List the letters (a) through (m) and indicate the amount pertaining to each letter. Raw Materials Inventory Dec. 1 Beginning balance (a) Dec. 31 Requisitions 18,950 31 Purchases 18,025 Dec. 31 Ending balance 8,125 Work in Process Inventory Dec. 1 Beginning balance (b) Dec. 31 Jobs completed (4) 31 Direct materials () Direct labor 31 Overhead (p) Dec. 31 Ending balance (a) Finished Goods Inventory Dec. 1 Beginning balance (g) Dec. 31 Cost of goods sold (!) 31 Completed jobs (4) Dec. 31 Ending balance (1) Factory Labor Dec. 31 Factory wages 12,225 Dec. 31 Wages assigned () Manufacturing Overhead Dec. 31 Indirect materials Dec. 31 Overhead applied (m) 31 Indirect labor (1) Other overhead 1,545 eTextbook and Media SAMSUNG Sunland Corporation's fiscal year ends on November 30. The following accounts are found in its job order cost accounting system for the first month of the new fiscal year. Other data: On December 1, two jobs were in process: Job No. 154 and Job No. 155. These jobs had combined direct materials costs of $9,950 and direct labor costs of $15,200. Overhead was applied at a rate that was 75% of direct labor cost. 1. 2. During December, Job Nos. 156, 157, and 158 were started. On December 31, Job No. 158 was unfinished. This job had charges for direct materials $4,400 and direct labor $5,200, plus manufacturing overhead. All jobs, except for Job No. 158, were completed in December. On December 1, Job No. 153 was in the finished goods warehouse. It had a total cost of $5,500. On December 31, Job No. 157 was the only job finished that was not sold. It had a cost of $4,300. 3. 4. Manufacturing overhead was $1,145 underapplied in December. List the letters (a) through (m) and indicate the amount pertaining to each letter. Raw Materials Inventory Dec. 1 Beginning balance (a) Dec. 31 Requisitions 18,950 Purchases 18,025 Dec. 31 Ending balance 8,125 Work in Process Inventory Dec. 1 Beginning balance (b) Dec. 31 Jobs completed (4) 31 Direct materials Direct labor 31 Overhead (p) Dec. 31 Ending balance Finished Goods Inventory Dec. 1 Beginning balance (g) Dec. 31 Cost of goods sold (!) Completed jobs (4) Dec. 31 Ending balance (!) Factory Labor 12,225 Wages assigned Factory wages () Dec. 31 Manufacturing Overhead Dec. 31 Overhead applied Indirect materials (m) Dec. 31 レし ナーン:rI SAMSUNG

Inventory information for Part 311 of Blossom Corp. discloses the following information for the month of June. June 1 Balance 302 units @$ 17 June 10 Sold 200 units @ $40 11 Purchased 795 units @$ 20 15 Sold 496 units @ $ 42 20 Purchased 498 units @$ 22 27 Sold 299 units @ $45 (a) Your answer is partially correct. Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under (1) LIFC FIFO. (1) (2) LIFO FIFO Cost of Goods Sold %24 19898 %24 18994 Ending Inventory %24 12092 %24 12996

dls.3

Inventories Raw materials, beginning Work in process, beginning Finished goods, beginning Cost of goods manufactured Cost of goods sold (not considering over- or underapplied overhead) Sales Predetermined overhead rate based on direct materials used $ 39,000 13,400 Required 2 9,750 96,290 0 84,200 101,000 Finished Goods Inventory 90% 1. Complete the T-accounts for each of the three Inventory accounts using the data provided in the above table. 2. Compute overapplied or underapplied overhead. Complete this question by entering your answers in the tabs below. Costs incurred for the period Raw materials purchases Direct materials used Direct labor used. Factory overhead (actual) Required 1 Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. Raw Materials Inventory Indirect materials used Indirect labor used Other overhead costs Work in Process Inventory 0 $19,460 45,250 23,800 10,300 17,400 5,300

Partially completed T-accounts and additional information for Dumfries Designs for the month of August follow: Materials Inventory Debit Credit BB (8/1) 166,800       683,800 611,800     Work-in-Process Inventory Debit Credit BB (8/1) 308,800     Labor 762,200       Finished Goods Inventory Debit Credit BB (8/1) 590,800       967,200 779,300     Cost of Goods Sold Debit Credit                   Manufacturing Overhead Control Debit Credit   647,880               Applied Manufacturing Overhead Debit Credit     638,600           Additional information for August follows: The labor wage rate was $37 per hour. During the month, sales revenue was $1,748,000, and selling and administrative costs were $326,400. This company has no indirect materials or supplies. The company applies manufacturing overhead on the basis of direct labor-hours. Required: What was the cost of direct materials issued to production…

Data for the two departments of Kimble & Pierce Company for June of the current fiscal year are as follows: Winding Department Drawing Department 5,900 units, 20% completed 1,600 units, 70% completed Work in process, June 1 Completed and transferred to next processing department during June Work in process, June 30 4,500 units, 85% completed Production begins in the Drawing Department and finishes in the Winding Department. 80,800 units Inventory in process, June 1 Started and completed in June Transferred to Winding Department in June Inventory in process, June 30 Total a. If all direct materials are placed in process at the beginning of production, determine the direct materials and conversion equivalent units of production for June for the Drawing Department. If an amount is zero, enter in "0". 80,200 units 2,200 units, 25% completed Drawing Department Direct Materials and Conversion Equivalent Units of Production For June Whole Units Direct Materials Conversion Equivalent Units…

McGown Corp has the following information: Raw Materials Inventory Work in Process Inventory Finished Goods Inventory Additional information for the year is as follows: Raw materials purchases Direct labor Manufacturing overhead applied Indirect materials. Beginning Ending Inventory Inventory (1/1) (12/31) $28,200 $30,900 $16,800 $ 23, 100 $30,300 $ 27,900 Multiple Choice Compute the direct materials used in production. $110,600 $30.900 $107, 900 $ 84,300 $ 85,100 $ 0 Prex

Two items are omitted from each of the following three lists of cost of goods manufactured statement data. Determine the amounts of the missing items, identifying them by letter. Work in process inventory, August 1 Total manufacturing costs incurred during August Total manufacturing costs Work in process inventory, August 31 Cost of goods manufactured a. $ b. $ C. $ d. $ e. f. $ $ 23,700 X 903,410 X 23,700 X 213,650 X 226,000 X 1,205,660 X $19,660 332,750 $41,650 (c) (a) $515,770 54,000 23,500 (b) (e) 1,075,000 $1,240,000 (f) (d) $1,068,000

3. Marzoni’s records show raw materials inventory had a beginning balance of $200 and an ending balance of $300. The cost of materials used during the month was $900. Entry labels available for this problem: Beginning inventory Manufacturing costs incurred Materials available for use Overhead applied Ending inventory Materials used in production Cost of goods manufactured Direct labor Purchases Using the entry labels listed above, complete the following T-account to determine what were the purchases made during the month? PLEASE NOTE: You must enter the entry labels exactly as written above and all entry amounts will be rounded to whole dollar amounts with "$" and commas as needed (i.e. $12,345). If no entry label is needed, please use "None" and if no entry amount is needed, please use "$0" - no quotation marks for either. You are to fill in cells beginning at the top of the T-account with any extra cells left at the bottom. Refer to the examples in the text for the proper…

Problem 1.a.: Computation of Direct Material Used.Akari Inc. provided the following information for its raw material inventory account at the end of the current month:Raw Materials (RM) InventoryAccounts                 $               Accounts                                       $Beginning balance $22,600     Direct materials (DM) used           ?Purchase                $88,400    Indirect materials used             $7,600Ending Balance      $27,200Required: Compute the missing information for the direct materials used during the current month.Solution: Formula: Beginning RM+ RM Purchased= Total RM available for use- Ending RM= RM used- Indirect material used= DM used