Inventory type
Raw materials
Work in process
Finished goods
Balance, 4/1/18
300,000
2,650,000
4,000,000
Balance, 4/30/18...
Inventory type
Raw materials
Work in process
Finished goods
Balance, 4/1/18
300,000
2,650,000
4,000,000
Balance, 4/30/18
320,000
1,080,000
3,830,000
Amounts spent during
April
Raw material purchases
1,650,000
Direct labor wages
9,000,000
Overhead
Indirect
materials purchased
477,000
Indirect
labor
2,700,000
Factory
utilities
1,608,000
Factory
depreciation
920,000
What is cost of goods
manufactured for April?
What is cost of goods sold for
April?
Explain is Raw Material, Work in Progress, Finished goods and
cost of goods manufactured from manufacturing...
Explain is Raw Material, Work in Progress, Finished goods and
cost of goods manufactured from manufacturing company?
Bridgette Widget Wonderworld has developed inventory budget in
units:
Direct Material
Work in process
Finished Goods...
Bridgette Widget Wonderworld has developed inventory budget in
units:
Direct Material
Work in process
Finished Goods
April 1
April 30
Direct Material
40,000
50,000
Work in process
10,000
20,000
Finished goods
80,000
50,000
Three unit of direct material are needed to produce each unit of
finished product. IF 350,000 complete units were to be produced in
April. how many units of direct material
should be purchased?
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
Inventory
Beginning
Ending
Raw materials
$9,110
$14,750
Work in process
6,800
8,470
Finished goods
9,350
6,700...
Inventory
Beginning
Ending
Raw materials
$9,110
$14,750
Work in process
6,800
8,470
Finished goods
9,350
6,700
Costs incurred: raw materials purchases $55,260, direct labor
$48,920, manufacturing overhead $23,050. The specific overhead
costs were: indirect labor $6,340, factory insurance $4,510,
machinery depreciation $4,900, machinery repairs $1,930, factory
utilities $3,610, and miscellaneous factory costs $1,760. Assume
that all raw materials used were direct materials.
(a) Prepare the cost of goods manufactured
schedule for the month ended June 30, 2020.
ROBERTS COMPANY
Cost...
Sleep Tight manufactures comforters. The estimated inventories
on January 1 for finished goods, work in process,...
Sleep Tight manufactures comforters. The estimated inventories
on January 1 for finished goods, work in process, and materials
were $36,000, $31,000 and $27,000 respectively. The desired
inventories on December 31 for finished goods, work in process, and
materials were $43,000, $37,000 and $20,000 respectively. Direct
material purchases were $570,000. Direct labor was $230,000 for the
year. Factory overhead was $143,000.
Finished goods inventory, January 1
$
Work in process inventory, January 1
$
Direct materials:
Direct materials, January 1
$...
Sleep Tight
manufactures comforters. The estimated inventories on January 1 for
finished goods, work in process,...
Sleep Tight
manufactures comforters. The estimated inventories on January 1 for
finished goods, work in process, and materials were $37,000,
$34,000 and $25,000 respectively. The desired inventories on
December 31 for finished goods, work in process, and materials were
$44,000, $33,000 and $19,000 respectively. Direct material
purchases were $575,000. Direct labor was $206,000 for the year.
Factory overhead was $147,000.
Prepare a cost of
goods sold budget for Sleep Tight, Inc.
Sleep
Tight, Inc.
Cost of
Goods Sold Budget
For...
At the start of a month a company had work in process inventory
valued at $20,000....
At the start of a month a company had work in process inventory
valued at $20,000. At the end of the month work in process
inventory amounted to $15,000 and finished goods inventory to
$35,000. Opening finished goods totalled $56,000. Raw materials
inventories totalled $45,000 and $31,000 at the beginning and end
of the month respectively, and the company purchased raw materials
costing $139,000 during the month. Direct labour hours worked
during the month were 1,500 and the relevant rate...
Martin Enterprises
Inventories:
April 1
April 30
Raw material
$20,000
$17,000
Work in process
12,000
8,000...
Martin Enterprises
Inventories:
April 1
April 30
Raw material
$20,000
$17,000
Work in process
12,000
8,000
Finished goods
30,000
39,000
Additional information for April:
Raw material purchased
$45,000
Direct labor payroll
$36,000
Direct labor rate per hour
$8.00
Overhead rate per direct labor hour
$10.00
Refer to Martin Enterprises. For April, Cost of Goods
Manufactured was
Select one:
a. $133,000
b. $121,000
c. $125,000
d. $141,000