The following data are given by Domestic Mfg. Corp: increase in finished goods inventory - P 12,000; decrease in raw materials inventory - P 10,000; increase in work in process inventory - P 5,000; purchase returns and allowances - P 6,000; freight in - P 7,000; labor cost - P 65,000; factory overhead - P 25,000; cost of goods sold - P 153,000. How much must be raw materials purchases?

Sun Inc. has provided the following information: $ 60,000 55,000 Beginning Work-in-Process Inventory Beginning Raw Materials Inventory Purchases and Freight In of Raw Materials Ending Raw Materials Inventory 315,000 80,000 Direct Labor 70,000 Depreciation-Plant and Equipment Plant Utilities, Insurance, and Property Taxes 25,000 15,500 Ending Work-in-Process Inventory Selling and distribution overhead 23,000 40,000 Calculate the cost of goods manufactured. a) $412,500 b) $437,500 c) $477,500 d) $422,000

XYZ Company uses normal costing. Following are various cost and inventory data for the just completed year: Sales revenue OMR420,000; Adjusted gross profit OMR175,000; Selling and admin expenses OMR145,000; Overapplied overhead OMR15,000; Prime costs OMR155,000; Work in process inventory has increased by OMR10,000; Finished goods inventory has decreased by OMR20,000. How much is the manufacturing overhead costs applied to work in process during the year? Select one: O a. OMR80,000 b. None of the answers given c. OMR95,000 d. OMR85,000 x e. OMR105,000

1. For The period just ended, the gross margin of Robin Company was P 3,840,000, the cost of goods manufactured was P 13,6000,000; the work in process inventory increased by P400,000 and finished goods ending inventories increased by P400,000 during the year, but the materials inventories decreased by P 120,000. Assuming that factory overhead is applied to production at 150% of direct labor cost but only 45% of material cost, how much is the total factory overhead applied to production? 2. A machine shop manufactures a stainless-steel part that is used in an assembled product. Materials charged to a particular job amounted to P6,000. At the point of final inspection, it was discovered that the material used was inferior to the specifications required by the engineering department; therefore, all units had to be scrapped. The revenue received for scrap is to be treated as a reduction in manufacturing cost but cannot be identified with a specific job. A firm price is not determinable for…

Tory Inc. provided the following data at current year-end: Finished goods in storeroom, at cost including overhead of $400,000 - 2,000,000 Finished goods in transit, including freight charge of $20,000, FOB shipping point - 250,000 Finished goods held by salesmen, at selling price, cost, $100,000 - 140,000 Goods in process, at cost of materials and direct labor - 720,000 Materials - 1,000,000 Materials in transit, FOB destination - 50,000 Defective materials returned to suppliers for replacement - 100,000 Shipping supplies - 20,000 Gasoline and oil for testing finished goods - 110,000 Machine lubricants - 60,000 Instruction: Compute for the cost of inventory at current year-end.

Assume the following:  Purchases of raw materials $ 38,000 Beginning raw materials inventory $ 10,000 Ending raw materials inventory $ 14,000 Direct materials used in production $ 29,600 What was the amount of indirect materials used in production?

What is Cost of good sold?

The selected amounts that follow were taken from Kandace Corporation's accounting records: Raw material used Direct labor Total manufacturing costs Work in process inventory (1/1) $27,000 $35,000 $104,000 $19,000 Cost of goods manufactured $100,000 Cost of goods available for sale $175,000 Finished goods inventory (12/31) $60,000 Sales revenue $300,000 Selling and administrative expenses $125,000 Income tax expense $18,000 Required: Compute the following: a. Manufacturing overhead. b. Work-in-process inventory, 12/31. c. Finished-goods inventory, 1/1. d. Cost of goods sold.

2. A condensed income statement by product line for Master Energy Co. indicated the following for the Master Energy product line for the past year: Revenues and Costs Dollar Amount Sales $12,500,000 Cost of goods sold Gross profit Operating expenses Loss from operations 8,250,000 4,250,000 6,010,000 (1,760,000) It is estimated that 25% of the cost of goods sold represents fixed factory overhead costs and that 15% of the operating expenses are fixed. Because Master Energy is only one of many products, the fixed costs will not be materially affected if the product is discontinued. a. Prepare a differential analysis dated January 31st to determine whether Master Energy should be continued (Alternative 1) or discontinued (Alternative 2). b. Should Master Energy be retained? Explain.

8. complete the following table to determine what are the total costs to account for if a company’s beginning inventory had $231,432 in materials, $186,450 in conversion costs, and added direct material costs ($4,231,392), direct labor ($2,313,392), and manufacturing overhead ($1,156,696)? PLEASE NOTE: All dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345). If no dollar amount is needed for that space, please enter "$0" with no quotation marks.   Material Costs Conversion Costs Total Costs Beginning work in process ? ? x     Added: ? ? x Direct materials ? ? x Direct labor ? ? x Manufacturing overhead ? ? x Total Costs ? ? ?