Provide answer Cost of Goods Manufactured for a Manufacturing Company Two itemsare omitted from each of the following three lists of cost of goodsmanufactured statement data. Determine the amounts of the missingitems, identifying them by letter.#1Work in process inventory, $16,000#2#3$36,000 (e)November 1Total manufacturingcosts 112,000 (c)42,000incurred diring NovemberTotal manufacturing costs(a)210,00049,000Work in process incentory, 24,00048,000(f)November 30Cost of goods manufactured(b)(d)43,000

Definition of the Cost of Goods Manufactured: The Cost of Goods Manufactured (COGM) represents the…

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College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 2SEA: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Maupin...

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OReilly Manufacturing Co.s cost of goods sold for the month ended July 31 was 345,000. The ending work in process inventory was 90% of the beginning work in process inventory. Factory overhead was 50% of the direct labor cost. No indirect materials were used during the period. Other information pertaining to OReillys inventories and production for July is as follows: Required: 1. Prepare a statement of cost of goods manufactured for the month of July. (Hint: Set up a statement of cost of goods manufactured, putting the given information in the appropriate spaces and solving for the unknown information. Start by using cost of goods sold to solve for the cost of goods manufactured.) 2. Prepare a schedule to compute the prime cost incurred during July. 3. Prepare a schedule to compute the conversion cost charged to Work in Process during July.
Manufacturing income statement, statement of cost of goods manufactured Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of May: Instructions 1. For both companies, determine the amounts of the missing items (a) through (f), identifying them by letter. 2. Prepare Yakima Companys statement of cost of goods manufactured for May. 3. Prepare Yakima Companys income statement for May.
Glasson Manufacturing Co. produces only one product. You have obtained the following information from the corporations books and records for the current year ended December 31, 2016: a. Total manufacturing cost during the year was 1,000,000, including direct materials, direct labor, and factory overhead. b. Cost of goods manufactured during the year was 970,000. c. Factory Overhead charged to Work in Process was 75% of direct labor cost and 27% of the total manufacturing cost. d. The beginning Work in Process inventory, on January 1, was 40% of the ending Work in Process inventory, on December 31. e. Material purchases were 400,000 and the ending balance in Materials inventory was 60,000. No indirect materials were used in production. Required: Prepare a statement of cost of goods manufactured for the year ended December 31 for Glasson Manufacturing. (Hint: Set up a statement of cost of goods manufactured, putting the given information in the appropriate spaces and solving for the unknown information.)
SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Maupin Manufacturing Company. Prepare a schedule of cost of goods manufactured for the year ended December 31, 20--. Assume that all materials inventory items are direct materials. Work in process, January 1 77,000 Materials inventory, January 1 31,000 Materials purchases 35,000 Materials inventory, December 31 26,000 Direct labor 48,000 Overhead 20,000 Work in process, December 31 62,000
During the year, a company purchased raw materials of $77,321 and incurred direct labor costs of $125,900. Overhead Is applied at the rate of 75% of the direct labor cost. These are the inventory balances: Compute the cost of materials used in production, the cost of goods manufactured, and the cost of goods sold.
Cost of Goods Manufactured for a Manufacturing Company 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. $2,000 13,600 $16,600 (c) (a) $194,200 40,800 (d) 3,000 (b) (e) 97,100 $105,400 (1) $88,500
Cost of Goods Manufactured for a Manufacturing Company 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 $2,200 $18,900 (e) Total manufacturing costs incurred during August 15,200 (c) 111,200 Total manufacturing costs (a) $221,100 $120,700 Work in process inventory, August 31 3,300 46,400 (f) Cost of goods manufactured (b) (d) $101,400 a. b. c. d. e. f.
Cost of Goods Manufactured for a Manufacturing Company 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 $19,660 $41,650 (e) Total manufacturing costs incurred during August 332,750 (c) 1,075,000 Total manufacturing costs (a) $515,770 $1,240,000 Work in process inventory, August 31 23,500 54,000 (f) Cost of goods manufactured (b) (d) $1,068,000 a. $fill in the blank 1 b. $fill in the blank 2 c. $fill in the blank 3 d. $fill in the blank 4 e. $fill in the blank 5 f. $fill in the blank 6
Cost of Goods Manufactured for a Manufacturing Company 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, identi Work in process inventory, August 1 $19,660 $41,650 (e) Total manufacturing costs incurred during August 332,750 (c) 1,075,000 Total manufacturing costs (a) $515,770 $1,240,000 Work in process inventory, August 31 23,500 54,000 (f) Cost of goods manufactured (b) (d) $1,068,000 a. $ EA b. $ C. d. $ e. f. $ $ 69
Cost of Goods Manufactured for a Manufacturing Company 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 $2,000 $17,000 (e) Total manufacturing costs incurred during August 13,400 (c) 99,500 Total manufacturing costs (a) $198,900 $108,000 Work in process inventory, August 31 2,900 41,800 (f) Cost of goods manufactured (b) (d) $90,700 a. b. $ C. d. $ e. f. ( Previous Next Check My Work 5 more Check My Work uses remaining. All work saved. Email Instructor Save and Exit Submit Assignment for Grading %24 %24 %24 %24
Cost of Goods Manufactured for a Manufacturing Company 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. $ A LA $ $19,660 332,750 (a) 23,500 (b) $41,650 (c) $515,770 54,000 (d) (e) 1,075,000 $1,240,000 (f) $1,068,000
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