The following accounts are from last year's books of Sharp Manufacturing: Raw Materials Work In Process Debit Balance (a) Credit Debit (b) 158,000 174,000 Balance (b) 16,000 (c) (e) Credit e (f) 526,000 134,000 172,000 220,000 e Finished Goods Manufacturing Overhead Debit Credit Debit Credit Balance (f) e (g) 526,000 46,000 480,000 (b) (c) 24,000 (e) 220,000 28,000 (d) 160,000 8,000 Cost of Goods Sold Debit Credit (g) 480,000 Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs. What is the amount of direct materials used for the year? Multiple Choice $174,000 $134,000 $158,000 $172,000

Davis Manufacturing Company had the following data: January 1 December 31 Accounts receivable $27,000 $33,000 Materials inventory 22,500 6,000 Work in process inventory 70,200 48,000 Finished goods inventory 3,000 15,000 Collections on account were $625,000. Cost of goods sold was 68% of sales. Direct materials purchased amounted to $90,000. Factory overhead was 300% of the cost of direct labor. a. Compute sales revenue (all sales were on account). b. Compute cost of goods sold. c. Compute cost of goods manufactured. d. Compute direct materials used. $ e. Compute direct labor incurred. $ f. Compute factory overhead incurred.

. Iron Sheets Company had the following information for the month of June 2021. Sales Purchases Sales and administrative expenses V Factory overhead V Direct labor Shs. 257,000 92.000 79,000 37,000 25.000 Work in process, June 1 22,000 Work in process, June 30 Raw Material inventory, June 1 Raw Material inventory, June 30 Finished goods inventory, June 1 Finished goods inventory, June 30 18.500 6.000 8,000 21,000 25,000 Prepare the following: A manufacturing account  An income statement for the month ended June 30, 2021  The inventory section of the statement of financial statement.

! Required information [The following information applies to the questions displayed below.] Use the following selected account balances of Delray Manufacturing for the year ended December 31. $ 2,850,000 118,000 153,000 199,000 543,000 652,000 98,000 78,000 156,000 250,000 400,000 142,000 Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Indirect labor Repairs-Factory equipment Rent cost of factory building Selling expenses General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $1,472,000. Sales Cost of goods sold: Finished goods inventory, beginning Cost of goods manufactured DELRAY MANUFACTURING Income Statement For Year Ended December 31 Goods available for sale Less: Finished goods…

The WIP account given below relates to the activities of Jones Ltd for the month of April: WIP Inventory A/C Debit side : April1 Bal $15,000, Direct Material Used 123,000, Direct Labour Incurred ??, Manufacturing Overhead Applied ??,  Credit Side: Finished Goods ??, Additional data: Manufacturing Labour Costs incurred..$163,500 (75% represents direct labour),  Manufacturing Overhead Rate....120% of direct labour cost, Actual Manufacturing Overhead Costs for April...$165,150  Two jobs were completed with total costs of $183,000 and $105,000 respectively. They were sold on account at a mark-up of 50% on cost. After these transactions have been recorded, the balance in Cost of Goods sold account  (after adjusting ffor the MOH variace )is: a. 288,000  b. 306,000 c. 270,000  d. 432,000

The accounting records of EVAN Manufacturing Inc., include the following information: December 31 Work in Process Inventory Finished Goods Inventory Direct Materials Used Direct Labor P50,000 300,000 875,000 450,000 312,500 January 1 P125,000 350,000 Selling Expenses

Question: The accounting records of Dolphin Company revealed the following information: Total manufacturing costs $780,000 Work-in-process inventory, Jan. 1 81,000 Work-in-process inventory, Dec. 31 103,000 Finished goods inventory, Jan. 1 171,000 148,000 Finished goods inventory, Dec. 31 What is Dolphin's cost of goods sold?

The following accounts are from last year's books at Sharp Manufacturing: Bal (a) Bal (f) (g) Raw Materials 0 (b) 166,000 11,200 Finished Goods e (g) 513,200 49,200 Cost of Goods Sold 464,000 154,800 Bal (b) (c) (e) 464,000 (b) (c) (d) Work In Process 0 (f) 132,400 168,800 212,000 0 Manufacturing Overhead 22,400 (e) 26,400 156,800 513, 200 212,000 6,400 Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs. What is the manufacturing overapplied or underapplied for the year?

The following is extracted from the records of a manufacturing company for last year:     £ Sales 600,000 Inventory of direct materials as of 1st of January 39,000 Purchases of direct materials 158,000 Inventory of direct materials as of 31st of December 19,000 Direct manufacturing labour 28,000 Indirect manufacturing costs 45,000 Inventory of finished goods as of 1st of January 47,000 Cost of goods manufactured 121,000 Inventory of finished goods as of 31st of December 33,000 Selling and administrative costs 119,000   What is the company’s operating income?     a. £177,000   b. None of the above   c. £346,000   d. £95,000

COGS?