FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Bledsoe Corporation has provided the following data for the month of November: Beginning $ 25,700 Ending $ 21,700 $ 17,700 $ 48,700 Inventories Raw materials Work in process Finished Goods Additional information: Raw materials purchases Direct labor cost $ 10,700 $56,700 Manufacturing overhead cost incurred Indirect materials included in manufacturing overhead cost incurred Manufacturing overhead cost applied to Work in Process Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. Required: Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold. Complete this question by entering your answers in the table below. Schedule of Schedule of COGS COGM $ 72,700 $ 92,700 $ 42,770 $ 4,070 $41,700arrow_forwardAcme Incorporated incurs the following costs during July: $ 12,600 27,100 Sales expense Direct labor Factory supplies Advertising 3,600 3,900 19,100 Raw material used *80% of this amount relates to the factory. Required: Calculate Acme's total manufacturing costs for July. Total manufacturing cost Administrative expense Plant depreciation Indirect labor Utilities $ 55,300 $ 22,600 7,300 9,100 11,100-arrow_forwardHelp fill outarrow_forward
- Give me answerarrow_forwardThe following costs were incurred in May: Direct materials $44,600 Direct labor $28,900 $18,400 Manufacturing overhead Selling expenses Administrative expense $23,200 $35,000 Prime costs during the month totaled: Multiple Choice $150,100 O $91,900 $47,300 $73,500arrow_forwardUsing the attached Prepare a schedule of cost of goods manufactured.arrow_forward
- Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials used in production Direct labor Manufacturing overhead applied to work in process Underapplied overhead Inventories Raw materials Work in process Finished goods Beginning $ 11, 200 $ 55,700 $ 33,700 Ending $ 19,900 $ 65,800 $ 42,800 $ 31,000 $ 4,940 $ 59,300 $ 87,600 $ 4,080 Required: 1. Prepare a schedule of cost of goods manufactured for the month. 2. Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold.arrow_forwardPlease solve this MCQs The following costs were incurred in May: Direct materials $ 43,100 Direct labor $ 24,800 Manufacturing overhead $ 18,100 Selling expenses $ 20,300 Administrative expense $ 28,700 Prime costs during the month totaled: $135,000 $86,000 $42,900 $67,900arrow_forwardPrimare Corporation has provided the following data concerning last month’s manufacturing operations. Purchases of raw materials $ 31,000 Indirect materials used in production $ 4,860 Direct labor $ 59,700 Manufacturing overhead applied to work in process $ 88,100 Underapplied overhead $ 4,120 Inventories Beginning Ending Raw materials $ 11,500 $ 18,600 Work in process $ 54,000 $ 65,900 Finished goods $ 33,600 $ 42,400 Required: Prepare a schedule of cost of goods manufactured for the month. Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold.arrow_forward
- 7arrow_forwardDomesticarrow_forwardTimbuk 3 Company has the following information for March: Cost of direct materials used in production $63,000 Direct labor 76,000 Factory overhead 21,000 Work in process inventory, March 1 56,000 Work in process inventory, March 31 49,680 Finished goods inventory, March 1 22,000 Finished goods inventory, March 31 16,000 a. For March, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured. Timbuk 3 Company Statement of Cost of Goods Manufactured $fill in the blank e11e4706704bfd4_2 $fill in the blank e11e4706704bfd4_4 fill in the blank e11e4706704bfd4_6 fill in the blank e11e4706704bfd4_8 Total manufacturing costs incurred during March fill in the blank e11e4706704bfd4_9 Total manufacturing costs $fill in the blank e11e4706704bfd4_10 fill in the blank e11e4706704bfd4_12 Cost of goods manufactured $fill in the blank e11e4706704bfd4_13…arrow_forward
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