Wasik Company had the following inventory balances at the beginning and end of August 2013:   August 1 August 31 Raw material inventory 58,000 84,000 Work in Process Inventory 372,000 436,000 Finished Goods Inventory 224,000 196,000 All raw material is direct to the production process. The following information is also available about August manufacturing costs:   Cost of raw material used 612,000   Direct labor cost 748,000   Manufacturing overhead 564,000   a.) Calculate the cost of goods manufactured for August

[The following information applies to the questions displayed below.] The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Garcon Company Pepper Company Finished goods inventory, beginning $ 14,100 $ 17,800 Work in process inventory, beginning 16,800 21,300 Raw materials inventory, beginning 9,600 12,300 Rental cost on factory equipment 29,250 26,200 Direct labor 24,400 38,200 Finished goods inventory, ending 21,050 13,800 Work in process inventory, ending 22,900 20,200 Raw materials inventory, ending 6,300 7,600 Factory utilities 12,150 17,000 General and administrative expenses 28,000 50,000 Indirect labor 14,200 13,120 Repairs—Factory equipment 5,300 2,250 Raw materials purchases 44,500 64,500 Selling expenses 53,600 53,200 Sales 297,090 381,210 Cash 34,000 24,200 Accounts receivable, net 14,000 20,200 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for…

he following information is obtained from the company’s records for 2014:a. Total manufacturing costs, P8,000,000b. Cost of finished goods manufactured, P7,920,000c. Manufacturing overhead applied, P3,600,000d. Manufacturing overhead was applied to production at a rate of 200% of direct laborcostse. The peso amount of work in process inventory on January 1, 2014 was P320,000.What is the peso amount of work in process inventory on December 31, 2014?a. P400,000b. P800,000c. P500,000d. P320,000

The following information has been taken from the perpetual inventory system of Imperial Manufacturing Company for the month ended September 30: Purchases of direct materials $ 91,000 Direct materials used $ 71,600 Direct labor costs assigned to production $ 28,000 Manufacturing overhead costs incurred $ 49,500 Balances in inventory September 30 September 1 Materials $ ? $ 67,000 Work in Process $ 41,000 $ 54,500 Finished Goods $ 68,000 $ 73,000 The cost of finished goods manufactured in September is:

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 $

The following balances are from the accounts of Tappan Parts:     January 1 (Beginning) December 31 (Ending) Direct materials inventory $ 22,300   $ 24,500   Work-in-process inventory   32,800     29,100   Finished goods inventory   5,800     7,100     Direct materials used during the year amount to $46,300 and the cost of goods sold for the year was $53,200.   Required: Prepare a cost of goods sold statement.

Cost per FIFO EUP In October, Pedraza Corp.'s production was 96,480 equivalent units for direct material, 87,840 equivalent units for direct labor, and 75,600 equivalent units for overhead. During October, direct material, conversion, and overhead costs incurred were as follows: Direct material $285,638 Conversion Overhead 303,437 153,360 Beginning WIP Inventory costs for October were $47,218 for direct material, $35,107 for direct labor, and $37,152 for overhead. The company had 12,960 EUP for direct material in October's beginning WIP Inventory, 14,400 EUP for direct labor, and 12,672 EUP for overhead. What was the October FIFO cost per EUP for direct material, direct labor, and overhead? Note: Round your answers to two decimal places. DM cost per EU S DL cost per EUS OH cost per EU S

Kris GmbH has provided the following information regarding their inventories: Total Manufacturing Costs: $781,227 Work-in-Process inventory, Jan 1: $52,821 Work-in-Process inventory, Dec 31: $70,682 Finished Goods inventory, Jan 1: $176,432 Finished Goods inventory, Dec 31: $146,452 What is Cost of Goods Sold for the year?

The following information is obtained from the company’s records for 2014: Total manufacturing costs, P8,000,000 Cost of finished goods manufactured, P7,920,000 Manufacturing overhead applied, P3,600,000 Manufacturing overhead was applied to production at a rate of 200% of direct laborcosts The peso amount of work in process inventory on January 1, 2014 was P320,000.What is the cost of direct materials used in 2014?a. P2,600,000b. P2,500,000c. P1,800,000d. P3,600,000

The accounts of JB Hi-FI Inc. showed the following balances at the beginning of March: Account Debit Raw Materials Inventory $40,000 Work-in-Process Inventory 34,000 Finished Goods Inventory 50,000 Manufacturing Overhead 23,000 During the month, direct materials amounting to $21,000 and indirect materials amounting to $5,000 were transferred to production. What is the ending balance in the Raw materials Inventory account following these two transactions? Group of answer choices $10,000 $14,000 $28,000 $61,000