Cost of Goods Manufactured Slapshot Company makes ice hockey sticks. During the month of June, the...
Cost of Goods Manufactured Slapshot Company makes ice hockey sticks. During the month of June, the company purchased $120,000 of materials. Also during the month of June, Slapshot Company incurred direct labor cost of $173,000 and manufacturing overhead of $224,000. Inventory information is as follows: June 1 June 30 Materials $48,000 $45,000 Work in process 65,000 63,000 Required: 1. Calculate the cost of goods manufactured for the month of June. $ 2. Calculate the cost of one hockey stick assuming that 1,900 sticks were completed during June. Round your answer to the nearest cent. $ per hockey stick
Homework Answers
| 1 | |||
| Direct materials: | |||
| Raw materials inventory, beginning | 48000 | ||
| Add: Purchases of raw materials | 120000 | ||
| Raw materials available for use | 168000 | ||
| Less: Raw materials inventory, ending | 45000 | ||
| Direct materials used in production | 123000 | ||
| Direct labor | 173000 | ||
| Manufacturing overhead cost | 224000 | ||
| Total manufacturing costs | 520000 | ||
| Add: Work in process inventory, beginning | 65000 | ||
| 585000 | |||
| Less: Work in process inventory, ending | 63000 | ||
| Cost of goods manufactured | 522000 | ||
| 2 | |||
| Cost of one hockey stick | 274.74 | =522000/1900 |
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Cost of Goods Manufactured Slapshot Company makes ice hockey
sticks. During the month of June, the...
Cost of Goods Manufactured Slapshot Company makes ice hockey sticks. During the month of June, the...
Cost of Goods Manufactured Slapshot Company makes ice hockey sticks. During the month of June, the company purchased $123,000 of materials. Also during the month of June, Slapshot Company incurred direct labor cost of $161,000 and manufacturing overhead of $212,000. Inventory information is as follows: June 1 June 30 Materials $48,000 $45,000 Work in process 65,000 63,000 Required: 1. Calculate the cost of goods manufactured for the month of June. $ 2. Calculate the cost of one hockey stick assuming...
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Slapshot Company makes ice hockey sticks and sold 1,880 sticks during the month of June at...
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1 . Google CenoneNoWoninetes X Cont of Good Manufacture 03 Po akossignment/takeAssignment Man do invoker-StakeAssignment SessionLocator-&inprogress-false le - ACOX UTF8 Mowerpot R X + Show Me How Calculator Print item Cost of Goods Manufactured Slapshot Company makes ice hockey sticks. During the month of June, the company purchased $122,000 of materials. Also during the month of June, Slapshot Company incurred direct labor cost of $167,000 and manufacturing overhead of $236,000. Inventory Information is as follows: June 1 June 30 Materials...
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rogen Sports | Best Bitcoin Sp x Q Managerial Accounting Final Wo X C Cost Of Goods Manufactured Slix + /ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Other bookmarks eBook Show Me How Calculator Slapshot Company makes ice hockey sticks. During the month of June, 1,900 sticks were completed at a cost of goods manufactured of $547,000. Suppose that on June 1, Slapshot had 680 units in finished goods inventory costing $160,000 and on June 30, 930 units in finished goods inventory costing $215,000. 1. Prepare...
H UULURULUI Cost of Goods Sold Slapshot Company makes ice hockey sticks. During the month of June, 1,900 sticks were completed at a cost of goods manufactured of $525,000. Suppose that on June 1, Slapshot had 650 units in finished goods inventory costing $160,000 and on June 30, 930 units in finished goods inventory costing $215,000. 1. Prepare a cost of goods sold statement for the month of June. Slapshot Company Cost of Goods Sold Statement For the Month of...
Slapshot Company makes ice hockey sticks and sold 1,880 sticks during the month of June at a total cost of $433,000. Each stick sold at a price of $400. Slapshot also incurred two types of selling costs: commissions equal to 10% of the sales priceand other selling expense of $65,000. Administrative expense totaled $53,800. Required: Prepare an income statement for Slapshot for the month of June and calculate the percentage of sales revenue represented by each line of the income...
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Slapshot Company makes ice hockey sticks and sold 1,700 sticks during the month of June at a total cost of S408,000. Each stick sold at a price of S400. Slapshot also incurred two types of selling costs: commissions equal to 10% of the sales price and other selling expense of S83,100. Administrative expense totaled $$3,800. Required: Prepare an income statement for Slapshot for the month of June. Labels and Amount Descriptions Refer to the list below for the exact wording...
price of 3400 Slapshot Company makes ice hockey sicks and sold 1.20 sticks during the month of June at a total cost of 436.800 Each ick sold other sing expense of $04.200. Administrative expense stated $52.200 incurred two types of selling costs commissions equal to 10% of the sales price and Resuired Prepare an income statement for Slapshot for the more Slapshot Company makes ice hockey sticks and sold 1.820 sticks during the month of June a other selling expense...
1 . Google CenoneNoWoninetes X Cont of Good Manufacture 03 Po akossignment/takeAssignment Man do invoker-StakeAssignment SessionLocator-&inprogress-false le - ACOX UTF8 Mowerpot R X + Show Me How Calculator Print item Cost of Goods Manufactured Slapshot Company makes ice hockey sticks. During the month of June, the company purchased $122,000 of materials. Also during the month of June, Slapshot Company incurred direct labor cost of $167,000 and manufacturing overhead of $236,000. Inventory Information is as follows: June 1 June 30 Materials...
Prime Cost and Conversion Cost Slapshot Company makes ice hockey sticks. Last week, direct materials (wood, paint, Kevlar, and resin) costing $24,000 were put into production. Direct labor of $28,000 (10 workers x 100 hours x $28 per hour) was incurred. Manufacturing overhead equaled $52,000. By the end of the week, the company had manufactured 4,400 hockey sticks. 1. Calculate the total prime cost for last week. 2. Calculate the per-unit prime cost. Round your answer to the nearest cent....
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