ort answer problems : alculate the Raw Material Consumed from the following details: Rs. Raw Materials purchased Sale of Material scrap 80,000 1,000 Opening stock of Raw Materials Closing stock of Raw Materials 12,000 21,000
Q: Gammil company has beginning and ending raw materials inventories of $96,000 and $120,000,…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: The Information bellow has taken from Al Rshad company Wages paid to labour: OMR. 70,000 Purchases…
A: Cost of goods manufactured = Opening WIP + Raw materials used + Direct Labor + Factory Overheads -…
Q: The following information is from the records of the Silver Company: Net direct materials purchase…
A: Formula: Ending inventory = Beginning inventory + Purchases - materials used
Q: Company XYZ has raw materials at the beginning of August of OMR150,000. During August, the company…
A: Raw materials inventory: Raw material inventories are the primary materials which are used in the…
Q: Assume the following: Purchases of raw materials $ 38,000 Beginning raw materials inventory $…
A: Material refers to the item that is important for the manufacturing of a product and without which…
Q: Given the following data: Beginning raw materials inventory $30,000 Materials purchased 65,000…
A: Inventory refers to the goods held by the business either for selling or for further production so…
Q: Assume the following: Purchases of raw materials $ 38,000 Indirect materials used in production $…
A: Direct materials are the materials or resources used in the production of a product that are…
Q: Understanding the Relationship between Cost Flows, Inventories, and Cost of Goods Sold Ivano Company…
A: Cost: Cost can be defined as the cash and cash equivalent incurred against the products or its…
Q: 1. Ascertain the prime cost from the following : Rs. Direct wages 50,000 5,000 Chargeable expenses…
A: Direct material=Opening raw material+Purchases-Returns-Closing stock=Rs 10,000+Rs 60,000-Rs 1,500-Rs…
Q: The following informationn was taken from the records of Afternoon Co.…
A: Accounts Payable A/c To bank $20000 By Opening balance $29000 To closing…
Q: The Information bellow has taken from Al Rshad company Wages paid to labour: OMR. 70,000 Purchases…
A: Cost sheet is a method of allocating total cost into different categories such as direct material…
Q: 1. Ascertain the prime cost from the following: Rs. Direct wages 50,000 Chargeable expenses 5,000…
A: Prime Cost = Raw materials consumed + Direct wages + Direct Expenses
Q: Raw materials purchased $254,000 Beginning raw materials inventory 12,000 Ending raw materials…
A: Cost sheet is a method of allocating total cost into different categories such as direct material…
Q: The Information bellow has taken from Al Wafa company wages paid to labour: OMR85,000, Purchases raw…
A: The term Cost of Goods Manufactured (COGM) refers to a schedule or statement that represents the…
Q: Beginning raw materials inventory was OMR70,000. During the month, OMR175,000 of raw materials was…
A: The direct materials are those which are used in producing or manufacturing a product. Any cost of…
Q: Company XYZ has raw materials at the beginning of August of OMR200,000. During August, the company…
A: Balance of raw material at the end of august = Beginning of raw material + Purchased of raw material…
Q: Barton Company has beginning work in process inventory of $144,000 and total manufacturing costs of…
A: Cost of goods manufactured means the cost incurred for manufacturing the finished product.
Q: Required: Cost of goods sold statement P1,100,000 6% of sales 2% of sales 300,000 240,000 Sales…
A: Raw materials are the direct materials that are used in the direct production of goods. The raw…
Q: 6. From the following information, prepare a cost sheet for period ended on 31" March 2021.…
A: Cost sheet is prepared to ascertain the total cost of goods manufactured and sold. WORKING NOTE.…
Q: Escudero Manufacturing Co. has provided you with the foll8Wing P 135,000 100,000 Raw materials…
A: Material purchased = P 135000 Opening material = P 100000 Closing material = P 175000 Material…
Q: An enterprise had the following opening and closing inventory balances in 2021: 1/1/21 12/31/21…
A: The financial position of the company can be arrived from the income statement prepared by the…
Q: Following data relates to Zain & Co, Opening stock of raw material Rs 80,000, Opening stock of work…
A: 1. PRIME COST :- A Prime cost may be defined as the addition of raw material cost and Direct labor…
Q: Q.3. Dunkel Ltd. started a factory in Navi Mumbai on 1st April 2013. furnished about its activity…
A: Answer to question number 3 Only this question can be answered as complete and understandable…
Q: The Information bellow has taken from Al Rshad company Wages paid to labour: OMR. 70,000 Purchases…
A: Cost of goods manufactured = Opening WIP + Raw materials used + Direct Labor + Factory Overheads -…
Q: Additional information: i. Inventory of raw materials RM24,000; inventory of finished goods…
A: Financial statement is prepared from the trial balance which include :- Profit and loss and…
Q: The Information bellow has taken from Al Wafa company wages paid to labour: OMR85,000, Purchases raw…
A: Cost of goods manufactured in the business shows total costs incurred on the production and…
Q: Raw materials purchases OMR 100,000 Direct labor OMR 75,000 Manufacturing overhead applied OMR…
A: Cost of goods sold shows actual costs incurred for total manufacturing costs with adjustment to…
Q: The following extract of costing information relates to commodity “A’ for the half year 31st…
A: Since you have asked multiple questions, we will answer the first full question for you. Kindly…
Q: All applicable Cases are available with McGraw-Hill’s Connect™Accounting. Cost of goods…
A: The question can be represented as follows
Q: Using the given information find the cost of direct material used: Ending inventory of raw materials…
A: Calculation of Direct Material Used
Q: The Information bellow has taken from Al Wafa company wages paid to labour OMR85,000, Purchases raw…
A: Correct answer is A OMR 328,000
Q: beginnlag inventories for the perlod arc: Raw Materlal Rs.10,000, Work in Process Ts.20,000…
A: A journal entry is a form of accounting entry that is used to report a business transaction in a…
Q: Determine the cost of goods manufactured? (Answer in 3 decimal places. No long explanation needed.…
A: Solution.. Cost of goods manufactured = Beginning work in process inventory + cost of goods…
Q: Data are as follows: Beginning balance of RM is 12,000; Purchases of materials totaled 400,000; Raw…
A: The cost of goods manufactured incudes the direct costs and overhead applied cost.
Q: From the following details compute cost of goods manufactured, Cost of goods sold Rs.2,00,000,…
A: Formula: Cost of goods manufactured = Opening stock of finished goods + Cost of goods sold
Q: Question Description Tang Company accumulates the following data concerning raw materials in making…
A: Standard price is the predetermined price that is the value of the product, this price plays an…
Q: Short answer problems : - Calculate the Raw Material Consumed from the following details: Rs. 80,000…
A: Raw material consumption refers to the amount of materials (in terms of quantity) used or consumed…
Q: Ryan company recorded the following data pertaining to raw material Y during the current year.…
A: The inventory is the item in which firms deals in order to earn profit. The inventory on hand and…
Q: Given the following data: Beginning raw materials inventory $30,000 Materials purchased 65,000…
A: Amount of raw materials used = Beginning raw material inventory + Material Purchased - Ending raw…
Q: Beginning raw materials inventory was OMR90,000. During the month, OMR175,000 of raw materials was…
A: Formula: Cost of direct materials used = Beginning raw materials + purchases - Ending raw materials…
Q: 1. Answer the following questions by analysing the T-accounts given below, Materials Inventory Work…
A: Since there are multi sub-parts, we will solve first three for you. To get the remaining sub-parts…
Q: 1. Answer the following questions by analysing the T-accounts given below Materials Inventory Work…
A: Variable cost: It is the cost that changes with the change in the level of units produce. It…
Q: Inventories: • Beginning - raw material_P50,000 - work in process_P40,000 - finished goods_P60,000…
A: Cost of goods manufactured is the total amount of cost incurred on manufacturing of goods. We are…
Q: Subject: Cost management & accounting QUESTION – 6** Following information relates to commodity…
A: A. Cost of goods manufactured - Cost of Goods Manufactured is the total cost incurred to…
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- Gammil company has beginning and ending raw materials inventories of $96,000 and $120,000, respectively. If direct materials used were $390,000, what was the cost of raw materials purchased? Question 7 options: $366,000 S414,000 $390,000 $420,000Question 1: Estimation of WC The management of ABC Company Limited has called for a statement showing the WC needed to finance a level of activity of 3,00,000 units of output per year. The cost statement of the company's product, for the above-mentioned activity level, is given below: Cost per unit TK 20 Direct material Direct labor Overhead Total cost Target profit Target selling price 5 TK 15 40 10 TK 50 1. Past records show that raw materials are held in stock, on an average, for two (2) months; 2. Work in process (WIP) will approximate to 15 days production; 3. Finished goods remain in warehouse on average for 1 month; 4. Suppliers for materials extend one month's credit; 5. Two months credit is normally allowed to customers (assume all sales are on credit) 6. A minimum cash balance of TK 5,00,000 is expected to be maintained; 7. The production pattern is assumed to be even during the year. Prepare a Statement of Working Capital RequirementsWhen Zee Corporation produces 25,000 units, its fixed cost is $21.00 per unit. Zee's fixed cost will if it produces 20,000 units. а. remain at $21.00 per unit b. increase by $5.25 per unit С. increase by $26.25 per unit d. decrease to $16.80 per unit а. С ОБ. В с. D O d. A
- Find the Prime Cost, conversion Cost, Cost of production, total cost, and profit from the following: Direct Materials Rs.20000;Direct Labor Rs. 10000; Factory Expenses Rs. 7000;Administration Expenses Rs. 5000; Selling Expenses Rs. 7000 and Sales Rs.60,000.3. Equivalent units of production based on FIFO are: 100,000 units material, 90,000 units conversion. Beginning inventory costs are: material, Php5,000; labor, Php4,000; and overhead of Php8,000, Current costs are: material, Php45,000; labor, Php80,000; and overhead of Php118,000. The unit cost of material is: A. Php 0.45 B. Php 0.50 C. Answer not given D. Php 1.40 E. Php 2.3314. You are given the following Company Information Company LFrom the point of origin Direct materials 120.000Purchases of direct materials 228000Direct labour costs 610000Direct cost initial cost 780000 The stock cost of direct materials is the amount?
- the following facts. Estimate the net working capital required for that project. Add 10% to your computed figure to allow for contingencies. Amount per unit (Tk.) Estimated cost per unit of production is: Raw material Direct labor Overheads depreciation) Total cost (exclusive Additional information: Selling price Level of activity 42.4 15.9 of 31.8 Raw material in stock Work in progress (50% completion) Finished goods in stock Credit allowed by suppliers Credit allowed to debtors Lag in payment of wages Cash at bank (expected) Assume that all sales are on credit. 90.1 Amount per unit (Tk.) Tk. 106 1,00,000units of production annually Average 4 weeks Average 2 weeks Average 4 weeks Average 4 weeks Average 8 weeks Average 1.5 weeks 1,25,000Total Manufacturing Costs ₱325,000 Applied Overhead Costs, 75% of direct labor cost ₱075,000 Selling expenses ₱316,000 Administrative expenses ₱314,000 What is the cost of direct materials? Show solution Group of answer choices ₱175,000 ₱193,750 ₱220,000 ₱150,000Prime Cost is Rs. 72,000, Direct Material Cost is Rs. 45,000, Direct Expenses is Rs. 12,000. Calculate Direct Labour cost a. Rs. 15,000 b. Rs. 27,000 c. Rs. 60,000 d. Rs. 1,29,000
- Total Manufacturing Costs ₱325,000 Applied Overhead Costs, 75% of direct labor cost ₱075,000 Selling expenses ₱316,000 Administrative expenses ₱314,000 What is the conversion cost? Show solution Group of answer choices ₱75,000 ₱100,000 ₱131,250 ₱175,000XYZ Ltd. has the following costs for 1,000 units: Total Cost Direct materials E 1.500 Direct labour 7,500 Depreciation on building 30,000 What is the total amount of direct materials for 100 units? a. £1.50 b. £225.00 c. £3.00 d. £150.00 Cost per Unit € 1.50 7.50 30.00Find the Prime Cost, conversion Cost, Cost of production, total Cost and profit from the following: Direct Materials Rs.20000; Di rect Labor Rs. 10000; Factory Expenses Rs. 7000; Administration Expenses Rs. 5000; Selling Expenses Rs. 7000 and Sales Rs.60,000.