Presented below is selected information from the Larry Company's
current period account records (in $000s):
Raw...
Presented below is selected information from the Larry Company's
current period account records (in $000s):
Raw Materials Used: 2,500
Direct Labor Costs: 1,000
Period Costs (S&A): 2,500
Beginning Raw Materials Inventory: 300
Ending Raw Materials Inventory: 1,000
Net Income: 300
Beginning Work-in-Process Inventory: 0
Ending Work-in-Process Inventory: 300
Beginning Finished Goods Inventory: 700
Ending Finished Goods Inventory: 400
Note: All raw materials used were direct materials
Determine the following (in dollars)
a) Raw Materials Purchases
b) Gross Profit if Sales...
1-
Sneider Family Orange Groves processes a variety of fresh
juices. The company has the following...
1-
Sneider Family Orange Groves processes a variety of fresh
juices. The company has the following expenses for July:
Depreciation expense on bottling machines
$ 63 comma 100$63,100
Glass juice bottles
$ 60 comma 300$60,300
Commissions for salespeople
$ 30 comma 200$30,200
Salaries of nutrition researchers
$ 75 comma 800$75,800
Costs of maintaining website used for customer orders
$ 4 comma 800$4,800
Wages of factory workers
$ 75 comma 700$75,700
Freshness seals/caps for juice bottles
$ 3 comma 400$3,400
Reconfiguring...
The following information was extracted from Manuco.'s financial
documents.
Beginning raw materials inventory
$55,000
Ending raw...
The following information was extracted from Manuco.'s financial
documents.
Beginning raw materials inventory
$55,000
Ending raw materials inventory
$29,000
Beginning work-in-process inventory
$23,000
Ending work-in-process inventory
$60,000
Beginning finished goods inventory
$30,000
Ending finished goods inventory
$55,000
Raw materials purchased during the period
$86,000
Total direct labor cost during the period
$76,000
Total factory overhead cost during the period
$18,000
Assuming that all raw materials are direct materials, calculate the
cost of raw materials requisitioned, cost of goods manufactured,
and...
The following is selected financial data from Turtle Bay
Manufacturing for the most recent year.
Ending...
The following is selected financial data from Turtle Bay
Manufacturing for the most recent year.
Ending raw materials inventory
$ 21 comma 400$21,400
Ending work in process inventory
$ 44 comma 800$44,800
Ending finished goods inventory
$ 53 comma 600$53,600
Amount of underallocated manufacturing overhead
$ 5 comma 800$5,800
Cost of goods sold for year
$ 85 comma 900$85,900
Cost of raw materials purchased during year
$ 45 comma 600$45,600
Cost of direct materials requisitioned during year
$ 43 comma...
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...
13. Wasson Company reported the following year-end
information:
Beginning work in process inventory
 
13. Wasson Company reported the following year-end
information:
Beginning work in process inventory
$ 35,000
Beginning raw materials
inventory
18,000
Ending work in process
inventory
38,000
Ending raw materials
inventory
15,000
Raw materials
purchased
560,000
Direct
labor
180,000
Manufacturing
overhead
120,000
How much is Wasson’s total cost of work in process for the
year?
Select one:
a. $898,000
b. $608,000
c. $863,000
d. $860,000
14. When a job is completed and all costs have been accumulated
on a job...
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 data have been provided from the Morgan
Manufacturing Company for the most recent period:...
The following data have been provided from the Morgan
Manufacturing Company for the most recent period:
Sales................................................................................
$30,000
Purchases of raw
materials..............................................
$9,000
Raw materials inventory,
ending....................................
$1,050
Raw materials inventory, beginning
$1,400
Utilities on
factory……………………………………...
$3,300
Direct
labor.....................................................................
$3,00
Administrative
expense...................................................
$2,000
Selling
expenses..............................................................
$1,200
Work in process inventory,
beginning............................
$900
Salary of factory
Supervisor...........................................
$4,500
Work in process inventory,
ending.................................
$1,200
Finished goods inventory,
beginning..............................
$1,100
Finished goods inventory,
ending...................................
$1,300
Required: Calculate the cost of goods sold
The following selected account balances are provided for Delray
Mfg.
Sales
$
1,472,000
Raw materials inventory,...
The following selected account balances are provided for Delray
Mfg.
Sales
$
1,472,000
Raw materials inventory, beginning
36,000
Work in process inventory, beginning
57,200
Finished goods inventory, beginning
68,000
Raw materials purchases
176,300
Direct labor
238,000
Factory supplies used (indirect materials)
21,600
Indirect labor
55,000
Repairs—Factory equipment
5,250
Rent cost of factory building
53,000
Advertising expense
98,000
General and administrative expenses
140,000
Raw materials inventory, ending
48,000
Work in process inventory, ending
45,200
Finished goods inventory, ending
65,100
Prepare an...