Question

The following data are available for Justine Corporation for the year ending December 31, 2009 January...

The following data are available for Justine Corporation for the year ending December 31, 2009 January 1 December 31

Inventories Materials P100, 000 P150, 000

Work in process P180, 000 P128, 000

Finished Goods P90, 000 P110, 000

Direct labor cost P290, 000

Materials purchased P320, 000

Factory overhead – applied at 120% of direct labor cost

21. Direct materials used

22. Total manufacturing cost

23. Cost of good manufactured

24. Cost of goods sold

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
FAGAN MANUFACTURING COMPANY INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2009 Sales $900,000 Cost of...
FAGAN MANUFACTURING COMPANY INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2009 Sales $900,000 Cost of goods sold: Finished goods inventory, January 1 $0 Cost of goods manufactured 812,500 Goods available for sale $812,500 Finished goods inventory, December 31 162,500 Cost of goods sold 650,000 Gross margin $250,000 Less Operating expenses: Selling $135,000 Administrative 30,000 Total selling and administrative 165,000 Operating profit $85,000 The following additional information is available: Variable costs per unit: Direct materials $9.50 Direct labor 12.00 Manufacturing...
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 $37,000, $34,000 and $25,000 respectively. The desired inventories on December 31 for finished goods, work in process, and materials were $44,000, $33,000 and $19,000 respectively. Direct material purchases were $575,000. Direct labor was $206,000 for the year. Factory overhead was $147,000. Prepare a cost of goods sold budget for Sleep Tight, Inc. Sleep Tight, Inc. Cost of Goods Sold Budget For...
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 $...
Sleep Tight, Inc., manufactures comforters. The estimated inventories on January 1 for finished goods, work in...
Sleep Tight, Inc., manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and materials were $39,000, $33,000, and $27,000, respectively. The desired inventories on December 31 for finished goods, work in process, and materials were $42,000, $35,000, and $21,000, respectively. Direct materials purchases were $575,000, direct labor was $212,000 for the year, and factory overhead was $156,000. Prepare a cost of goods sold budget for Sleep Tight, Inc. Sleep Tight, Inc. Cost of Goods Sold...
The following information is available for All-True Window Company January 1, 2017 2017 December 31, 2017...
The following information is available for All-True Window Company January 1, 2017 2017 December 31, 2017 Raw materials inventory 21,000 30,000 Work in process inventory 13,500 17,200 Finished goods inventory 27,000 21,000 Materials purchased 650,000 Direct labor 300,000 Manufacturing overhead 450,000 Sales revenue 1,625,000 a. Determine the cost of materials used during the year? b. Prepare Cost of Goods Manufactured statement for the year ended December 31, 2017. c. Prepare income statement through gross profit for the year ended December...
Superior Company provided the following data for the year ended December 31 (all raw materials are...
Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): Selling expenses $ 214,000 Purchases of raw materials $ 267,000 Direct labor ? Administrative expenses $ 157,000 Manufacturing overhead applied to work in process $ 371,000 Actual manufacturing overhead cost $ 354,000 Inventory balances at the beginning and end of the year were as follows: Beginning of Year End of Year Raw materials $ 59,000 $ 33,000 Work...
Superior Company provided the following data for the year ended December 31 (all raw materials are...
Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): Selling expenses $ 218,000 Purchases of raw materials $ 261,000 Direct labor ? Administrative expenses $ 158,000 Manufacturing overhead applied to work in process $ 378,000 Actual manufacturing overhead cost $ 359,000 Inventory balances at the beginning and end of the year were as follows: Beginning of Year End of Year Raw materials $ 54,000 $ 33,000 Work...
Superior Company provided the following data for the year ended December 31 (all raw materials are...
Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): Selling expenses $ 215,000 Purchases of raw materials $ 266,000 Direct labor ? Administrative expenses $ 153,000 Manufacturing overhead applied to work in process $ 370,000 Actual manufacturing overhead cost $ 359,000 Inventory balances at the beginning and end of the year were as follows: Beginning of Year End of Year Raw materials $ 50,000 $ 36,000 Work...
Basil Industries reported the following information for December: Please show work Beginning balance, Raw Materials Inventory...
Basil Industries reported the following information for December: Please show work Beginning balance, Raw Materials Inventory $187,500 Beginning balance, Work in process Inventory 300,000 Beginning balance, Finished Goods Inventory 106,250 Purchases of raw materials 337,500 Factory electricity 62,500 Direct labor payroll 200,000 Depreciation on factory equipment 218,750 Insurance on factory building 50,000 Indirect materials used in production 43,750 Total raw materials used in production 406,250 Indirect labor payroll 150,000 Cost of goods manufactured 1,250,000 Cost of goods sold 1,312,500 Required:...
Brenda's Bakery has the following information available for October: Beginning Ending Raw materials $   4000 $  ...
Brenda's Bakery has the following information available for October: Beginning Ending Raw materials $   4000 $   2000 Work-in-process 32 000 17 000 Finished goods 5000 3000 Cost of goods manufactured   88 000 Cost of goods sold   90 000 Direct labour costs   35 000 Factory rent and depreciation   10 000 Selling expenses   3000 How much raw material was purchased in October? A. $23 000 B. $25 000 C. $26 000 D. $28 000 could u teach me the whole solutions to...