XYZ Co. has the following information: Inventory at 1st Inventory at 31st Dec 2020 Jan 2020 Raw Materials Inventory OMR 20,000 OMR 30,000 Work in Process Inventory OMR 18,000 OMR 15,000 Finished Goods Inventory OMR 30,000 OMR 20,000 Additional information for the year as follows: Raw materials purchases OMR 100,000 Direct labor OMR 75,000 Manufacturing overhead applied OMR 85,000 Manufacturing overhead Actual OMR 80,000 Indirect materials OMR

XYZ Co. has the following information: Inventory at 1st Inventory at 31st Dec 2020 Jan 2020 Raw Materials Inventory OMR 20,000 OMR 30,000 Work in Process Inventory OMR 18,000 OMR 15,000 Finished Goods Inventory OMR 30,000 OMR 20,000 Additional information for the year as follows: Raw materials purchases OMR 100,000 Direct labor OMR 75,000 Manufacturing overhead applied OMR 85,000 Manufacturing overhead Actual OMR 80,000 Indirect materials OMR

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 12E: a. Based on the data in Exercise 17-11, determine the following: 1. Cost of beginning work in...

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Refer to the following data to answer the question: Direct material used Selling costs Indirect labour Administrative costs Depreciation on factory equipment Direct labour Overtime premiums paid Indirect materials The prime costs are: Select one: O a. $142 000. O b. $40 000. O c. $150 000. O d. $190 000. $ 150 000 $ 5.000 $ 7.000 $ $ $ Ent tit. $ $ Eft 10 000 70 000 40 000 20 000 45 000
ok t For each of the following independent cases (A to E), compute the missing values in the table: Case A C D E Prime Conversion Cost Cost $ 9,560 $ 16,470 $ 57,300 110,600 48,750 Direct Materials 3,950 10,130 41,500 20,500 Direct Manufacturing Labor Overhead 7,400 12,650 14,400 $ 10,860 25,200 24,300 Total Manufacturing Cost 42,730 69,250 57,500
Time left 1:27:10 XYZ Co. has the following information: Inventory at Inventory at 31st Dec 1st Jan 2020 2020 Raw Materials Inventory OMR 20,000 OMR 30,000 Work in Process OMR 15,000 OMR Inventory 18,000 Finished Goods Inventory OMR OMR 30,000 20,000 Additional information for the year is as follows:
O d. OMR160,000 O e. None of the given answers XYZ Company developed the following data for the current year: Ending work in process inventory OMR225,000 ; Direct materials used OMR96,000 ; Manufacturing Overhead applied OMR144,000 ; Cost of goods manufactured OMR350,000 ; Direct labor cost OMR240,000. Company's beginning work in process inventory is Select one: O a. OMR95,000 O b. OMR355,000 O c. OMR120,00 d. OMR605,000 O e. None of the answers given Next page rt 1 Jump to.. OM 18
Fill in the blanks: Mama Mia Corp. produces customized products. The following accounts appeared in the ledger as of December 31, 2020. Direct Materials 01.01 P220,500.00 Compute 12.31 378,000.00 Factory Overhead Compute Work In Process 01.01 178,500.00 DM Compute Compute DL 1,575,000.00 он 12.31 130,000.00| Accounts Payable 26,250.00 01.01 1,433,250.00 210,000.00 12.31 Sales
Info in images Question relating to the images: 3. Info in image "ACC PT2" 4. Compute the unadjusted cost of goods sold for the year. Do not include any underapplied or overapplied overhead in your answer. Unadjusted cost of goods sold [ ] 5. Assume that the $38,000 ending balance in Work in Process includes $8,600 of direct materials. Given this assumption, supply the information missing below: Direct materials $8,600 Direct labor [ ] Manufacturing overhead [ ] Work in process inventory $38,000
Info in images Continued info for question 1. Compute the predetermined overhead rate for the year. Predetermined overhead rate [ ] % 2. Compute the amount of underapplied or overapplied overhead for the year. [Underapplied OR Overapplied] overhead [ ] 3. Info in image "ACC REQ3" 4. Compute the unadjusted cost of goods sold for the year. Do not include any underapplied or overapplied overhead in your answer. Unadjusted cost of goods sold [ ] 5. Assume that the $38,000 ending balance in Work in Process includes $8,600 of direct materials. Given this assumption, supply the information missing below: Direct materials $8,600 Direct labor [ ] Manufacturing overhead [ ] Work in process inventory $38,000
a. Based on the data in Exercise 20-11 (attached), determine the following:1. Cost of beginning work in process inventory completed this period2. Cost of units transferred to finished goods during the period3. Cost of ending work in process inventory4. Cost per unit of the completed beginning work in process inventory, rounded to the nearest centb. Did the production costs change from the preceding period? Explain.c. Assuming that the direct materials cost per unit did not change from the preceding period, did the conversion costs per equivalent unit increase, decrease, or remain the same for the current period?
XOUT Inc.manufactures stone counter top cleaner in a continuous process and uses a process cost system. During the month the company started 500,000 gallons of raw material into process at a cost of $450,000. It takes 1.25 gallons of raw material to produce 1 gallon of cleaner. In addition the company spent $1,200,000 in direct labor cost and $2,000,000 in manufacturing OH. During the month 350,000 gallons of cleaner were complete and transferred to finished goods. 300,000 gallons of cleaner were sold for a total price of $3,100,000. At the end of the month the stone cleaner still in WIP inventory was 100% complete as to raw matl. and 35% complete as to direct labor and factory OH.
For each of the following independent cases A-D, compute the missing values: (Enter all amounts as positive v Total Current Beginning Work Ending Work in in Process Inventory Cost of Goods Case Manufacturing Costs Process Inventory Manufactured A. 2$ 5,200 $ 1,700 $ 700 B 1,700 1,420 2,610 C 580 1,590 7,310 D 8,850 1,050 6,775
Analyze T-accounts given below: Raw material inventory Balance $15 Purchased $245 Used Balance $30 Work-in-progress inventory $30 Cost of goods $245 manufactured S310 Balance Direct material $540 Direct labor Manufacturing overhead $130 Balance $40 Amount of indirect material used is: a. $230 b. $110 c. $120 d. $340
For each of the following independent cases (1 to 4), compute the missing values. Note: Enter all amounts as positive values. Case 1 Case 2 Case 3 Case 4 Beginning raw materials Raw materials purchases Indirect materials issued Ending raw materials $ 69 6,900 $ 25,000 $ 108,000 54,000 11,250 50,640 500 2,500 700 2,900 1,500 2,950 95,000 Direct materials used 14,300 33,420 Direct labor 37,000 122,750 Manufacturing overhead applied 61,000 38,950 30,280 539,830 Total current manufacturing costs 82,600 94,400 Beginning work in process 50,000 36,600 100,520 Ending work in process 43,150 237,600 Cost of goods manufactured 138,000 71,800 91,025 826,900 Beginning finished goods 77,000 52,900 Ending finished goods 79,000 30,100 398,100 Cost of goods sold 75,000 112,575 842,400