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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Birect materials inventory at Beginning $9,000 Direct materials inventory at ending Work in process inventory at beginning $17,000 Work in process inventory at ending Finished goods inyentory at beginning Finished goods inventory at ending Total material purchased Depreciation for production $7,000 $31,000 $10,000 $15,000 50000 10000 direct labor costs 8000 5000 rent expense : The cost of goods manufactured for the year was
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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 Raw materials purchased 480,000 960,000 Direct labor 900,000 Manufacturing overhead Laflin Company's cost of goods manufactured for the year 720,000 is
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Question 38?
The following selected account balances are as at the end of the current period. Manufacturing direct labour $140,000 Direct materials purchased Variable manufacturing overhead Depreciation on plant equipment and building Sales commissions Direct materials used Head office overhead costs Marketing costs What are the conversion costs for the period? O $300,000 O $420,000 O $120,000 O $215,000 150,000 75,000 85,000 35,000 120,000 110,000 90,000
The following information relates to NBV for the year ended 31 July 20X3. $'000 Direct materials 160 Direct labour 200 Prime cost 360 Carriage outwards 880 Depreciation of delivery vehicles 30 Factory indirect overheads 450 Increase in work-in-progress inventory 75 Decrease in inventory of finished goods 55 What should be the factory cost of goods completed for the year ended 31 July 20X3? ...............................
2 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. $765,250 b. $762,850 c. $760,000 d. None of the answers given 3 David Furniture Ltd incurred the following actual costs during the year just ended: Direct material used $200,020 Direct labour $190,000 Manufacturing overhead $278, 000. The inventory balances, on 1 January, were as follows: Raw material $47 000; Work in process $61 500 Finished goods $65 000. Each of these inventory balances was 10 percent lower at the end of the year. The cost of goods manufactured is: Select one: a. None of the answers given b. $674,000 c. $670,000 d. 650,000 4 ABC Ltd prepares…