing costs are $680000, what is the total cost of goods manufactured? O $850000. O $665000. $865000. $695000. Given the following data for Concord Corporation, compute cost of goods manufactured: Direct materials used $120000 Beginning work in process $20000 Direct labor 100000 Ending work in process 10000 Manufacturing 80000 Beginning finished goods 25000 overhead Operating expenses 75000 Ending finished goods 15000 $300000 $320000...
6. Poor Professor Mullen (PPM) Ine hae $20.000 of ending finished goods (EI, FG) inventory as of December 31, 2015. If beginning finished coods (BIFG) inventory was $10,000 and cost of goods sold (CGS) was $40.000, how much would Poor Professor Mullen, Inc report for cost of goods manufactured (CGM)? A) $45,000 B) $10,000 C) $50,000 D) $30,000 7. Lao Shu Mullen, Ine's accounting records reflect the following inventories: -_Jan 1. 2015 (BI) Dec.31. 2015 (ET) Raw materials inventory (RM)...
Costs of goods manufactured of Oriole Company are shown below Oriole Company Cost of Goods manufactured Year Ending December 31, 2020 Beginning work in process Direct materials: Beginning raw materials Raw material purchases Total raw materials available for use Ending raw materials Direct materials used Direct Labour Total manufacturing overhead Ending work in process Cost of Goods Manufactured $14800 $13800 21800 35600 5400 30200 6300 11000 18200 $44100 How much is the total manufacturing cost?
4) In the Schedule of Cost of Goods Manufactured and Cost of Goods Sold, the cost of goods manufactured is computed according to which of the following equations? A) Cost of goods manufactured = Total manufacturing costs + Ending work in process inventory - Beginning work in process inventory B) Cost of goods manufactured = Total manufacturing costs + Beginning work in process inventory - Ending work in process inventory C) Cost of goods manufactured = Total manufacturing costs +...
Prepare the cost of goods manufactured schedule.
$ Raw materials purchased Beginning raw materials Direct materials used Indirect materials requested Indirect labor Utilities - administration area Utilities - factory area Rent - adminstration Rent - factory Taxes - administration Taxes-factory Other factory Other manufacturing overhead actual Direct labor Manufacturing overhead applied at 150% of direct costs Beginning WIP Ending WIP Beginning finished good Ending finished goods 850 40 750 30 100 90 200 100 200 200 500 500 75 250...
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