EBK ACCOUNTING PRINCIPLES
13th Edition
ISBN: 9781119411017
Author: Weygandt
Publisher: WILEY
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Chapter 19, Problem 15E
To determine
Introduction: Cost of goods manufactured refers to the overall
To present: The different cost items in the cost of goods manufactured schedule, income statement, and
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Use the following selected account balances of Delray Manufacturing for the year ended December 31.
Sales.
Raw materials inventory, beginning
Work in process inventory, beginning
Finished goods inventory, beginning
Raw materials purchases
how ma
Direct labor
Indirect labor
Repairs-Factory equipment
Rent cost of factory building
Selling expenses
General and administrative expenses
Raw materials inventory, ending
Work in process inventory, ending
Finished goods inventory, ending
Direct materials:
Raw materials inventory, beginning
Add: Raw materials purchases
*
Prepare its schedule of cost of goods manufactured for the year ended December 31.
DELRAY MANUFACTURING
Schedule of Cost of Goods Manufactured
For Year Ended December 31
14
O
16
$ 2,700,000
112,000
146,000
190,000
515,000
618,000
93,000
74,000
148,000
237,000
$
112,000
515,000
Q Search
379,000
134,000
175,000
228,000
17…
Answer the following questions by analysing the T-accounts given below.
a) Purchases of direct material
b) The cost of direct material used
c) Why does direct labor account has a credit balance of $5000? Explain
d) Direct labor costs assigned to production
e) The overhead as a percentage of direct labor costs
f) Total manufacturing costs charged to the Work in Process Inventory account during the current year
g) The cost of finished goods manufactured
h) The year-end balance in the Work in Process Inventory account
i) The cost of goods sold
j) The total amount of inventory listed in the hear-end balance sheet
k) Manufacturing overhead assigned to production
Christopher's Custom Cabinet Company uses a job order cost system with overhead applied as a percentage of direct labor costs.
Inventory balances at the beginning of 2018 follow:
Raw Materials Inventory
Work in Process Inventory
Finished Goods Inventory
$15,300
6,900
20,800
The following transactions occurred during January:
(a) Purchased materials on account for $26,800.
(b) Issued materials to production totaling $20,800, 90 percent of which was traced to specific jobs and the remainder of which was
treated as indirect materials.
(c) Payroll costs totaling $16,300 were recorded as follows:
$11,100 for assembly workers
2,000 for factory supervision
1,700 for administrative personnel
1,500 for sales commissions
(d) Recorded depreciation: $4,000 for factory machines, $500 for the copier used in the admidistrative office.
(e) Recorded $1,100 of expired insurance. Forty percent was insurance on the manufacturing facility, with the remainder classified as an
administrative expense.
(f)…
Chapter 19 Solutions
EBK ACCOUNTING PRINCIPLES
Ch. 19 - Prob. 1QCh. 19 - Prob. 2QCh. 19 - Prob. 3QCh. 19 - Prob. 4QCh. 19 - Prob. 5QCh. 19 - Prob. 6QCh. 19 - Prob. 7QCh. 19 - Prob. 8QCh. 19 - Prob. 9QCh. 19 - Prob. 10Q
Ch. 19 - 12. Identify the differences in the cost of goods...Ch. 19 - Prob. 12QCh. 19 - Prob. 13QCh. 19 - Prob. 14QCh. 19 - Prob. 15QCh. 19 - Prob. 16QCh. 19 - Prob. 17QCh. 19 - 19. Discuss whether the product costing techniques...Ch. 19 - Prob. 19QCh. 19 - Prob. 20QCh. 19 - Prob. 21QCh. 19 - Prob. 22QCh. 19 - Prob. 23QCh. 19 - Prob. 24QCh. 19 - Prob. 25QCh. 19 - Prob. 1BECh. 19 - Prob. 2BECh. 19 - Prob. 3BECh. 19 - Prob. 4BECh. 19 - Prob. 5BECh. 19 - Prob. 6BECh. 19 - Prob. 7BECh. 19 - Prob. 8BECh. 19 - Prob. 9BECh. 19 - Prob. 10BECh. 19 - Prob. 11BECh. 19 - Prob. 1DIECh. 19 - Prob. 2DIECh. 19 - Prob. 3DIECh. 19 - DO IT! 19-4 Match the descriptions that follow...Ch. 19 - Prob. 1ECh. 19 - E19-2 Presented below is a list of costs and...Ch. 19 - E19-3 Trak Corporation incurred the following...Ch. 19 - Prob. 4ECh. 19 - Prob. 5ECh. 19 - Prob. 6ECh. 19 - Prob. 7ECh. 19 - Prob. 8ECh. 19 - Prob. 9ECh. 19 - Prob. 10ECh. 19 - Prob. 12ECh. 19 - Prob. 13ECh. 19 - Prob. 14ECh. 19 - Prob. 15ECh. 19 - Prob. 16ECh. 19 - Prob. 17ECh. 19 - Prob. 18ECh. 19 - P19-1A Ohno Company specializes in manufacturing a...Ch. 19 - Prob. 2PSACh. 19 - Prob. 3PSACh. 19 - Prob. 4PSACh. 19 - Prob. 5PSACh. 19 - Prob. 1EYCTCh. 19 - Prob. 2EYCTCh. 19 - Prob. 3EYCTCh. 19 - Prob. 4EYCTCh. 19 - Prob. 5EYCTCh. 19 - Prob. 7EYCT
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