The following data pertain to the Northwest Co.:
Materials inventory, 1/1/19 $20,000
Materials inventory, 12/31/19 30,000...
The following data pertain to the Northwest Co.:
Materials inventory, 1/1/19 $20,000
Materials inventory, 12/31/19 30,000
Materials purchases 140,000
Work in process inventory, 1/1/19 40,000
Work in process inventory, 12/31/19 34,500
Direct labor 162,000
Manufacturing overhead 143,000
Finished goods inventory, 1/1/19 90,000
Finished goods inventory, 12/31/19 74,000
Cost of goods sold should be:
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
Direct materials inventory, January 1 $ 2,520 Direct materials
inventory, December 31 2,088 Work-in-process inventory, January...
Direct materials inventory, January 1 $ 2,520 Direct materials
inventory, December 31 2,088 Work-in-process inventory, January 1
5,440 Work-in-process inventory, December 31 6,110 Finished goods
inventory, January 1 22,320 Finished goods inventory, December 31
38,770 Cost of goods manufactured during this year 611,650 Total
manufacturing costs 612,320 Direct labor 270,400 Manufacturing
overhead 225,000 Average selling price per unit 18 Gross margin
percentage (as a percentage of sales) 38 % if this is the
infomation given how can I find the...
The following selected account balances are provided for Delray
Mfg.
Sales $ 1,498,000
Raw materials inventory,...
The following selected account balances are provided for Delray
Mfg.
Sales $ 1,498,000
Raw materials inventory, Dec. 31, 2016 40,000
Work in process inventory, Dec. 31, 2016 51,600
Finished goods inventory, Dec. 31, 2016 67,100
Raw materials purchases 184,300
Direct labor 223,000
Factory computer supplies used 23,100
Indirect labor 50,000
Repairs—Factory equipment 5,250
Rent cost of factory building 59,000
Advertising expense 95,000
General and administrative expenses 130,000
Raw materials inventory, Dec. 31, 2017 42,500
Work in process inventory, Dec. 31,...
1.Manufacturing costs are typically classified as Select one: a.
direct materials or direct labor b. product...
1.Manufacturing costs are typically classified as Select one: a.
direct materials or direct labor b. product costs or period costs
c. direct materials, direct labor, or manufacturing overhead d.
direct materials, direct labor, or selling and administrative
2. Raw materials inventory, January 1 $ 12,000 Raw materials
inventory, December 31 16,000 Work in process, January 1 5,000 Work
in process, December 31 8,000 Finished goods, January 1 17,000
Finished goods, December 31 12,000 Raw materials purchases 118,000
Direct labor 165,000...
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...
The following selected account balances are provided for Delray
Mfg.
Sales
$
1,220,000
Raw materials inventory,...
The following selected account balances are provided for Delray
Mfg.
Sales
$
1,220,000
Raw materials inventory, beginning
41,000
Work in process inventory, beginning
57,800
Finished goods inventory, beginning
63,900
Raw materials purchases
199,900
Direct labor
232,000
Factory supplies used (indirect materials)
23,700
Indirect labor
48,000
Repairs—Factory equipment
5,250
Rent cost of factory building
54,000
Advertising expense
110,000
General and administrative expenses
140,000
Raw materials inventory, ending
40,000
Work in process inventory, ending
42,200
Finished goods inventory, ending
72,300
Prepare an...
Marcelino Co.'s March 31 inventory of raw materials is $85,000.
Raw materials purchases in April are...
Marcelino Co.'s March 31 inventory of raw materials is $85,000.
Raw materials purchases in April are $510,000, and factory payroll
cost in April is $382,000. Overhead costs incurred in April are:
indirect materials, $55,000; indirect labor, $25,000; factory rent,
$32,000; factory utilities, $20,000; and factory equipment
depreciation, $55,000. The predetermined overhead rate is 50% of
direct labor cost. Job 306 is sold for $685,000 cash in April.
Costs of the three jobs worked on in April follow.
Job 306
Job...
Hammer Inc., had the following activities during 2012: Direct
materials: Beginning inventory $ 20,000 Purchases 61,600...
Hammer Inc., had the following activities during 2012: Direct
materials: Beginning inventory $ 20,000 Purchases 61,600 Ending
inventory 10,400 Direct manufacturing labor 16,000 Manufacturing
overhead 12,000 Beginning work-in-process inventory 800 Ending
work-in-process inventory 4,000 Beginning finished goods inventory
24,000 Ending finished goods inventory 16,000 Required: a. What is
the cost of direct materials used during 2012? b. What is cost of
goods manufactured for 2012? c. What is cost of goods sold for
2012? d. What amount of prime costs...
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...