Danica Corp. provided the following inventory balances and cost data for the month of June.   June 1 June 30 Direct Materials 30 000 40 000 Work in Process 15 000 20 000 Finished Goods 65 000 50 000 Production data for the month of June follows: Cost of goods manufactured 515 000 Factory overhead applied 150 000 Direct materials used 190 900 Actual factory overhead 144 000 Required: Compute the cost of goods sold under NORMAL COSTING

The following production and cost per EUP data are available for Vendome Corp for February: Units Completed during February 390,000 Units in ending inventory (100% complete as to direct material. 30% complete as to direct labor; 25% complete as to overhead) 55,500 Units completed during February 390,000 Direct Materials per EUP 7.50 Direct Labor per EUP 9 Overhead cost per unit 10.20 Use Weighted Average Method Questions: 1. What is the cost of the goods completed during February? 2. What is the cost of ending inventory at February 28? 3. What is the total cost to account for during February?

Sterling's records show the work in process inventory had a beginning balance of $4,000 and an ending balance of $3,000. The records also showed the following data for the month: Materials used Overhead applied Cost of goods manufactured $1,500 50 7,500 Entry labels available for this problem: Beginning inventory Manufacturing costs incurred Materials available for use Overhead applied Ending inventory Materials used in production Cost of goods manufactured Direct labor Purchases Using the entry labels listed above, complete the following T-account to determine how much direct labor was incurred during the month? PLEASE NOTE: You must enter the entry labels exactly as written above and all entry amounts will be rounded to whole dollar amounts with "$" 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…

The following data refer to the month of May for Bonita Components. Fill in the blanks. Direct materials inventory, May 1 Direct materials inventory, May 31 Work-in-process inventory, May 1 Work-in-process inventory, May 31 Finished goods inventory, May 1 Finished goods inventory. May 31 Purchases of direct materials Cost of goods manufactured during the month Total manufacturing costs Cost of goods sold Gross margin Direct labor Direct materials used Manufacturing overhead Sales revenue 3,900 4,000 5,200 2,800 500 25,000 87,000 89,300 22,000 20,500 108,000

Partially completed T-accounts and additional information for Dumfries Designs for the month of August follow: Materials Inventory Debit Credit BB (8/1) 165,200       682,200 610,200     Work-in-Process Inventory Debit Credit BB (8/1) 307,200     Labor 597,400       Finished Goods Inventory Debit Credit BB (8/1) 589,200       960,800 777,700     Cost of Goods Sold Debit Credit                   Manufacturing Overhead Control Debit Credit   482,920               Applied Manufacturing Overhead Debit Credit     473,800           Additional information for August follows: The labor wage rate was $29 per hour. During the month, sales revenue was $1,732,000, and selling and administrative costs were $324,800. 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…

Jarvene Corporation uses the FIFO method in its process costing system. The following data are for the most recent month of operations in one of the company's processing departments: Units in beginning inventory Units started into production Units in ending inventory Units transferred to the next department Percentage completion of beginning inventory Percentage completion of ending Inventory 390 4,330 320 4,408 Materials $18.00 The cost of beginning Inventory according to the company's costing system was $7,880 of which $4,807 was for materials and the remainder was for conversion cost. The costs added during the month amounted to $179.771. The costs per equivalent unit for the month were: Conversion $ 23,00 Materials 70% 70% Cost per equivalent unit Required: 1. Compute the total cost per equivalent unit for the month. Conversion 30x 40x 4

TaskMaster Enterprises employs a standard cost system in which direct materials inventory is carried at standard cost. TaskMaster has established the following standards for the prime costs of one unit of product.   Standard Quantity Standard Price Standard Cost Direct Materials 8 pounds $ 1.90 per pound $ 15.20 Direct Labor 0.25 hour $ 8.20 per hour 2.05           $ 17.25 During November, TaskMaster purchased 160,500 pounds of direct materials at a total cost of $288,900. The total factory wages for November were $43,000, 90% of which were for direct labor. TaskMaster manufactured 19,000 units of product during November using 142,500 pounds of direct materials and 5,010 direct labor-hours. What is the direct labor rate variance for November?