Darwin Company reports the following information: Sales Direct materials used Depreciation on factory equipment Indirect labor Direct labor Factory rent Factory utilities Sales salaries expense Office salaries expense Indirect materials Product costs are Oa. $35,000 Ob. $30,300 Oc. $24,500 Od. $29,200 $76,500 7,300 4,700 5,900 10,500 4,200 1,200 15,600 8,900 1,200

Direct Materials Direct Labor Manufacturing overhead Total Manufacturing costs Work-in-process 1/1 Work-in-process 12/31 Cost of goods manufactured Sales Finished Goods 1/1 Cost of Goods Available Finished Goods 12/31 Cost of Goods Sold Gross Profit Operating Expenses Net Operating Income Case 1 $36,000 $12,000 $78,000 $12,000 $66,000 $180,000 $42,000 $78,000 $54,000 Case 2 $5,000 $6,000 $21,000 $2,000 $33,000 $50,000 $9,000 $7,000 $10,000 a Calculate the unknown amounts for both Case 1 and 2 b For Case 1, compute the total prime costs for the year. c For Case 1, compute the total conversion costs for the year. d For Case 1, compute the average price per unit if the company sold 15,000 uni e For Case 1, compute the operating income per unit if the company sold 15,000 units f For Case 1, compute the POHR assuming Manufacturing overhead is applied based on DL cost g For Case 1, review beginning and ending work in process. As an auditor or manager what one question might you possibly…

Determine the missing amounts. $ Total Manufacturing Costs $272,800 $ $285,200 Work in Process (Jan. 1) $110,400 $425,600 $ Work in Process (Dec. 31) $75,200 $ $90,400 Cost of Goods Manufactured $306,800 $657,800

Product Cost Flows Complete the following T-accounts:   Materials Inventory   1,120       Answer Answer       18,120     250       Wages Payable     9,000       1,050           Finished Goods Inventory   1,500 Answer     Answer       1,200     Manufactured Overhead   175 Answer     Answer       18,000       4,500         0   Work in Process Inventory   3,500 Answer     Answer       9,000       Answer       500     Cost of Goods Sold   Answer             Save AnswersNext

Godo

Here is selected data for Lori Corporation: Cost of raw material purchased Cost of requisitioned direct materials Cost of requisitioned indirect materials Direct labor Manufacturing overhead incurred Cost of goods completed Cost of goods sold $77,000 43,000 3,000 80,000 100,000 233,500 OA. credit to Work-in- Process Inventory account for $237,500 OB. debit to Finished Goods Inventory account for $237,500 OC. debit to Finished Goods account for $233,500 OD. debit to Work-in-Process Inventory account for $233,500 142,000 17,000 32,000 35,000 130% Beginning raw materials inventory Beginning work in process inventory Beginning finished goods inventory Manufacturing overhead allocation rate (based on direct labor) The journal entry to transfer completed goods to the finished goods inventory account would include a

Domestic

Mason Company provided the following data for this year: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Inventories Raw materials Work in process Finished goods Beginning $ 8,600 $ 5,800 $ 71,000 Ending $ 10,800 $ 20,000 $ 25,400 $ 653,000 $ 82,000 $ 133,000 $ 106,000 $ 45,000 $ 223,000 $ 201,000 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. 2. Prepare a schedule of cost of goods sold. Assume the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. 3. Prepare an income statement.

A manufacturing company reports the following Beginning $ 18,720 10,100 13,160 Ending $ 12,700 11,900 9,330 Inventories Raw materials Work in process Finished goods Activities for the period Raw materials purchases $ 8,800 14,820 9,900 11,740 42,800 Direct materials used Direct labor used Overhead applied Sales 1. Prepare a schedule of cost of goods manufact 2. Compute gross profit. Complete this question by entering your an Required 1 Required 2 Prepare a schedule of cost of goods manufactured Schedule of Cost of Goods Manufactured Direct materials used Direct lahor

15. The Logicom Company reports the following information: Sales Direct materials used Depreciation on factory equipment Indirect labor Direct labor Factory rent Factory utilities Sales salaries expense Office salaries expense Indirect materials Product costs are A. $35,000 B. $29,200 C. $30,300 D. $24,500 $76,500 7,300 4,700 5,900 10,500 4,200 1,200 15,600 8,900 1,200