None Manufacturing cost data for Larkspur Company are presented as follows. Determine the missing amount for each letter (a) through (i).Manufacturing cost data for Larkspur Company are presented as follows.Determine the missing amount for each letter (a) through (i).Direct materials used$Case ACase BCase C(a)$56,100$106,60070.50038,10066,900Direct labor46,700ManufacturingoverheadTotal manufacturing160,400costsWork in process1/1/22Total cost of work in181,600processWork in process12/31/22Cost of goods151,920manufactured(b)16,200(c)9,00083,600(d)208,000(e)276,300(f)57,400(g)(h)(i)

Step 1:Understanding of total manufacuring cost and cost of goods manufactured:- Manufacturing cost…

Answered: Manufacturing cost data for Larkspur…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 1PB: The following product costs are available for Stellis Company on the production of erasers: direct...

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The following data appeared in the accounting records of Craig Manufacturing Inc., which uses the weighted average cost method: Case 1All materials are added at the beginning of the process, and labor and factory overhead are added evenly throughout the process. Case 2One-half of the materials are added at the start of the manufacturing process, and the balance of the materials is added when the units are one-half completed. Labor and factory overhead are applied evenly during the process. Make the following computations for each case: a. Unit cost of materials, labor, and factory overhead for the month b. Cost of the units finished and transferred during the month c. Cost of the units in process at the end of the month
Davis Co. uses backflush costing to account for its manufacturing costs. The trigger points are the purchase of materials, the completion of goods, and the sale of goods. Prepare journal entries to account for the following: a. Purchased raw materials, on account, 70,000. b. Requisitioned raw materials to production, 70,000. c. Distributed direct labor costs, 15,000. d. Factory overhead costs incurred, 45,000. (Use Various Credits for the account in the credit part of the entry.) e. Completed all of the production started. f. Sold the completed production for 195,000, on account. (Hint: Use a single account for raw materials and work in process.)
The following product costs are available for Stellis Company on the production of erasers: direct materials, $22,000; direct labor, $35,000; manufacturing overhead, $17,500; selling expenses, $17,600; and administrative expenses; $13,400. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 13,750 equivalent units are produced, what is the equivalent material cost per unit? If 17,500 equivalent units are produced, what is the equivalent conversion cost per unit?
Kenkel, Ltd. uses backflush costing to account for its manufacturing costs. The trigger points are the purchase of materials, the completion of goods, and the sale of goods. Prepare journal entries to account for the following: a. Purchased raw materials, on account, 80,000. b. Requisitioned raw materials to production, 80,000. c. Distributed direct labor costs, 10,000. d. Factory overhead costs incurred, 60,000. (Use Various Credits for the account in the credit part of the entry.) e. Completed all of the production started. f. Sold the completed production for 225,000, on account.
Statement of cost of goods manufactured and income statement for a manufacturing company The following information is available for Robstown Corporation for 20Y8: Instructions 1. Prepare the 20Y8 statement of cost of goods manufactured. 2. Prepare the 20Y8 income statement.
Manufacturing cost data for Martinez Company are presented as follows. Indicate the missing amount for each letter (a) through (i). Direct materials used Direct labor Manufacturing overhead Total manufacturing costs Work in process 1/1/27 Total cost of work in process Work in process 12/31/27 Cost of goods manufactured EA Case A 54,400 44,400 187,700 212,400 177,820 (a) (b) (c) Case B $65,900 82,400 78,100 37,200 10,400 (d) (e) (f) Case C $124,800 97,600 243,000 323,200 67,200 (h) (i)
Manufacturing cost data for Sheffield Company are presented below. (a) Indicate the missing amounts for each letter (a) through (i). Direct materials used Direct labor Manufacturing overhead Total manufacturing costs Work in process 1/1/20 Total cost of work in process Work in process 12/31/20 Cost of goods manufactured $ Option A 51,200 44,600 179,400 203,000 $170,800 (a) (b) (c) $ Option B $93,900 43,200 43,800 23,600 32,100 (e) $ Alamat Option C $75,200 50,200 179,100 200,000 34,200 (h) ()
View Policies Current Attempt in Progress Manufacturing cost data for Marin Company are presented as follows. Determine the missing amount for each letter (a) through (i). Direct materials used Direct labor Manufacturing overhead Total manufacturing costs Work in process 1/1/22 Total cost of work in process Work in process 12/31/22 Cost of goods manufactured Save for Later Case A 72,000 58,800 250,100 282,800 237,020 (a) (b) (c) Case B $88,300 109,600 103,700 85,200 13,600 (d) (e) (f) Case C Attempts: 0 of 7 used $166,400 129,600 323,000 430,400 89,600 (g) (h) (i) Submit Answer
Determine the missing amount for each separate situation involving manufacturing costs. Direct materials used Direct labor used Factory overhead Total manufacturing costs $ (1) 8,900 $ 4,900 5,900 S (2) 14,900 23,900 50,900 $ (3) 18.900 22,900 72.900
Given the following data for Carla Vista Company, compute (A) total manufacturing costs and (B) costs of goods manufactured: Direct materials used Direct labor Manufacturing overhead Operating expenses O (A) $940000 $920000 $940000 $960000 $350000 Beginning work in process $40000 Ending work in process Beginning finished goods 420000 Ending finished goods (B) 270000 320000 $960000 $960000 $920000 $980000 20000 50000 30000
Requirement 2. Show how to compute cost of goods manufactured. Use the following amounts: direct materials used, $19,000; direct labor, $6,000; manufacturingoverhead, $21,000; beginning Work-in-Process Inventory, $14,800; and ending Work-in-Process Inventory, $8,000. Cost of Goods Manufactured Direct Materials Used Direct Labor Manufacturing Overhead Total Manufacturing Costs Incurred during Period Total Manufacturing Costs to Account For Cost of Goods Manufactured Requirement 3. Using the results from Requirement 2, calculate the cost per unit for goods manufactured assuming 1,100 units were manufactured. ÷ = Unit product cost ÷ = Requirement 4. Beginning Finished Goods Inventory had 225 units that had a unit cost of $45 each. Ending Finished Goods Inventory has 250 units left.…
Raynor manufacturing company has the following data : Direct labor 46000 Direct materials 84000 Total manufacturing overhead 60000 Ending work in process 30000 Beginning of in process 40000 A- compute total manufacturing costs? B- cost of goods manufactured ?

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