Raw Materials Inventory Work in Process Inventory Finished Goods Inventory Additional information for the year is as follows: Raw materials purchases Direct labor Manufacturing overhead applied Indirect materials $ 28,200 $ 30,900 $ 16,800 $ 23, 100 $ 30,300 $ 27,900 Multiple Choice Compute the direct materials used in production. $110,600 $30.000 $107,900 $ 84,300 $ 85,100 $ 0

Raw Materials Inventory Work in Process Inventory Finished Goods Inventory Additional information for the year is as follows: Raw materials purchases Direct labor Manufacturing overhead applied Indirect materials $ 28,200 $ 30,900 $ 16,800 $ 23, 100 $ 30,300 $ 27,900 Multiple Choice Compute the direct materials used in production. $110,600 $30.000 $107,900 $ 84,300 $ 85,100 $ 0

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 12E: a. Based on the data in Exercise 17-11, determine the following: 1. Cost of beginning work in...

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Inventory costing methods The purchases and issues of rubber gaskets (Materials Ledger #11216) as shown in the records of Hillsdale Corp. for November follow: Required: 1. Complete a materials ledger account similar to Figure 2-10 (the On Order columns should be omitted) for each of the following inventory costing methods, using a perpetual inventory system: a. FIFO b. LIFO c. Weighted average (carrying unit prices to five decimal places) 2. For each method, prepare a schedule that shows the total cost of materials transferred to Work in Process and the cost of the ending inventory. 3. If prices continue to increase, would you favor adopting the FIFO or the LIFO method? Explain. 4. When prices continue to rise, what is the effect of FIFO versus LIFO on the inventory balance for materials reported in the balance sheet? Discuss.
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Statement of cost of goods manufactured and income statement for a manufacturing company The following information is available for Shanika Company for 20Y6: Instructions 1. Prepare the 20Y6 statement of cost of goods manufactured. 2. Prepare the 20Y6 income statement.
0 jor pro se Used Balances: Direct Materials Work-in-Process Inventory Finished Goods Inventory Data table Direct Materials Used: Direct Materials Used Print Other information: Depreciation, plant building and equipment Direct materials purchases Insurance on plant Sales salaries Repairs and maintenance-plant Indirect labor Direct labor Administrative expenses Manufacturing Overhead: Cost of Goods Manufactured Beginning Ending $ Done Total Manufacturing Overhead Total Manufacturing Costs incurred during the Year Total Manufacturing Costs to Account For Requirements 1. Use the information to prepare a schedule of cost of goods manufactured. 2. What is the unit product cost if Clark manufactured 4,380 lamps for the year? 57,000 $ 22,000 103,000 67,000 50,000 52,000 $ 4 Clark, Corp. Schedule of Cost of Goods Manufactured Year Ended December 31, 2024 11,000 155,000 23,000 43,000 13,000 40,000 125,000 53,000 - X