Question

Compute the Cost of Goods Sold for 2016 using the following information: Direct Materials, Jan. 1,...

Compute the Cost of Goods Sold for 2016 using the following information: Direct Materials, Jan. 1, 2016 $ 47,000 Work-in-Process, Dec. 31, 2016 71,500 Direct Labor 55,500 Finished Goods, Dec. 31, 2016 119,000 Finished Goods, Jan. 1, 2016 149,000 Manufacturing Overhead 76,500 Direct Materials, Dec. 31, 2016 57,000 Work-in Process, Jan. 1, 2016 101,000 Purchases of Direct Material 89,000

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
1. Raw Materials Inventory, Jan 1 $75,000 Raw Materials Inventory, Dec 31 $30,000 Work in Process...
1. Raw Materials Inventory, Jan 1 $75,000 Raw Materials Inventory, Dec 31 $30,000 Work in Process Inventory, Jan 1 $105,000 Work in Process Inventory, Dec 31 $75,000 Finished Goods Inventory, Jan 1 $25,000 Finished Goods Inventory, Dec 31 $130,000 Material Purchases $65,000 Direct Labor $150,000 Indirect Labor $10,000 Factory Utilities $25,000 Factory Supplies $5,000 Factory Rent $95,000 Depreciation on Office Building $15,000 a. Direct Materials Used b. Factory Overhead c. Cost of Goods Manufactured d. Cost of Goods Sold
Required information The following selected account balances are provided for Delray Mfg. Sales $ 1,250,000 Raw...
Required information The following selected account balances are provided for Delray Mfg. Sales $ 1,250,000 Raw materials inventory, Dec. 31, 2016 37,000 Work in process inventory, Dec. 31, 2016 53,900 Finished goods inventory, Dec. 31, 2016 62,750 Raw materials purchases 175,600 Direct labor 225,000 Factory computer supplies used 17,840 Indirect labor 47,000 Repairs—Factory equipment 5,250 Rent cost of factory building 57,000 Advertising expense 94,000 General and administrative expenses 129,300 Raw materials inventory, Dec. 31, 2017 42,700 Work in process inventory,...
Prepare the 2017 schedule of cost of goods manufactured for Barton Company using the following information....
Prepare the 2017 schedule of cost of goods manufactured for Barton Company using the following information. Direct materials $ 232,500 Direct labor 71,000 Factory overhead costs 25,200 Work in process, Dec. 31, 2016 158,200 Work in process, Dec. 31, 2017 152,500 Barton Company Schedule of Cost of Goods Manufactured For Year Ended December 31, 2017 Direct materials $158,200 25,000 Direct labor Factory overhead costs Total manufacturing costs 183,200 Total cost of work in process 183,200 Less: Work in process, December...
Sales $340,000 Direct materials inventory, 1/1 20,000 Direct materials inventory, 12/31 5,500 Direct materials purchases 95,000...
Sales $340,000 Direct materials inventory, 1/1 20,000 Direct materials inventory, 12/31 5,500 Direct materials purchases 95,000 Direct labor 52,500 Manufacturing overhead 49,500 Selling and administrative expenses 55,000 Cost of goods manufactured ? Cost of goods sold ? Work in process, 1/1 26,000 Work in process, 12/31 32,500 Finished goods inventory, 1/1 40,000 Finished goods inventory, 12/31 60,000 Income before income taxes ? The cost of goods manufactured would be
Exercise 10-14 Cost of goods manufactured and sold LO 10-5 The following information pertains to Flaxman...
Exercise 10-14 Cost of goods manufactured and sold LO 10-5 The following information pertains to Flaxman Manufacturing Company for March 2018. Assume actual overhead equaled applied overhead. March 1 Inventory balances Raw materials $ 125,000 Work in process 118,900 Finished goods 77,200 March 31 Inventory balances Raw materials $ 86,700 Work in process 146,200 Finished goods 80,500 During March Costs of raw materials purchased $ 119,000 Costs of direct labor 101,900 Costs of manufacturing overhead 62,700 Sales revenues 359,000 Required...
Compute the total manufacturing costs using the following information. Raw materials inventory, January 1 $ 20000...
Compute the total manufacturing costs using the following information. Raw materials inventory, January 1 $ 20000 Raw materials inventory, December 31 40000 Work in process, January 1 18000 Work in process, December 31 12000 Finished goods, January 1 40000 Finished goods, December 31 32000 Raw materials purchases 1700000 Direct labor 760000 Factory utilities 150000 Indirect labor 50000 Factory depreciation 400000 Operating expenses 420000 $2860000. $3040000. $3046000. $3460000.
Sleep Tight manufactures comforters. The estimated inventories on January 1 for finished goods, work in process,...
Sleep Tight manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and materials were $36,000, $31,000 and $27,000 respectively. The desired inventories on December 31 for finished goods, work in process, and materials were $43,000, $37,000 and $20,000 respectively. Direct material purchases were $570,000. Direct labor was $230,000 for the year. Factory overhead was $143,000. Finished goods inventory, January 1 $ Work in process inventory, January 1 $ Direct materials: Direct materials, January 1 $...
Direct materials inventory, January 1 $ 2,520 Direct materials inventory, December 31 2,088 Work-in-process inventory, January...
Direct materials inventory, January 1 $ 2,520 Direct materials inventory, December 31 2,088 Work-in-process inventory, January 1 5,440 Work-in-process inventory, December 31 6,110 Finished goods inventory, January 1 22,320 Finished goods inventory, December 31 38,770 Cost of goods manufactured during this year 611,650 Total manufacturing costs 612,320 Direct labor 270,400 Manufacturing overhead 225,000 Average selling price per unit 18 Gross margin percentage (as a percentage of sales) 38 % if this is the infomation given how can I find the...
1.Manufacturing costs are typically classified as Select one: a. direct materials or direct labor b. product...
1.Manufacturing costs are typically classified as Select one: a. direct materials or direct labor b. product costs or period costs c. direct materials, direct labor, or manufacturing overhead d. direct materials, direct labor, or selling and administrative 2. Raw materials inventory, January 1 $ 12,000 Raw materials inventory, December 31 16,000 Work in process, January 1 5,000 Work in process, December 31 8,000 Finished goods, January 1 17,000 Finished goods, December 31 12,000 Raw materials purchases 118,000 Direct labor 165,000...
Sales $ 651,000 Direct labor cost $ 80,000 Raw material purchases $ 139,000 Selling expenses $...
Sales $ 651,000 Direct labor cost $ 80,000 Raw material purchases $ 139,000 Selling expenses $ 104,000 Administrative expenses $ 47,000 Manufacturing overhead applied to work in process $ 209,000 Actual manufacturing overhead costs $ 227,000 Raw materials $ 8,900 $ 10,800 Work in process $ 5,200 $ 20,200 Finished goods $ 74,000 $ 25,500 How do I find the total manufacturing cost
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT