Lafilin company reported the followlng year-end Information: Beginning work in process inventory $1.080,000 Beginning raw materials inventory 300,000 Ending work in process inventory 900,000 Ending raw materials inventory 480,000 Raw materials purchased 960,000 Direct labor 800,000 Manufacturing overhead 720,000 Lafiln's Co. cost of goods manufactured for the year Is? a. $2300000 b. 2480000 c. 2120000 d. 2660000

Lafilin company reported the followlng year-end Information: Beginning work in process inventory $1.080,000 Beginning raw materials inventory 300,000 Ending work in process inventory 900,000 Ending raw materials inventory 480,000 Raw materials purchased 960,000 Direct labor 800,000 Manufacturing overhead 720,000 Lafiln's Co. cost of goods manufactured for the year Is? a. $2300000 b. 2480000 c. 2120000 d. 2660000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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ABC supplier incurred the following actual costs during the year just ended: Direct material used $210,500 Direct labour 185 000 Manufacturing overhead 380,000. The inventory balances, on 1 January, were as follows: Raw material $47 000 Work in process $61 500 Finished goods $60 000. Each of these inventory balances was 10 percent higher at the end of the year. The cost of goods sold is: Select one: a. None of the answers given b. $760,000 c. $762,850 d. $765,250
provide the correct answer
You are given the following information for the year ended 31 October 20X7: $ Purchases of raw materials 112,000 Returns inwards 8,000 Decrease in inventories of raw materials 8,000 Direct wages 42,000 Carriage outwards 4,000 Carriage inwards 3,000 Production overheads 27,000 Increase in work-in-progress 10,000 The value of factory cost of goods completed is A $174,000 B $182,000 C $183,000 D $202,000
A
A-2
ware Company reported the following: Manufacturing costs $2,000,000 Units manufactured 50,000 Units sold 47,000 units sold for $75 per unit Beginning inventory 0 units What is the average manufacturing cost per unit? Select one: a. $75.00 b. $0.025 C. $42.55 d. $40.00
1. What was the cost of goods sold for the year?
Provide correct solution for this question
5.Current information for the Stellar Corporation follows: $17,900 19,300 147,000 85,000 63,100 Stellar Corporation's Cost of Goods Manufactured for the year is: Beginning work in process inventory Ending work in process inventory Direct materials Direct labor Total factory overhead a. $293,700. b. $313,000. c. $295,100. d. $275,800.
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 P704,000
am. 106.
48.