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Description: the prime cost 70 700 ID , manufacturing overhead 12 000 ID , beginning work inproces inventory 4 000 ID ,ending work inproces inventory 6 000 ID ,the cost of goods manufactured are

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Accounting

the prime cost 70 700 ID , manufacturing overhead 12 000 ID , beginning work inproces inventory 4 000 ID ,ending work inproces inventory 6 000 ID ,the cost of goods manufactured are

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 10MC: Direct material costs $3 per unit, direct labor costs $5 per unit, and overhead is applied at the...

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Overhead costs are assigned to each product based on __________________. A. the proportion of that products use of the cost driver B. a predetermined overhead rate for a single cost driver C. price of the product D. machine hours per product
Direct material costs $3 per unit, direct labor costs $5 per unit, and overhead is applied at the rate of 100% of the direct labor cost. What is the value of the Inventory transferred to the next department if beginning inventory was 2,000 units; 9,000 units were started; and 1.000 units were in ending inventory? A. $1,000 B. $13,000 C. $130.000 D. $20.000
Refer to the data in Problem 6.31. Assume that the FIFO method is used. Required: 1. Prepare a physical flow schedule. 2. Calculate equivalent units of production for direct materials and conversion costs. 3. Compute unit cost. Round to three decimal places. 4. Calculate the cost of goods transferred to Painting at the end of the month. Calculate the cost of ending inventory.
If the prime cost 35 350 ID., Manufacturing overhead 6 000 ID,beginning finished goods inventory 25 500 ID .ending finished goods inventory 25 000 ID.,beginning work inproces inventory 2 000 ID., ending work inproces inventory 3 000 ID.,the manufactured cost are
If the prime cost 35 350 ID., Manufacturing overhead 6 000 ID., beginning finished goods inventory 25 500 ID .ending finished goods inventory 25 000 ID., beginning work in process inventory 2 000 ID., ending work in process inventory 3 000 ID., the manufactured cost are
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Requirement 2. Show how to compute cost of goods manufactured. Use the following amounts: direct materials used, $19,000; direct labor, $6,000; manufacturingoverhead, $21,000; beginning Work-in-Process Inventory, $14,800; and ending Work-in-Process Inventory, $8,000. Cost of Goods Manufactured Direct Materials Used Direct Labor Manufacturing Overhead Total Manufacturing Costs Incurred during Period Total Manufacturing Costs to Account For Cost of Goods Manufactured Requirement 3. Using the results from Requirement 2, calculate the cost per unit for goods manufactured assuming 1,100 units were manufactured. ÷ = Unit product cost ÷ = Requirement 4. Beginning Finished Goods Inventory had 225 units that had a unit cost of $45 each. Ending Finished Goods Inventory has 250 units left.…
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