Sunset Manufacturing began 2024 with a Work in Process balance of $92,000. The year-end Work in Process balance was $88,000, and the Cost of Goods Manufactured was $750,000. Calculate the total manufacturing costs for 2024.

In Orion Industrial, for the year 2021, what is the cost of goods manufactured if the beginning work in process was $35,000, ending work in process was $40,000, raw materials used were $80,000, direct labor was $60,000, manufacturing overhead was $30,000, and marketing expenses $12,000?

At May 31, 2020, the accounts of Sheffield Company show the following. 1.   May 1 inventories—finished goods $ 14,800, work in process $ 17,600, and raw materials $ 8,600. 2.   May 31 inventories—finished goods $ 9,600, work in process $ 17,000, and raw materials $ 8,000. 3.   Increases to work in process were direct materials $ 64,300, direct labor $ 51,400, and manufacturing overhead applied $ 42,100. 4.   Sales revenue totaled $ 217,000. (a)     Prepare a condensed cost of goods manufactured schedule for May 2020. SHEFFIELD COMPANYCost of Goods Manufactured Schedulechoose the accounting periodchoose the accounting period   select an opening section nameselect an opening section name         $ enter a dollar amountenter a dollar amount select an account titleselect an account title     $ enter a dollar amountenter a dollar amount     select an account titleselect an account title     enter a dollar amountenter a dollar amount…

Financial Accounting

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Midwest Corporation has provided the following data concerning manufacturing overhead for 2020:        Estimated manufacturing overhead for the year $ 30,000 Estimated direct labor hours for the year   2,000 Two jobs were worked on during the year: Job A-101 and Job A-102. The number of direct labor-hours spent on Job A-101 and Job A-102 were 1,200 and 1,000, respectively. The actual manufacturing overhead was $37,000.What was the amount of manufacturing overhead applied to Job A-101?     $24,000.     $44,000.     $18,000.     $16,000.

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Winston Company estimates that the factory overhead for the following year will be $1,134,000. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 37,800 hours. The total machine hours for the year were 54,300 hours. The actual factory overhead for the year was $1,652,000.   Required:   (a) Determine the total factory overhead amount applied.   (b) Calculate the overapplied or underapplied amount for the year. Enter the amount as positive values.   (c) Prepare the journal entry to close Factory Overhead into Cost of Goods Sold. Refer to the Chart of Accounts for exact wording of account titles.

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Winston Company estimates that the factory overhead for the following year will be $1,250,000. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 50,000 hours. The total machine hours for the year were 54,300. The actual factory overhead for the year was $1,375,000. Determine the over- or underapplied amount for the year. Oa. $17,500 underapplied Ob. $118,250 underapplied Oc. $17,500 overapplied Od. $118,250 overapplied