Question

1.) If the cost of the beginning work in process inventory is $56,000, direct materials cost...

1.) If the cost of the beginning work in process inventory is $56,000, direct materials cost is $346,000, direct labor cost is $212,000, and overhead cost is $315,000, and the ending work in process inventory is $51,000, calculate the cost of goods manufactured:

$980,000.

$563,000.

$873,000.

$878,000.

$929,000.

2.)

Using the information below for Laurels Company; determine the manufacturing costs added during the current year:

    

  Direct materials used $ 6,900   
  Direct labor 8,900   
  Total Factory overhead 7,000   
  Beginning work in process 4,900   
  Ending work in process 7,800   

$22,800.

$19,300.

$19,900.

$15,800.

$25,700.

3.)

Using the information below for Sundar Company; determine the total manufacturing costs added during the current year:

Direct materials used $19,200
Direct labor used 24,700
Factory overhead 54,100
Beginning work in process 10,900
Ending work in process 11,500

$98,000.

$43,900.

$97,400.

$43,300.

$78,200.

4.)

Craigmont Company's direct materials costs are $3,900,000, its direct labor costs total $7,810,000, and its factory overhead costs total $5,810,000. Its conversion costs total:

$11,710,000.

$9,710,000.

$13,620,000.

$5,900,000.

$17,520,000.

Homework Answers

Answer #1

the cost of goods manufactured

cost of goods manufactured is the costs of: direct materials used + direct labor used + manufacturing overhead assigned = the manufacturing costs incurred in the current accounting period + beginning work-in-process inventory - ending work-in-process inventory.

346000+212000+ 315000+56000-51000=878000

manufacturing costs added during the current year:

6900+8900+7000+4900-7800= 19900

the total manufacturing costs added during the current year:

Direct materials used$19,200+Direct labor used24,700+Factory overhead54,100+Beginning work in process10,900 -Ending work in process11,500= 97400

conversion costs

Conversion costs are the combination of direct labor costs plus manufacturing overhead costs.

7810000+5810000= 13620000

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