The following transactions pertain to Raff Manufacturing Company. 1- The company purchased materials of $15,000 cash. 2- The company consumed (used) materials of $40,000. 3- The company paid $2 per direct hour labor 4- The overhead cost $5 per direct hour. 5- Each unit of the final product consumes 30 minutes. 6- Total produced units during the year 10,000 unit. 7- Beginning inventories: materials $30,000; WIP $2,000; FG $3,000. 8- Ending inventories: materials $5,000; WIP $2,000; FG $3,000. 9- The company sold 5,000 units $100 per unit. 10- The operational expenses were $15,000. Instructions: Prepare the income statement.

the following data (in thousands of dollars) have been taken from the accounting records of Karstone Corporatino for the just completed year. Sales $880 Raw materials in inventory, beginning: $20 Raw materials inventory, ending: $30 Purchases of raw materials: $160 Direct labor: $180 Manufacturing overhead: $230 Administrative expenses $100 Selling expenses: $130  Work in process inventory, beginning: $80 Work in process inventory, ending: $30 Finished goods in inventory, beginning: $120 Finished goods in inventory, ending: $100 The cost of goods manufactured (finished) for the year (in thousands of dollars) was:  $610 $600 $500 $630 Show work/calculation

During the year, a company purchased raw materials of $77,319, and incurred direct labor costs of $125,900. Overhead is applied at the rate of 75% of the direct labor cost. These are the inventory balances: Ending $17,433 $16,428 Raw materials inventory Work in process inventory 241,437 234,422 Finished goods inventory 312,844 342,386 Compute the cost of materials used in production, the cost of goods manufactured, and the cost of goods sold. Cost of materials used in production Cost of goods manufactured Cost of goods sold Beginning $

A-6

Primare Corporation has provided the following data concerning last month’s manufacturing operations.   Purchases of raw materials $ 30,000 Indirect materials used in production $ 5,000 Direct labor $ 58,000 Manufacturing overhead applied to work in process $ 87,000 Underapplied overhead $ 4,000   Inventories Beginning Ending Raw materials $ 12,000 $ 18,000 Work in process $ 56,000 $ 65,000 Finished goods $ 35,000 $ 42,000   Required: 1. Prepare a schedule of cost of goods manufactured for the month (see picture below for reference). 2. Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold.

At the beginning of December, Altro Corporation had $26,000 of raw materials on hand. During the month, the Corporation purchased an additional $76,000 of raw materials. During December, $72,000 of raw materials were requisitioned from the storeroom for use in production. The credits entered in the Raw Materials account during the month of December total: Multiple Choice O $76.000 $72,000 $102,000 $26,000

September 1, purchased raw materials ($120 million direct materials, $10 million indirect materials) for $130 million cash September 2, moved all the raw material into production. September 22 the company records applied overhead at the rate of 80% of direct material costs September 29, paid cash for manufacturing labor services, $220 million ($200 million direct labor and $20 million indirect labor). September 30, actual costs of other overhead items was calculated to be $76 million. September 30, all the goods charged into production were completed and moved to Finished Goods Inventory Account. September 30, 95% of the completed goods were sold for cash at a markup of 15 % of the cost before adjusting for over or under applied overhead costs. i need only journal.

Newcomb Manufacturing Company was started on January 1, Year 1, when it acquired $3,900 cash from the issue of common stock. During the first year of operation, $2,700 of direct raw materials was purchased with cash, and $1,550 of the materials was used to make products. Direct labor costs of $2,900 were paid in cash. Newcomb applied $830 of overhead cost to the Work in Process account. Cash payments of $830 were were made for actual overhead costs. The company completed products that cost $3,500 and sold goods that had cost $2,720 for $3,900 cash. Selling and administrative expenses of $670 were paid in cash. Required a. Prepare T - accounts and record the events affecting Newcomb Manufacturing. Include closing entries. b1. Prepare a schedule of cost of goods manufactured and sold. b2. Prepare an income statement. b3. Prepare a balance sheet.