cost of materials used 45000 direct labor costs 48000 factory overhead 39000work in process beginning 28000 what is the cost of goods sold
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- PREDETERMINED FACTORY OVERHEAD RATE Marston Enterprises calculates a predetermined factory overhead rate so that factory overhead may be applied to production during the month. It calculates the overhead using three different methods and then decides which one to use. Total estimated factory overhead costs are 600,000. Total estimated direct labor hours are 30,000. Total estimated direct labor costs are 1,200,000. Total machine hours are estimated to be 200,000. Calculate the predetermined overhead application rates based on (1) direct labor hours, (2) direct labor costs, and (3) machine hours.The Rolling Department of Kraus Steel Company had 200 tons in beginning work in process inventory (60% complete) on October 1. During October, 3,900 tons were completed. The ending work in process inventory on October 31 was 300 tons (25% complete). What are the total equivalent units for conversion costs?SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Sanchez Welding and 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 20,500 Materials inventory, January 1 11,000 Materials purchases 12,000 Materials inventory, December 31 13,000 Direct labor 9,500 Overhead 5,500 Work in process, December 31 10,500
- The following data is provided for Garcon Company and Pepper Company. Garcon Company Pepper Company Beginning finished goods inventory $ 14,200 $ 17,050 Beginning work in process inventory 16,000 20,100 Beginning raw materials inventory (direct materials) 9,500 13,350 Rental cost on factory equipment Direct labor 22,300 23250 32,250 33 300 22, 200 443400 20,900 37,400 Ending finished goods inventory 14,800 Ending work in process inventory 19,800 200 26, 200 5 800 5,800 Ending raw materials inventory Factory utilities 8,400 750 15,000 13,750 Factory supplies used (indirect materials) 10000 10,000 5,300 General and administrative expenses 25,500 46,000 Indirect labor 1,650 8,260 7,820 2,950 Repairs-Factory equipment Raw materials purchases Selling expenses 47,500 54,500 57,600 55,000 Sales 249,030 327,510 Cash 34,000 17,700 Factory equipment, net 277,500 148,825 Accounts receivable, net 16,600 22,450 Required: 1. Complete the table to find the cost of goods manufactured for both Garcon…Assume the following information from a schedule of cost of goods manufactured: Beginning work in process inventory $ 30,000Direct materials used in production $ 50,000Direct labor $ 60,000Total manufacturing costs to account for $ 207,000Ending work in process inventory $ 72,000 What is the manufacturing overhead applied to work in process?Direct materials used in production 187,200 Total manufacturing costs during the period Ending balance in Work in Process Manufacturing overhead 64,100 Direct materials purchased 341,000 23,100 188,600 How much is the direct labor cost?
- Bledsoe Corporation has provided the following data for the month of November: Ending $ 21,100 $ 10,100 $ 56,100 Inventories Beginning $ 25,100 $ 17,100 $ 48,100 Raw materials Work in process Finished Goods Additional information: $ 72,100 $ 92,100 $ 42,110 $ 4,010 $ 41,100 Raw materials purchases Direct labor cost Manufacturing overhead cost incurred Indirect materials included in manufacturing overhead cost incurred Manufacturing overhead cost applied to Work in Process Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. Required: Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold. Complete this question by entering your answers in the table below. Schedule of Schedule of COGM COGS Prepare a Schedule of Cost of Goods Sold. -....................................................... ................... BLEDSOE CORPORATION Schedule of Cost of Goods Sold Beginning finished goods inventory Cost of goods available for…Sheridan Company developed the following data: Beginning work in process inventory $ 120000 Direct materials used 520000 Actual overhead 640000 Overhead applied 610000 Cost of goods manufactured 1620000 Ending work in process 90000 How much are total manufacturing costs for the period? $1590000 $1770000 $1530000 $1250000Direct materials used in production Direct labor Total actual manufacturing overhead costs Over-applied Manufacturing overhead Beginning Work in Process inventory Cost of Goods Manufactured Decrease in Finished Goods Inventory Compute the Cost of Work put into process. P 500,000 400,000 300,000 24,000 120,000 1,400,000 100,000
- Aero Aluminum Inc. uses a process cost system. The records for May show the following information: Production Report Rolling Converting Units in process, May 1 5,000 10,000 Started during the month 20,000 Received from prior department 15,000 Finished and transferred 15.000 10,000 Finished and on hand 5,000 Units in process, May 31 5,000 15,000 Stage of completion.. 1/5 1/3 Production Costs Work in process, May 1: Costs transferred in from Rolling $50,000 Materials $5,000 5,000 Labor 6,450 5,500 Factory overhead. 3,550 3,500 Costs incurred during the month: Materials. 37,000 40,000 Labor 45,000 44,000 Factory overhead 50,000 37,000 Total. $147,000 $185,000 REQUIRED: Prepare a cost of production summary for each department. (Hint: When preparing the Converting production summary, refer to the Rolling production summary for the costs transferred in during the month.)cost of units in process at begining 50,000 cost of raw material used 148,000 direct labour cost incurred 115200 FOH incurred 86,400 what is unit costthe prime cost 70 700 ID , manufacturing overhead 12 000 ID , beginning work inproces inventory 4 000 ID ,ending work inproces inventory 6 000 ID ,the cost of goods manufactured are
