Sales
550,000
Lubricants for factory machines
2,790
Rent, factory building
34,580
Depreciation of...
Sales
550,000
Lubricants for factory machines
2,790
Rent, factory building
34,580
Depreciation of office equipment
3,280
Direct Labor
75,000
Indirect materials
1,650
Sales Commissions
56,740
Factory utilities
5,400
Manufacturing overhead applied
67,000
Insurance, factory
12,000
Rent, office
18,900
Purchases of Raw Materials
183,000
Work in Process, beginning
8,250
Work in Process, ending
13,900
Raw materials, beginning
23,000
Raw materials, ending
17,500
Prepare the Schedule...
Find the cost of good manufactured based on the following
data
Revenue and
expenses: &nb
Find the cost of good manufactured based on the following
data
Revenue and
expenses:
January 1 inventories:
Purchases of raw materials
$170,000
Raw materials
$ 30,000
Direct labor
240,000
Work in
process
$ 45,000
Indirect labor
40,000
Finished goods
$105,000
Rent – factory
84,000
Depreciation –
machinery
35,000
December 31 inventories:
Insurance – factory
18,000
Raw materials
$ 40,000
Utilities –
factory
2,500
Work...
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...
Classifying Costs, Calculating Cost of Goods Manufactured, and
Preparing an Income Statement.
Madison Company has the...
Classifying Costs, Calculating Cost of Goods Manufactured, and
Preparing an Income Statement.
Madison Company has the following information available:
Cost
Amount
Cost
Amount
Factory Utilities
3,000
Depreciation – Factory Equipment
4,000
Factory Maintenance
1,100
Indirect Labor
15,550
Production Supervisor’s Salary
48,990
Direct Labor Wages
50,000
Sales Commissions
14,000
Direct Material Purchases
120,000
President’s Salary
98,000
Depreciation-Office Equipment
2,000
Office Utilities
1,500
Factory Insurance
3,800
Accounts Receivable
12,500
Cash
62,300
Office Salaries
15,650
Factory Rent
17,775
Other information includes:
Inventory
Beginning...
Schedules of Cost of Goods Manufactured and Cost of Goods Sold;
Income Statement
Nish Corporation has...
Schedules of Cost of Goods Manufactured and Cost of Goods Sold;
Income Statement
Nish Corporation has provided the following data for the month of
April:
Sales ...............................................
$220,000
Raw materials purchases ...............
$50,000
Direct labor cost ............................
$23,000
Manufacturing overhead cost ........
$59,000
Selling expense ..............................
$18,000
Administrative expense .................
$43,000
Inventories:
Beginning
Ending
Raw materials ........
$26,000
$35,000
Work in the process .....
$18,000
$22,000
Finished goods .......
$42,000
$29,000
Required:
a. Prepare a Schedule of Cost of Goods...
The following data from the Oasis Corporation is
below:
Sales
$
640,000
Direct Labor Cost
90,000...
The following data from the Oasis Corporation is
below:
Sales
$
640,000
Direct Labor Cost
90,000
Raw Material Purchases
132,000
Manufacturing Overhead applied to WIP
210,000
Actual Manufacturing Overhead costs
220,000
Administrative Salaries
38,000
Depreciation Expense - Office
15,000
Marketing Expense
22,000
Rent Expense - Office
34,000
Sales Salaries
35,000
Sales Commissions
12,000
Direct Materials, beginning balance
8,000
Direct Materials, ending balance
10,000
Work in Process, beginning balance
5,000
Work in Process, ending balance
20,000
Finished Goods, beginning balance
70,000...
Required information
The following selected account balances are provided for Delray
Mfg.
Sales
$
1,308,000
Raw...
Required information
The following selected account balances are provided for Delray
Mfg.
Sales
$
1,308,000
Raw materials inventory, beginning
44,000
Work in process inventory, beginning
56,500
Finished goods inventory, beginning
68,100
Raw materials purchases
158,500
Direct labor
247,000
Factory supplies used (indirect materials)
23,600
Indirect labor
45,000
Repairs—Factory equipment
5,250
Rent cost of factory building
58,000
Advertising expense
110,000
General and administrative expenses
135,000
Raw materials inventory, ending
45,900
Work in process inventory, ending
47,400
Finished goods inventory, ending
65,900...
The following selected account balances are provided for Delray
Mfg.
Sales
$
1,193,000
Raw materials inventory,...
The following selected account balances are provided for Delray
Mfg.
Sales
$
1,193,000
Raw materials inventory, beginning
45,000
Work in process inventory, beginning
51,700
Finished goods inventory, beginning
68,700
Raw materials purchases
160,000
Direct labor
241,000
Factory supplies used (indirect materials)
19,100
Indirect labor
40,000
Repairs—Factory equipment
5,250
Rent cost of factory building
57,000
Advertising expense
109,000
General and administrative expenses
126,000
Raw materials inventory, ending
42,900
Work in process inventory, ending
38,200
Finished goods inventory, ending
69,000
Prepare its...
Question 1 Cost of Goods Manufactured Suggested time 20 minutes
15 Marks
COneVIDeo Manufacturing Company provided...
Question 1 Cost of Goods Manufactured Suggested time 20 minutes
15 Marks
COneVIDeo Manufacturing Company provided the following details
about operations in February 2020: Purchases of raw materials $
142,000 Maintenance, factory 38,200 Direct labour 33,300
Depreciation, factory equipment 56,600 Indirect materials, factory
3,200 Selling and administrative salaries 43,700 Utilities, factory
26,800 Sales commissions 17,900 Insurance, factory equipment 4,200
Depreciation, sales equipment 20,800 Advertising expenses 109,500
Rent, factory building 53,480
The company also provided details regarding the balances in...