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- Holdaway Co., a manufacturer, had inventories at the beginning and ends of its current year as follows:
|
|
Beginning |
End |
|
Raw Materials |
11,000 |
15,000 |
|
Work In Process |
20,000 |
24,000 |
|
Finished Goods |
12,500 |
9,000 |
During the year, the following costs and expenses were incurred:
Raw materials purchased 150,000
Direct labor cost 60,000
Indirect Factory Labor 30,000
Taxes and
On Factory Building 10,000
Taxes and Depreciation on
sales Room and Office 7,500
Sales Salaries 20,000
Office Salaries 12,000
utilities (60% applicable to factory,
20% to sales room, and 20% to office) 25,000
Holdaway’s cost of goods sold for the year is
a.257,000 b. 260,500 c. 261,000 d. 269,500
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- ASAP Natin ‘To! Corporation’s northwestern facility provided the following information for the last calendar year: Beginning inventory: Direct Materials P50,800 Work in process 58,500 Ending inventories: Direct Materials P21,500 Work in process 23,500 During the year, direct materials purchased amounted to P150,000, direct labor cost was P200,000, and overhead cost was P324,700. There were 100,000 units produced. What is the total cost of direct materials used in production? P179,300 P50,800 P150,000 P21,500 What is the cost of goods manufactured? P739,000 P704,000 P762,500 P179,300 How much is the cost of conversion? P524,700 P379,300 P704,000 P904,000 How much is the total prime cost? P524,700 P704,000 P904,000 P379,300 What is the total manufacturing cost? P379,300 P524,700 P904,000 P704,000arrow_forwardthe following data (in thousands of dollars) have been taken from the accounting records of Karstone Corporatino for the just completed year. Sales $880 Raw materials in inventory, beginning: $20 Raw materials inventory, ending: $30 Purchases of raw materials: $160 Direct labor: $180 Manufacturing overhead: $230 Administrative expenses $100 Selling expenses: $130 Work in process inventory, beginning: $80 Work in process inventory, ending: $30 Finished goods in inventory, beginning: $120 Finished goods in inventory, ending: $100 The cost of goods manufactured (finished) for the year (in thousands of dollars) was: $610 $600 $500 $630 Show work/calculationarrow_forwardPlease give me answer for this questionarrow_forward
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