The following month-end information is from the adjusted trial balance and other records of Roget Co. for November 2012. Raw materials inventory, beginning 18, 200Raw materials inventory, ending21, 300Work inprocess inventory, beginning 51, 400Work in process inventory, ending53, 200Rent, office8, 300Direct labor28, 400Raw materials purchased38, 200Advertising expense6, 300Utilities, factory6, 400Maintenance, factory 13, 200Rent, factory21,400 Instructions: Prepare the schedule of cost of goods manufactured for November.

Schedule of Cost of Goods ManufacturedRaw materials: Raw Materials Inventory, beginning $…

Answered: The following month-end information is…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 6PA: During the year, a company purchased raw materials of $77,321, and incurred direct labor costs of...

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During March, the following costs were charged to the manufacturing department: $14886 for materials; $14,656 for labor; and $13,820 for manufacturing overhead. The records show that 30,680 units were completed and transferred, while 2,400 remained in ending inventory. There were 33,080 equivalent units of material and 31,640 of conversion costs. Using the weighted-average method, what is the cost of inventory transferred and the balance in work in process inventory?
Masonrys records show the raw materials inventory had purchases of $1,000and an ending raw materials inventory balance of $200. If the cost of materials used during the month was $900, what was the beginning inventory?
The following data are taken from the general ledger and other records of Coral Park Production Co. on January 31, the end of the first month of operations in the current fiscal year: a. Prepare a statement of cost of goods manufactured. b. Prepare the cost of goods sold section of the income statement.
During the year, a company purchased raw materials of $77,321, 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: Compute the cost of materials used in production, the cost of goods manufactured, and the cost of goods sold.
Selected information concerning the operations of a company for the year ended December 31 is as follows: Work in process inventories at the beginning and end of the year were zero. Beginning inventory of finished goods was 9,650 (for 1,000 units). Cost of goods sold was 174,600. What was the companys finished goods inventory cost at December 31? a. 98,050 b. 29,100 c. 29,050 d. 40,600
The adjusted trial balance for Appleton Appliances, Ltd. on June 30, the end of its first month of operation, is as follows: The general ledger reveals the following additional data: a. There were no beginning inventories. b. Materials purchases during the period were 23,000. c. Direct labor cost was 18,500. d. Factory overhead costs were as follows: Required: 1. Prepare a statement of cost of goods manufactured for June. 2. Prepare an income statement for June. (Hint: Check to be sure that your figure for Cost of Goods Sold equals the amount given in the trial balance.) 3. Prepare a balance sheet as of June 30. (Hint: Do not forget Retained Earnings.)
Statement of cost of goods manufactured; income statement; balance sheet The adjusted trial balance for Rochester Electronics, Inc. on November 30, the end of its first month of operation, is as follows: The general ledger reveals the following additional data: a. There were no beginning inventories. b. Materials purchases during the period were 33,000. c. Direct labor cost was 18,500. d. Factory overhead costs were as follows: Required: 1. Prepare a statement of cost of goods manufactured for the month of November. 2. Prepare an income statement for the month of November. (Hint: Check to be sure that your figure for Cost of Goods Sold equals the amount given in the trial balance.) 3. Prepare a balance sheet as of November 30. (Hint: Do not forget Retained Earnings.)
The following data summarize the operations during the year. Prepare a journal entry for each transaction. A. Purchase of raw materials on account: $1,500 B. Raw materials used by Job 1: $400 C. Raw materials used as indirect materials: $50 D. Direct labor for Job 1: $200 E. Indirect labor Incurred for Job 1: $30 F. Factory utilities Incurred on account: $500 G. Adjusting entry for factory depreciation: $200 H. Manufacturing overhead applied as percent of direct labor: 100% I. Job 1 is transferred to finished goods J. Job 1 is sold: $1,000 K. Manufacturing overhead is under applied: $100
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.
The following data were taken from the records of Larkspur Company for the fiscal year ended June 30, 2025. Raw Materials Inventory 7/1/24 Raw Materials Inventory 6/30/25 Finished Goods Inventory 7/1/24 Finished Goods Inventory 6/30/25 Work in Process Inventory 7/1/24 Work in Process Inventory 6/30/25 Direct Labor Indirect Labor $57,500 41,500 96,300 22,100 21,300 28.200 142,650 26,760 Accounts Receivable Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Factory Manager's Salary Factory Property Taxes Factory Repairs Raw Materials Purchases Cash $29,900 4,900 17,000 31.100 8,550 561,300. 4,300 65,100 9.610 1,500 99,400 42.100
The following information has been obtained from the records of XYZ coroporation for the period from January 1 to June 30 2020 . Jan. 1-2020 June-30-2020 1. Cost of raw materials 30,000 25,000 2. Cost of work-in- progress 12,000 15,000 3. Cost of stock of finished goods 60,000 55,000 4.Transactions during six months are: 5. Purches of raw materials 4,50,000 6. Wages paid 2,30,000 7. Factory overheads 92,000 8. Factory overheads 30,000 9. Selling & Distribution overheads 20,000 10. Sales 9,00, 000 Prepare 1. Cost Sheet showing (a) Materials consumed ;(b) Prime cost ; (c) Factory cost incurred and factory cost... and 2. Income Statement intraditional form the six months showing gross profit and net profit
The following balances are from the accounts of Tappan Parts: January 1 (Beginning) Direct materials inventory Work-in- process inventory Finished goods inventory $ December 31 (Ending) 22,300 32,200 5,500 $ 25,400 29,300 7,200 Direct materials used during the year amount to $45,800 and the cost of goods sold for the year was $53,400. Required: Prepare a cost of goods sold statement

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