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)

Required: 1. Prepare a statement of cost of goods manufactured. 2. Prepare a statement of cost of go

C) what's is the cost per equivalent unit for materials ? ( round your answer to 2 decimal places.) D) what is the cost equivalent unit for conversion? (Round your answer to 2 decimal places.) E) what is the cost of units transferred out? (Round your cost per equivalent unit to 2 decimal places.)

Use the following information for the Exercises below. (Static) [The following information applies to the questions displayed below.] Note: Assume all raw materials were used as direct materials. Inventories Raw materials inventory Work in process inventory Finished goods inventory Activity during current year Raw materials purchased Direct labor Factory overhead Beginning of Year End of Year $ 6,000 12,000 8,000 $ 123,000 94,000 39,000 Cost of Direct Material Used is Computed as: $ 7,000 9,000 5,000 QS 14-16 (Static) Computing direct materials used LO P2 Compute the cost of direct materials used for the current year.

Prepare a schedule of cost of good manufactured.

Answer

Using the attached Prepare a schedule of cost of goods manufactured.

* Question Completion Status: Mon Inc. a manufacturer of jewellery reported the following last month Assembly line, jewellery manufacturing salaries Finished goods inventory, beginning Finished goods inventory, ending General & administrative expenses Indirect materials requisitioned to factory Production Supervisor, Salary Purchases of raw materials Raw materials inventory, ending Raw materials inventory, beginning Rent on production factory Rent, retail store Sales Utilities on manufacturing factory Utilities, retail store Wages, retail staff WIP inventory, beginning WIP inventory, ending Assume the Manufacturing Overhead is perfectly applied. Answer the following questions. NO COMMAS, NO $ What is the cost of raw materials used in production? What is Direct Labour? What is Manufacturing Overhead? What is the Total Manufacturing Costs? O What is the Cost of Goods Manufactured? Type here to search 18,000 17,000 20,000 22,000 17,500 21,000 28,000 19,000 18,000 19,000 18,000 200,000…

Raw materials inventory, January 1 $20000 Raw materials inventory, December 31 50000 Work in process, January 1 27000 Work in process, December 31 18000 Finished goods, January 1 60000 Finished goods, December 31 48000 Raw materials purchases 1700000 Direct labor 890000 Factory utilities 225000 Indirect labor 75000 Factory depreciation 500000 Operating expenses 630000 What is the cost of direct materials used during the period?

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