The following data was taken from the general ledger and other records of Martinez Manufacturing Co. on July 31, the end of the first month of operations in the current fiscal year: Sales.........$50,000; Materials inventory (July 01)......15,000; Work in process inventory (July 01)..... 20,000; Finished goods inventory (July 01).......28,000; Materials purchased ...... 21,000; Direct labor.....12,500; Factory overhead (including $5,000 of indirect materials used and $2,500 of indirect labor cost).....11,500; Selling and Adminstrative expense.....8,000; Inventories on July 31: Materials.....16,000; Work in Process.....18,000; Finished good.....30,000 QUESTION: a) Prepare a statement of cost of goods manufactured b) determine the cost of goods sold for the month.

Selected nominal account balances of Seneca Products Corporation as of December 31, 2010 were as follows:   Direct Labor……………………………………………..$362,000 Direct Materials Purchases……………………………… 479,000 Manufacturing (factory) Overhead……………………… 145,000     Inventory Balances were as follows:                                                                                     January 1                     December 31 Work In Process                                                          $12,100                         $11,900 Direct Materials                                                             27,800                           26,200   prepare in proper form the SCHEDULE OF COST OF GOODS MANUFACTURED for the year ending December 31, 20CY

Gladstone Company tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period as if it uses a periodic inventory system. Assume its accounting records provided the following information at the end of the annual accounting period, December 31.  Transactions Units Unit Cost Beginning inventory, January 1   3,200   $ 45   Transactions during the year:             a. Purchase, January 30   4,550     55   b. Sale, March 14 ($100 each)   (2,850 )       c. Purchase, May 1   3,250     75   d. Sale, August 31 ($100 each)   (3,300 )         Assuming that for the Specific identification method (item 1d) the March 14 sale was selected two-fifths from the beginning inventory and three-fifths from the purchase of January 30. Assume that the sale of August 31 was selected from the remainder of the beginning inventory, with the balance from the purchase of May 1.

Equivalent Units of Production Data for the two departments of Kimble & Pierce Company for June of the current fiscal year are as follows: Work in process, June 1 Completed and transferred to next processing department during June Work in process, June 30 Inventory in process, June 1 Started and completed in June Transferred to Winding Department in June Inventory in process, June 30 Total Drawing Department 6,600 units, 50% completed 5,000 units, 50% completed 2,600 units, 10% Broduction begins in the Drawing Department and finishes h the Winding Department. 90,400 units a. If all direct materials are placed in process at the beginning of production, determine the direct materials and conversion equivalent units of production for June for the Drawing Department. If an amount is zero, enter in "0". Drawing Department Direct Materials and onversion Equivalent Units of Production For June Inventory in process, June 1 Started and completed in June Transferred to finished goods in June…

The following data was taken from recent annual reports of Wonka Bar Co.: Cost of goods sold $ 15,750 Inventory, end of year $ 6,000 Inventory, beginning of the yea $ 5,000 Determine the inventory turnover for Wonka Bar Co. Round to one decimal place.

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Consider the following transactions for DeTrees Company for the month shown in chronological order: In the table below, calculate the dollar value for the period for each of the following items using the listed cost allocation methods and using perpetual inventory updating.  PLEASE NOTE: All dollar amounts will be rounded to whole dollars using "$" with commas as needed (i.e. $12,345), except for the Weighted Average cost per unit, which will be rounded to two decimal places and include "$" (i.e. $12,345.67). Weighted average cost per unit =  per unit. Cost Allocation Method Cost of Goods Available Cost of Goods Sold Ending Inventory Sales Gross Margin First-in, First-out (FIFO)           Last-in, First-out (LIFO)           Weighted Average (AVG)

Orion Iron Corporation tracks the number of units purchased and sold throughout each year but applies its inventory costing method perpetually at the time of each sale, as if it uses perpetual inventory system. Assume its accounting records provided the following information at the end of the annual accounting period, December 31. Transactions a. Inventory, Beginning For the year: b. Purchase, April 11 c. Purchase, June 1 d. Sale, May 1 (sold for $47 per unit) e. Sale, July 3 (sold for $47 per unit) f. Operating expenses (excluding income tax expense), $18,700 Required: Units 300 Unit Cost $ 19 900 17 800 20 300 680 Calculate the cost of ending inventory and the cost of goods sold using the FIFO and LIFO methods. FIFO LIFO Cost of Ending Inventory $ 19,740 Cost of Goods Sold $ 17,260 $ 18,700

The towson company has gathered the following information for the month of September pertaining to its use of materials in Work in Process; beginning inventory had 4,500 (equivalent units of production) valued at $13,500; $202,000 of materials were added during th emonth ending inventory consisted of 16,000 (equivalent units of production) and 50,000 units were completed and transfered to the next department. What is the FIFO cost per equivalent units of production of materials added for the month of september? Round to the nearest $.001