Partially completed T-accounts and additional information for Dumfries Designs for the month of August follow: Materials Inventory Debit Credit BB (8/1) 166,800       683,800 611,800     Work-in-Process Inventory Debit Credit BB (8/1) 308,800     Labor 762,200       Finished Goods Inventory Debit Credit BB (8/1) 590,800       967,200 779,300     Cost of Goods Sold Debit Credit                   Manufacturing Overhead Control Debit Credit   647,880               Applied Manufacturing Overhead Debit Credit     638,600           Additional information for August follows: The labor wage rate was $37 per hour. During the month, sales revenue was $1,748,000, and selling and administrative costs were $326,400. This company has no indirect materials or supplies. The company applies manufacturing overhead on the basis of direct labor-hours. Required: What was the cost of direct materials issued to production during August? What was the over- or underapplied manufacturing overhead for August? What was the manufacturing overhead application rate in August ?What was the cost of products completed during August? What was the balance of the Work-in-Process Inventory account at the end of August?  What was the operating profit for August? Any over- or underapplied overhead is written off to Cost of Goods Sold.

Equivalent Units of Production The following information concerns production in the Baking Department for August. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process-Baking Department Date Item August 1 Bal., 8,100 units, 3/5 completed 31 Direct materials, 145,800 units 31 Direct labor 31 Factory overhead 31 Goods finished, 147,600 units 31 Bal., ? units, 4/5 completed Debit Credit 291,600 85,120 47,882 ACCOUNT NO. 420,426 Balance Balance Debit Credit 12,960 304,560 389,680 437,562 17,136 17,136 a. Determine the number of units in work in process inventory at August 31. units

The following information pertains to Flaxman Manufacturing Company for April. Assume actual overhead equaled applied overhead. April 1 Inventory balances Raw materials Work in process Finished goods April 30 Inventory balances Raw materials Work in process Finished goods $123,700 118,700 77,400 $ 85,700 146,600 80,900 Costs of raw materials $119,200 purchased Costs of direct labor 101,300 Costs of manufacturing 62,600 overhead Sales revenues 352,000 During April Required a. Prepare a schedule of cost of goods manufactured and sold. b. Calculate the amount of gross margin on the income statement. Complete this question by entering your answers in the tabs below. Required Required A B Prepare a schedule of cost of goods manufactured and sold. FLAXMAN MANUFACTURING COMPANY Schedule of Cost of Goods Manufactured and Sold For April Raw materials available for use Direct raw materials used Total manufacturing costs Total work in process inventory Cost of goods manufactured Cost of goods…

Cost of Goods Sold, Cost of Goods Manifactured Glenville Company has the following information for April; Cost of direct materials used in production $41,000 Direct labor 55,000 Factory overhead 30, 000 Work in process inventory, April 1, 25,000 Work in process inventory, April 30, 41, 000 Finished goods mventory, April 1, 21,000 Finished goods inventory, Apnt 30, 17, 000 a. For April, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured. Glenville Company Statement of Cost of Goods Manufactured Total manufacturing costs incurred in April Total manufacturing costs

The following information concerns production in the Baking Department for August. All direct materials are placed in process at the beginning of production. Date Item Debit Credit BalanceDebit BalanceCredit August 1 Bal., 8,400 units, 2/5 completed     19,656   31 Direct materials, 151,200 units 302,400   322,056   31 Direct labor 88,540   410,596   31 Factory overhead 49,808   460,404   31 Goods finished, 153,300 units   444,402 16,002   31 Bal., ? units, 3/5 completed     16,002   a.  Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent. Line Item Description Amount 1.  Direct materials cost per equivalent unit   2.  Conversion cost per equivalent unit   3.  Cost of the beginning work in process completed during August   4.  Cost of units started and completed during August   5.  Cost of the ending work in process

Partially completed T-accounts and additional information for Dumfries Designs for the month of August follow: Materials Inventory Debit Credit BB (8/1) 165,200       682,200 610,200     Work-in-Process Inventory Debit Credit BB (8/1) 307,200     Labor 597,400       Finished Goods Inventory Debit Credit BB (8/1) 589,200       960,800 777,700     Cost of Goods Sold Debit Credit                   Manufacturing Overhead Control Debit Credit   482,920               Applied Manufacturing Overhead Debit Credit     473,800           Additional information for August follows: The labor wage rate was $29 per hour. During the month, sales revenue was $1,732,000, and selling and administrative costs were $324,800. This company has no indirect materials or supplies. The company applies manufacturing overhead on the basis of direct labor-hours. Required: What was the cost of direct materials issued to production…

The following information concerns production in the Finishing Department for May. The Finishing Department uses the Weighted average method. ACCOUNT Work in Process-Finishing Department ACCOUNT NO. Date Item Debit Credit Balance Debit Balance Credit May 1 Bal., 21,500 units, 65% completed 107,500 31 Direct materials, 105, 400 units 321,470 428,970 31 Direct labor 199, 300 628,270 31 Factory overhead 202, 500 830, 770 31 Goods transferred, 111,800 units 799, 370 31,400 31 Bal., ? units, 35% completed 31,400 a. Determine the number of units in work in process inventory at the end of the month. fill in the blank 1 of 1 units b. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for May. Assume that direct materials are placed in process during production. Line Item Description Units Whole units to be accounted for fill in the blank 1 of 3 units Whole units to be assigned costs fill in the blank 2 of 3 units Equivalent…

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Begin with the Work-in-Process———- Cutting T- acount, then complete each of the remaining T-accounts (Abbreviations used: COGS= Cost of Goods Sold, FG = Finished Goods, WIP = Work in-Process)

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