Question

calculate the Cost of Production: On February 12, 2020, the company account information is as follows:...

calculate the Cost of Production:

On February 12, 2020, the company account information is as follows:

Inventory In the initial process IDR 40,000.00

Raw material inventory initial IDR 60,000.00

Raw materials available used IDR 810,000.00

Usage of raw materials IDR 785,000.00

Direct Labor Cost IDR 500,000.00

Indirect Labor costs IDR 220,000.00

Supporting materials IDR 50,000,00

Factory Overhead others IDR 50,000.00

Machine insurance fee Rp. 12,000.00

Cost to rent a factory building Rp. 160,000.00

Depreciation Costs for factory machinery Rp. 50,000.00

Goods in the final process Rp. 30,000.00

Question: Calculate the Cost of Production!

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Please find the attached solution in the image.

Please like if it was helpful. And feel free to comment in the case of any concerns.

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
Haze Enterprise provided the following: Sales    7,500,000.00 Inventories - Jan 1    Raw Materials 200,000.00...
Haze Enterprise provided the following: Sales    7,500,000.00 Inventories - Jan 1    Raw Materials 200,000.00    Goods in Process    240,000.00    Finished Goods    360,000.00 Inventories - Dec 31 Raw Materials 280,000.00 Goods in process 170,000.00    Finished Goods 300,000.00 Purchases    3,000,000.00 Direct Labor    950,000.00 Indirect Labor    250,000.00 Superintendent 210,000.00 Light, heat and power 320,000.00 Rent- Factory Building    120,000.00 Repair and Maintenance Machinery    50,000.00 Factory Supplies Used 110,000.00 Sales, Salaries    400,000.00 Advertising...
Required information [The following information applies to the questions displayed below.] Sierra Company manufactures woven blankets...
Required information [The following information applies to the questions displayed below.] Sierra Company manufactures woven blankets and accounts for product costs using process costing. Data below are for one of its processing departments. The following information is available regarding its May inventories Beginning Inventory Ending Inventory Raw materials inventory $ 66,000 $ 43,000 Work in process inventory 404,000 541,000 Finished goods inventory 602,000 532,000 The following additional information describes the company's production activities for May. Raw materials purchases (on credit)...
JIT/Lean Production and Product Costing Presented is information pertaining to the standard or budgeted unit cost...
JIT/Lean Production and Product Costing Presented is information pertaining to the standard or budgeted unit cost of a product manufactured in a JIT/Lean Production environment at CNN Systems Inc.: Direct materials .......................................................... $40 Conversion .............................................................. 30 Total ................................................................... $70 All materials are added at the start of the production process. All raw materials purchases and conver- sion costs are directly assigned to Cost of Goods Sold. At the end of the period, costs are backed out and assigned to Raw...
Required information [The following information applies to the questions displayed below.] Sierra Company manufactures woven blankets...
Required information [The following information applies to the questions displayed below.] Sierra Company manufactures woven blankets and accounts for product costs using process costing. Data below are for one of its processing departments. The following information is available regarding its May inventories. Beginning Inventory Ending Inventory Raw materials inventory $ 60,000 $ 92,500 Work in process inventory 435,000 515,000 Finished goods inventory 633,000 605,000 The following additional information describes the company's production activities for May. Raw materials purchases (on credit)...
Exercise 15-16 An analysis of the accounts of Roberts Company reveals the following manufacturing cost data...
Exercise 15-16 An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended June 30, 2017. Inventory Beginning Ending Raw materials $9,460 $14,020 Work in process 6,380 8,070 Finished goods 9,350 6,960 Costs incurred: raw materials purchases $56,410, direct labor $50,600, manufacturing overhead $23,980. The specific overhead costs were: indirect labor $6,520, factory insurance $4,810, machinery depreciation $4,590, machinery repairs $2,330, factory utilities $3,910, and miscellaneous factory costs $1,820. Assume that all raw...
Information for Riley Manufacturing Company is presented below. Compute both the cost of goods manufactured and...
Information for Riley Manufacturing Company is presented below. Compute both the cost of goods manufactured and the cost of goods sold for the company. Hint: You will need to calculate the cost of raw materials used as raw materials used is a component of total manufacturing costs. Checks: COGM should be a number greater than $223,000 but less than $226,000. COGS should be a number greater than $242,000.    Beginning raw materials inventory   $36,800 Beginning work in process inventory   21,200...
Which of the following is/are true regarding the Work-in-Process Inventory account? A. Accumulates the cost of...
Which of the following is/are true regarding the Work-in-Process Inventory account? A. Accumulates the cost of raw materials transferred to the factory floor B. Accumulates the cost of direct labor used in production C. Accumulates the manufacturing overhead costs. D. The Work-in-Process Inventory account is reduced for the manufacturing costs assigned to the finished units transferred to the finished goods storeroom E. All of the above
The following cost data relate to the manufacturing activities of Chang Company during the just completed...
The following cost data relate to the manufacturing activities of Chang Company during the just completed year:     Manufacturing overhead costs incurred: Indirect materials $ 16,800 Indirect labor 148,000 Property taxes, factory 9,800 Utilities, factory 88,000 Depreciation, factory 295,300 Insurance, factory 11,800 Total actual manufacturing overhead costs incurred $ 569,700 Other costs incurred: Purchases of raw materials (both direct and indirect) $ 418,000 Direct labor cost $ 78,000 Inventories: Raw materials, beginning $ 21,800 Raw materials, ending $ 31,800 Work...
Glenville Company has the following information for April: Cost of direct materials used in production $...
Glenville Company has the following information for April: Cost of direct materials used in production $ 44,000 Direct labor 53,000 Factory overhead 33,000 Work in process inventory, April 1 32,000 Work in process inventory, April 30 44,000 Finished goods inventory, April 1 25,000 Finished goods inventory, April 30 a)  For April, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured. 18,000 Work in process inventory, April 1 _________________ Cost of direct materials...
Current information for the Healey Company follows: Beginning raw materials inventory $ 14,500 Raw material purchases...
Current information for the Healey Company follows: Beginning raw materials inventory $ 14,500 Raw material purchases 53,000 Ending raw materials inventory 15,900 Beginning work in process inventory 21,700 Ending work in process inventory 27,300 Direct labor 39,300 Total factory overhead 29,300 All raw materials used were traceable to specific units of product. Healey Company's total manufacturing costs for the year are:
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT