Inventories: Beginning Ending Raw materials 46,000 34,000 Work in process 31,000 29,000 Finished goods 27,000 55,000 Additional information: Raw materials purchases 79,000 Direct labor cost 93,000 Manufacturing overhead cost incurred 54,000 Indirect materials included in manufacturing overhead cost incurred 8,000 Manufacturing overhead cost applied to Work in Process 57,000 Calculate Gross Profit if, mark up is 30%
Inventories: Beginning Ending Raw materials 46,000 34,000 Work in process 31,000 29,000 Finished goods 27,000 55,000 Additional information: Raw materials purchases 79,000 Direct labor cost 93,000 Manufacturing overhead cost incurred 54,000 Indirect materials included in manufacturing overhead cost incurred 8,000 Manufacturing overhead cost applied to Work in Process 57,000 Calculate Gross Profit if, mark up is 30%
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 21E: Ellerson Company provided the following information for the last calendar year: During the year,...
Related questions
Question
Inventories: |
Beginning |
Ending |
Raw materials |
46,000 |
34,000 |
Work in process |
31,000 |
29,000 |
Finished goods |
27,000 |
55,000 |
|
|
|
Additional information: |
|
|
Raw materials purchases |
79,000 |
|
Direct labor cost |
93,000 |
|
Manufacturing overhead cost incurred |
54,000 |
|
Indirect materials included in manufacturing overhead cost incurred |
8,000 |
|
Manufacturing overhead cost applied to Work in Process |
57,000 |
|
Calculate Gross Profit if, mark up is 30%
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