Lise the cost information below for Sundar Company to determine the cost of goods manafactured during the current yearDirect materials usedDirect labor used20,00025,50050,10011,700Factory overheadWork in process inventory, beginningWorkin process inventory, ending12,300Multiple Choice$45.500$95.000$44.900$95.600$75,000

Cost of goods manufactured = Beginning work in process + Total manufacturing costs - Ending work in…

Lise the cost information below for Sundar Company to determine the cont of goods manufactured cluring the casrent year 20,000 25,500 DO, 100 Direct materials used Direct labor used Factory overhead Work in process inventory beginning Work in process inventory, ending 11,700 12,300 Multiple Choice $45.500 $95.000 $44.900 O $95.600. $75,000

Lise the cost information below for Sundar Company to determine the cont of goods manufactured cluring the casrent year 20,000 25,500 DO, 100 Direct materials used Direct labor used Factory overhead Work in process inventory beginning Work in process inventory, ending 11,700 12,300 Multiple Choice $45.500 $95.000 $44.900 O $95.600. $75,000

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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services SQU Libraries SQU Portal Attendance English (en O b. OMR605 O c. OMR545 O d. OMR635 O e. OMR575 XYZ Company provided the following information regarding Product XY: Direct material costs OMR3 per unit of product; Direct labor costs OMR5 per direct labor hour; Predetermined overhead rate OMR10 per direct labor hour. The cost of a job for 550 units of product XY, which uses a total of 100 direct labor hours, is: Select one: Oa. OMR5,400 Ob. OMR3,300 Oc. OMR3,150 Od. None of the answers given e. OMR9,900 Total manutacturing costs assioned inclucted 10 units heom ofs tota mana
3. Data: DEPARTMENT 1 DEPARTMENT 2 DEPARTMENT 3 Actual direct labor hours Indirect cost rate per hour of direct labor Real indirect costs: Factory rental Factory supplies Indirect labor Factory fuel Utensils Cost of items sold Final inventory of work in process Final inventory of finished items 420 55 375 $ 3.95 $ 2.10 $ 4.00 $ 400 $ 250 $ 360 233 141 220 407 324 175 385 400 620 120 80 75 $8 750 1,760 $9,000 $ 7,050 2 300 940 5 400 2 800 1,500 REQUESTED: Using the data provided, prepare two groups of journal entries, one with an applied Manufacturing Overhead account and one without. Do the following: Record the indirect costs applied. Record the actual indirect costs Close the indirect costs applied against the control account Allocate overhead or under-applied overhead between work-in-process inventory, ending inventory of finished items, and cost of items sold.
1. Answer the following questions by analysing the T-accounts given below, www Materials Inventory Work in Process Inventory $ 18,000 360,000 Ending balance $ 14,000 Beg. balance Beg. balance $ 20,000 230,000 400,000 Ending balance $ 25,000 Direct Labor Finished Goods Inventory $225,000 $ 98,000 $230,000 Ending balance $ 5,000 Beg. balance Ending balance $110,000 Manufacturing Overhead Cost of Goods Sold $400,000 $400,000 a) Purchases of direct material b) The cost of direct material used c) Why does direct labor account has a credit balance of $5000? Explain d) Direct labor costs assigned to production e) The overhead as a percentage of direct labor costs f) Total manufacturing costs charged to the Work in Process Inventory account during the current year g) The cost of finished goods manufactured h) The year-end balance in the Work in Process Inventory account i) The cost of goods sold j) The total amount of inventory listed in the hear-end balance sheet k) Manufacturing overhead…
A. Total manufacturing cost? B. Work in Process, 01/01/x1? C. Work in Process, 12/31/x1?
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Question Content Area Laramie Technologies has the following data: Work in process inventory, beginning $45,000 Work in process inventory, ending 32,000 Direct labor costs 56,000 Cost of materials used 50,000 Factory overhead 28,000 Determine the cost of goods manufactured.$fill in the blank 1
Requirement 1. Calculate direct materials inventory on August 31, 2022. Determine the formula and then calculate the direct materials inventory value at August 31, 2022. (Work in millions. Use a minus sign or parentheses for numbers to be subtracted.) Direct materials available for production Direct materials inventory, August 31, 2022 Requirement 2. Calculate fixed manufacturing overhead costs for August. (Work in millions. Use a minus sign or parentheses for numbers to be subtracted.) Fixed manufacturing overhead costs
Question 1 options: Answer the following two questions using the information below:Preston Manufacturing uses a normal cost system and had the following actual data available for 20X5:Ending direct materials inventory $10,000Beginning WIP inventory 64,000Beginning finished goods inventory 58,000Direct materials purchased on account $ 70,000Direct materials used or requisitioned 90,000Direct labor cost incurred 130,000Factory overhead incurred (actual) 190,000Overhead is applied at 150 percent (1.5) of direct-labor costCost of goods manufactured 405,000Cost of goods sold 460,000The beginning balance of direct materials inventory must be: (HINT: use T-Accounts to solve)(Include "$" and "," (commas) in your answers.The ending balance of work-in-process inventory (before closing the manufacturing overhead accounts) must be:…
Please help me with required 1 and required 2 and do not give solution in image format thanku
Subject : Accounting
Fit Apparel Company reports the following data for its first year of operation. Cost of goods manufactured $155,100 0 90,500 Work in process inventory, beginning Work in process inventory, ending Direct materials used Direct Labor 85,000 60,000 100,600 Manufacturing overhead Finished goods inventory, beginning Finished goods inventory, ending What is the cost of goods sold? O A. $155,100 O B. $340,700 O C. $160,600 O D. $85,100 0 70,000