COMPUTE DIRECT LABOR BASED ON THE FOLLOWING: FACTORY
SUPERVISOR=$1,000
ASSEMBLY LINE WORKERS=$2,000 AND
OFFICE SALARIES=$5,000
COMPUTE...
COMPUTE DIRECT LABOR BASED ON THE FOLLOWING: FACTORY
SUPERVISOR=$1,000
ASSEMBLY LINE WORKERS=$2,000 AND
OFFICE SALARIES=$5,000
COMPUTE DIRECT MATERIALS USED BASED ON THE FOLLOWING:
BEG RM=$1,000
BEG WIP=$2,000
BEG FG=$3,000
END RM=$4,000
END WIP=$5,000
END FG=$6,000
RM PURCHASED=$7,000
COMPUTE COST OF GOODS MANUFACTURED BASED ON THE FOLLOWING:
DL=8,000
BEG WIP=2,000
BEG FG=3,000
MO=9,000
END WIP=5,000
END FG=6,000
DM USED =7,000
COMPUTE MANUFACTURING OVERHEAD:
FACTORY RENT=1,000
FACTORY UTILITIES=2,000
OFFICE DEPRECIATION=4,000
PREPARE THE JOURNAL ENTRY TO RECORD 5,000 RM PURCHASED ON
ACCOUNT
BASED...
COMPUTE DIRECT LABOR BASED ON THE FOLLOWING:
FACTORY SUPERVISOR=$1,000ASSEMBLY LINE WORKERS=$2,000 AND OFFICE
SALARIES=$5,000
COMPUTE DIRECT...
COMPUTE DIRECT LABOR BASED ON THE FOLLOWING:
FACTORY SUPERVISOR=$1,000ASSEMBLY LINE WORKERS=$2,000 AND OFFICE
SALARIES=$5,000
COMPUTE DIRECT MATERIALS USED BASED ON THE FOLLOWING:
BEG RM=$1,000BEG
WIP=$2,000BEG FG=$3,000
END RM=$4,000
END WIP=$5,000
END FG=$6,000
RM PURCHASED=$7,000
COMPUTE COST OF GOODS MANUFACTURED BASED ON THE FOLLOWING:
DL=8,000
BEG WIP=2,000
BEG FG=3,000
MO=9,000
END WIP=5,000
END FG=6,000
DM USED =7,000
COMPUTE MANUFACTURING OVERHEAD:
FACTORY RENT=1,000
FACTORY UTILITIES=2,000
OFFICE DEPRECIATION=4,000
PREPARE THE JOURNAL ENTRY TO RECORD 5,000 RM PURCHASED ON
ACCOUNT
BASED ON 8 ABOVE,...
The following information is provided for a compamy that used
normal costing:
Beg Mat, $2,000
End...
The following information is provided for a compamy that used
normal costing:
Beg Mat, $2,000
End Mat, $4,000
Beg WIP, $5,000
End WIP, $3,000
Beg FG, $8,000
End FG, $7,000
DM used, $10,000
DL used, $12,000
OH applied, $6,000
What was the company's cost of goods manufactured?
The following information is available for Murray Manufacturing
at year-end:
Beginning raw materials inventory
6,000
Ending...
The following information is available for Murray Manufacturing
at year-end:
Beginning raw materials inventory
6,000
Ending raw materials inventory
$8,000
Materials purchased
13,000
Direct labour
4,000
Manufacturing overhead Applied
15,000
Beginning work in process inventory
8,000
Ending working in process inventory
5,000
What was the cost of goods manufactured during the period?
Select one:
a. $16,000
b. $35,000
c. $28,000
d. $33,000
Exercise 5
When Job 711 was completed, direct materials totaled $3,000;
direct labor, $3,500; and factory...
Exercise 5
When Job 711 was completed, direct materials totaled $3,000;
direct labor, $3,500; and factory overhead, $1,500, respectively.
Units produced totaled 1,000. Unit costs are:
Select one:
a. $8,000
b. $800
c. $80
d. $8
Exercise 6
Compute conversion costs given the following data: Direct
Materials, $247,800; Direct Labor, $183,400; Factory Overhead,
$121,300.
Select one:
a. $431,200
b. $552,500
c. $304,700
d. $369,100
Exercise 7
Albany, Inc. has estimated total factory overhead costs of
$400,000 and 20,000 direct labor...
Use the following information to answer questions
[The following information applies to the questions
displayed below.]...
Use the following information to answer questions
[The following information applies to the questions
displayed below.]
The following information is available for Lock-Tite Company, which
produces special-order security products and uses a job order
costing system.
April 30
May 31
Inventories
Raw materials
$
32,000
$
36,000
Work in process
10,000
18,700
Finished goods
65,000
34,100
Activities and information for May
Raw materials purchases (paid with cash)
172,000
Factory payroll (paid with cash)
150,000
Factory overhead
Indirect materials
10,000
Indirect...
The following particulars were obtained from the books of a
light Engineering Company for the half...
The following particulars were obtained from the books of a
light Engineering Company for the half year ended 30th September,
2003.
The expenses for 6 months were:
Indirect material. 5,000
Stores overhead. 4,000
Depreciation. 6,000
Motive power. 1,500
Repairs & Maintenance. 1,500
Electric lighting. 800
General overheads. 10,000
Labour welfare. 3000
Worker's training, 700
Additional information:
Particulars
Production Departments
Service Departments
A
B
C
X
Y
Direct wages
7,000
6,000
5,000
1,000
1,000
Direct materials
3,000
2,500
2,000
1,500...
The following information is available for Lock-Tite Company,
which produces special-order security products and uses a...
The following information is available for Lock-Tite Company,
which produces special-order security products and uses a job order
costing system.
April 30
May 31
Inventories
Raw materials
$
49,000
$
50,000
Work in process
9,700
18,800
Finished goods
59,000
34,600
Activities and information for May
Raw materials purchases (paid with cash)
174,000
Factory payroll (paid with cash)
250,000
Factory overhead
Indirect materials
9,000
Indirect labor
57,500
Other overhead costs
109,500
Sales (received in cash)
1,900,000
Predetermined overhead rate based on...
1.)
The following company
information is available for March. The direct materials price
variance is:
...
1.)
The following company
information is available for March. The direct materials price
variance is:
Direct materials
purchased and used
3,400 feet @ $75 per
foot
Standard costs for
direct materials for March production
3,500 feet @ $73 per
foot
$500 favorable.
$6,800 unfavorable.
$7,000 unfavorable.
$6,800 favorable.
$7,000 favorable.
2.)
Georgia, Inc. has collected the
following data on one of its products. The direct materials
quantity variance is:
Direct materials
standard (3 lbs @ $1/lb)
$ 3...
ABC Manufacturing uses normal costing and allocates
manufacturing overhead to jobs based on a budgeted direct...
ABC Manufacturing uses normal costing and allocates
manufacturing overhead to jobs based on a budgeted direct
labor-hour rate for the actual direct labor hours. Any
overallocated or underallocated overhead is written-off to the cost
of goods sold at the end of the month. During April 2019, ABC
Manufacturing recorded the following:
Budgeted manufacturing overhead costs: $400,000
Budgeted direct labor-hours: 20,000 DLHRS
Budgeted machine hours: 16,000 MHRS
Actual manufacturing overhead costs: $360,000
Actual direct labor-hours: 22,500 DLHRS
Actual machine hours: 15,000...