Marigold Corp.'s accounting records reflect the following
inventories: Dec. 31, 2020 Dec. 31, 2019 Raw materials...
Marigold Corp.'s accounting records reflect the following
inventories: Dec. 31, 2020 Dec. 31, 2019 Raw materials inventory
$390000 $340000 Work in process inventory 300000 160000 Finished
goods inventory 190000 150000 During 2020, $890000 of raw materials
were purchased, direct labor costs amounted to $670000, and
manufacturing overhead incurred was $640000. The total raw
materials available for use during 2020 for Marigold Corp. is
$1230000. $750000. $840000. $1280000.
1.Bonita Industries's accounting records reflect the following
inventories:
Dec. 31, 2020
Dec. 31, 2019
Raw materials...
1.Bonita Industries's accounting records reflect the following
inventories:
Dec. 31, 2020
Dec. 31, 2019
Raw materials inventory
$310000
$260000
Work in process inventory
300000
160000
Finished goods inventory
190000
150000
During 2020, $1060000 of raw materials were purchased, direct labor
costs amounted to $668000, and manufacturing overhead incurred was
$768000.
If Bonita Industries's cost of goods manufactured for 2020 amounted
to $2306000, its cost of goods sold for the year is
$2346000.
$2166000.
$2416000.
$2266000.
2. During 2019, Oriole Company...
1.Oriole Company's accounting records reflect the following
inventories:
Dec. 31, 2020
Dec. 31, 2019
Raw materials...
1.Oriole Company's accounting records reflect the following
inventories:
Dec. 31, 2020
Dec. 31, 2019
Raw materials inventory
$330000
$270000
Work in process inventory
300000
160000
Finished goods inventory
190000
150000
During 2020, $820000 of raw materials were purchased, direct labor
costs amounted to $670000, and manufacturing overhead incurred was
$640000.
Oriole Company's total manufacturing costs incurred in 2020
amounted to
$1930000.
$2030000.
$2070000.
$2130000.
2.Cost of goods sold is obtained from
a.the Raw Materials Inventory control account.
b.analysis of all...
Bramble Corp.'s accounting records reflect the following
inventories: Dec. 31, 2020 Dec. 31, 2019 Raw materials...
Bramble Corp.'s accounting records reflect the following
inventories: Dec. 31, 2020 Dec. 31, 2019 Raw materials inventory
$310000 $260000 Work in process inventory 300000 160000 Finished
goods inventory 190000 150000 During 2020, $720000 of raw materials
were purchased, direct labor costs amounted to $501000, and
manufacturing overhead incurred was $560000. If Bramble Corp.'s
cost of goods manufactured for 2020 amounted to $1591000, its cost
of goods sold for the year is $1701000. $1551000. $1451000.
$1631000.
Benson Inc.'s accounting records reflect the following
inventories:
Dec. 31, 2016
Dec. 31, 2017
Raw materials...
Benson Inc.'s accounting records reflect the following
inventories:
Dec. 31, 2016
Dec. 31, 2017
Raw materials inventory
$ 80,000
$ 64,000
Work in process inventory
104,000
116,000
Finished goods inventory
100,000
92,000
During 2017, Benson purchased $1,450,000 of raw materials,
incurred direct labor costs of $250,000, and incurred manufacturing
overhead totaling $160,000.
Assume Benson's cost of goods manufactured for 2017 amounted to
$1,660,000. How much would it report as cost of goods sold for the
year?
Question 6 options:
$1,760,000...
Concord Corporation's accounting records reflect the following
inventories:
Dec. 31, 2016
Dec. 31, 2017
Raw materials...
Concord Corporation's accounting records reflect the following
inventories:
Dec. 31, 2016
Dec. 31, 2017
Raw materials inventory
$50000
$ 97000
Work in process inventory
76000
94000
Finished goods inventory
70000
58000
During 2017, Concord purchased $900000 of raw materials, incurred
direct labor costs of $175000, and incurred manufacturing overhead
totaling $224000.
How much would Concord Corporation report as cost of goods
manufactured for 2017?
$1246000
$1229000
$1240000
$1234000
1. Dolan Company's accounting records reflect the following
inventories:
Dec. 31, 2020
Dec. 31, 2019
Raw...
1. Dolan Company's accounting records reflect the following
inventories:
Dec. 31, 2020
Dec. 31, 2019
Raw materials inventory
$310,000
$260,000
Work in process inventory
300,000
160,000
Finished goods inventory
190,000
150,000
During 2020, $800,000 of raw materials were purchased, direct
labor costs amounted to $670,000, and manufacturing overhead
incurred was $640,000.
Dolan Company's total manufacturing costs incurred in 2020 amounted
to
2. Management by exception
A.
means that only unfavorable differences will be
investigated.
B.
means that material differences will...
Swifty Manufacturing Inc.'s accounting records reflect the
following inventories:
Dec. 31, 2019
Dec. 31, 2020
Raw...
Swifty Manufacturing Inc.'s accounting records reflect the
following inventories:
Dec. 31, 2019
Dec. 31, 2020
Raw materials inventory
$99900
$80300
Work in process inventory
129400
144300
Finished goods inventory
125000
114600
During 2020, Swifty purchased $949400 of raw materials, incurred
direct labour costs of $125800, and incurred manufacturing overhead
totalling $160300. How much is total manufacturing costs incurred
during 2020 for Swifty?
$1241200
$1255100
$1235500
$1250400
Myles Manufacturing Company's accounting records reflect the
following inventories: Dec. 31, 2014 Dec. 31, 2013 Raw...
Myles Manufacturing Company's accounting records reflect the
following inventories: Dec. 31, 2014 Dec. 31, 2013 Raw materials
inventory $620,000 $820,000 Work in process inventory 300,000
220,000 Finished goods inventory 380,000 100,000 During 2014,
$900,000 of raw materials were purchased, direct labor costs
amounted to $1,000,000, indirect labor costs amounted to $300,000,
and manufacturing overhead was $960,000. Based upon the above
information, cost of goods sold for the year is: Select one: a.
$2,480,000. b. $2,100,000. c. $2,380,000. d. $2,700,000. e....
1.In determining total manufacturing costs on the cost of goods
manufactured schedule,
a.actual manufacturing overhead costs...
1.In determining total manufacturing costs on the cost of goods
manufactured schedule,
a.actual manufacturing overhead costs appear as a deduction.
b.manufacturing overhead applied is added to direct materials
and direct labor.
c.ending work in process inventory is deducted from beginning
work in process inventory.
d.beginning work in process inventory should have a zero
balance.
2.Bonita Industries applies overhead on the basis of 200% of
direct labor cost. Job No. 305 is charged with $450000 of direct
materials costs and $300000...