Question:75 Use the data given below. Direct labor hours Machine hours Depreciation on salespeople's autos Indirect materials Depreciation on trucks used to deliver uniforms to Depreciation on plant and equipment Indirect manufacturing labor Customer service hotline Plant utilities Direct labor cost Budget Actual 7,600 6,100 7,000 6,500 $ 21,500 $ 21,500 $ 49,000 $ 54,500 $13,000 $10,500 $ 66,000 $ 67,000 $ 39,000 $ 40,000 $ 19,500 $ 21,000 $ 35,000 $ 37,500 $ 71,000 $ 86,000 Requirement:1. Compute the predetermined manufacturing overhead rate.2. Calculate the allocated manufacturing overhead for the past year. The Alderman Company has prepared a sales budget of 48,000 finished units for a 3-month period. The company has an inventory of 14,000 units of finished goods on hand on December 31 and has a target finished goods inventory of 16,000 units at the end of the succeeding quarter. It takes 2 gallons of direct materials to make one unit of the finished product. The company has an inventory of 68,000 gallons of direct materials on December 31 and has a target ending inventory of 58,000 gallons at the end of the succeeding quarter. How many gallons of direct materials should Alderman Company purchase during the 3 months ending March 31? Tech Solvers produces 8-foot USB cables. During the past year, the company purchased 59,374,000 feet of plastic-coated wire at a price of $0.28 per foot. The standard of The direct material for the cables allows 8.56 feet of wire at a standard price of $0.26. During the year, the company used a total of 534,690 feet of wire to produce 69,400 8-foot cables. Calculate Tech Solvers' direct materials quantity variance for the year.

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

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ces The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Inventories Raw materials. Work in process Finished goods Beginning $ 7,000 $ 10,000 $ 20,000 Required 1 Required 2 Required 3 Ending $ 15,000 $ 5,000 $ 35,000 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. 2. Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. 3. Prepare an income statement. Complete this question by entering your answers in the tabs below. Mason Company Schedule of Cost of Goods Manufactured Beginning work in process inventory Direct materials: Prepare a schedule of cost of goods manufactured. Assume all raw materials used…

What is the cost of goods manufacturerd solution this general accounting question

A manufacturing company reports the following Beginning $ 18,720 10,100 13,160 Ending $ 12,700 11,900 9,330 Inventories Raw materials Work in process Finished goods Activities for the period Raw materials purchases $ 8,800 14,820 9,900 11,740 42,800 Direct materials used Direct labor used Overhead applied Sales 1. Prepare a schedule of cost of goods manufact 2. Compute gross profit. Complete this question by entering your an Required 1 Required 2 Prepare a schedule of cost of goods manufactured Schedule of Cost of Goods Manufactured Direct materials used Direct lahor

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Raw materials inventory, ending Purchases of raw materials Direct labor Manufacturing overhead Work in process inventory, beginning Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending $10 $110 $210 $220 $80 $20 $140 $150 Required: Answer the following questions (Show your computations) 1. Calculate the cost of the raw materials used in production during the year (in thousands of dollars) 2.Calculate the cost of goods manufactured (finished) for the year (in thousands of dollars) 3.Calculate the cost of goods sold for the year (in thousands of dollars)

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