Question

Q.1 Rex Manufacturing had the following data for the quarter ended December 31:                              &nbs

Q.1 Rex Manufacturing had the following data for the quarter ended December 31:

            

                     Office expenses                         $  12,500

                     Office rent                                     20,000

                     Factory maintenance                   25,000

                     Office maintenance                      11,000

Work in process, Jan.1

  15,000

Work in processDec.31

    40,000

Finished goods, Jan. 1

72,000

Finished goods, Dec. 31

65,000

Direct materials used

120,000

Direct labor

260,000

Factory depreciation

65,000

Factory rent  

Sales                                                                       

30,000

            

   

        580,000

Sales Returns                  

            2,000     

         

Advertising expense

52,000

Admin salaries           

25,000

Indirect materials

19,000

Indirect labor

33,000

            

            Required:

  1. Present Rex's Schedule of Cost of goods Manufactured.
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
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...
3) Consider the following account balances in thousands for the Yankee Company for the year ended...
3) Consider the following account balances in thousands for the Yankee Company for the year ended December 31, 2017: Direct Materials Inventory, Beginning $ 44,000 Direct Material Inventory, Ending 26,000 Work in Process, Beginning 32,000 Work in Process, Ending 14,000 Finished Goods Inventory, Beginning 25,000 Finished Goods Inventory, Ending 18,000 Direct Materials, Purchased 99,000 Direct Labor 32,000 Indirect Labor 12,000 Plant insurance 19,000 Other insurance 18,000 Depreciation – plant 11,000 Depreciation – other 10,000 Repairs & Maintenance – plant 35,000...
The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and...
The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and other records of Leone Company.     Advertising expense $ 29,200 Direct labor $ 694,600 Depreciation expense—Office equipment 11,600 Income taxes expense 295,300 Depreciation expense—Selling equipment 10,300 Indirect labor 57,100 Depreciation expense—Factory equipment 33,400 Miscellaneous production costs 10,500 Factory supervision 126,900 Office salaries expense 62,000 Factory supplies used 9,200 Raw materials purchases 929,000 Factory utilities 40,000 Rent expense—Office space 29,000 Inventories Rent expense—Selling space 27,100...
1. Creation Company produces gadgets for the coveted small appliance market. The following data reflect activity...
1. Creation Company produces gadgets for the coveted small appliance market. The following data reflect activity for the year 2014: Costs incurred: Purchases of direct materials (net) on credit $122,000 Direct manufacturing labor cost 83,000 Indirect labor 54,000 Depreciation, factory equipment 32,000 Depreciation, office equipment 7,900 Maintenance, factory equipment 29,000 Miscellaneous, factory overhead 9,900 Rent, factory building 78,000 Advertising expense 94,000 Sales commissions 33,000 Inventories: January 1, 2014 December 31, 2014 Direct materials $9,800 $13,000 Work in process 6,300 23,000...
The following information pertains to the York Company for the year ending December 31, 2019. $...
The following information pertains to the York Company for the year ending December 31, 2019. $ Hours Revenue 240,000 Interest Revenue 50,000 Raw materials used 40,000 Indirect Labour 4,000 Indirect Materials 9,000 Utilities [factory] 4,500 Depreciation of factory equipment 10,000 Depreciation of factory buildings 19,000 Depreciation of admin buildings 5,000 Marketing costs 30,000 Wages [Store] 10,000 Utilities [store] 6,000 Supplies [store] 3,500 Direct Labour Hours 2000 Hourly Rate for direct labour 10 Finished Goods Inventory Jan 1 2019 7,000 Finished...
Information for Stanton, Inc., as of December 31 follows. Prepare a schedule of cost of goods...
Information for Stanton, Inc., as of December 31 follows. Prepare a schedule of cost of goods manufactured for the year ended December 31. Administrative salaries $ 35,000 Depreciation of factory equipment 25,000 Depreciation of delivery vehicles 6,000 Direct labor 68,000 Factory supplies used 9,000 Finished goods inventory, January 1 57,000 Finished goods inventory, December 31 ? Factory insurance 15,500 Interest expense 12,000 Factory utilities 14,000 Factory maintenance 7,500 Raw materials inventory, January 1 5,000 Raw materials inventory, December 31 4,000...
The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and...
The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and other records of Leone Company. Advertising expense $ 28,750 Depreciation expense—Office equipment 7,250 Depreciation expense—Selling equipment 8,600 Depreciation expense—Factory equipment 33,550 Factory supervision 102,600 Factory supplies used 7,350 Factory utilities 33,000 Direct labor 675,480 Indirect labor 56,875 Miscellaneous production costs 8,425 Office salaries expense 63,000 Raw materials purchases* 925,000 Rent expense—Office space 22,000 Rent expense—Selling space 26,100 Rent expense—Factory building 76,800 Maintenance expense—Factory equipment...
account balances for the year ended December 31: Selling and administrative salaries $ 106,000 Insurance, factory...
account balances for the year ended December 31: Selling and administrative salaries $ 106,000 Insurance, factory 7,200 Utilities, factory 51,500 Purchases of raw materials ? Indirect labour 62,000 Direct labour 101,800 Advertising expense 76,500 Cleaning supplies, factory 7,500 Sales commissions 40,500 Rent, factory building 120,000 Maintenance, factory 30,000 Inventory balances at the beginning and end of the year were as follows: Beginning of the Year End of the Year Raw materials $ 60,800 $ 8,300 Work in process ? 32,800...
Required information [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory...
Required information [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $85,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $382,000. Overhead costs incurred in April are: indirect materials, $54,000; indirect labor, $25,000; factory rent, $34,000; factory utilities, $24,000; and factory equipment depreciation, $54,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $665,000 cash in April. Costs of...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT