Urban Company manufacturers tables. If raw material used was $80,000 and Raw Material Inventory at the beginning and end of the period, respectively, was $17,000 and $21,000, what was amount of raw material was purchased?
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Urban Company manufacturers tables. If raw material used was $80,000 and Raw Material Inventory at the beginning and end of the period, respectively, was $17,000 and $21,000, what was amount of raw material was purchased?
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- Assume the following: Purchases of raw materials $ 38,000 Beginning raw materials inventory $ 10,000 Ending raw materials inventory $ 14,000 Direct materials used in production $ 29,000 What was the amount of indirect materials used in production?Assume the following: Purchases of raw materials $ 38,000 Indirect materials used in production $ 6,000 Beginning raw materials inventory $ 10,000 Ending raw materials inventory $ 14,000 What is the direct materials used in production?The following information is available for ABC Company for the year ended December 31: Beginning raw materials inventory Raw materials purchases Ending raw materials inventory Direct labor expense What is the amount of direct materials used in production for the year? Multiple Choice $5,200. $7,500. $4,700. $8,900. $ 3,700 5,200 4,200 2,200
- If beginning and ending work in process inventories are $6,400 and $16,400, respectively, and cost of goods manufactured is $185,000, what is the total manufacturing cost for the period? ForWhat are the total costs to account for if a company’s beginning inventory had $231,432 in materials, $186,450 in conversion costs, and added direct material costs ($4,231,392), direct labor ($2,313,392), and manufacturing overhead ($1,156,696)?All applicable Cases are available with McGraw-Hill’s Connect™Accounting. Cost of goods manufactured, cost of goods sold, and income statement Determine each of the following missing amounts:Firm A Firm B Firm CBeginning raw materials inventory . . . . . . . . . . . . . . . . . $ 17,000 $ ? $ 42,000Purchases of raw materials during the year . . . . . . . . . . ? 96,000 226,000Raw materials available for use . . . . . . . . . . . . . . . . . . . ? 119,000 ?Ending raw materials inventory . . . . . . . . . . . . . . . . . . . 12,000 ? 51,000Cost of raw materials used . . . . . . . . . . . . . . . . . . . . . . 90,000 101,000 ?Direct labor costs incurred. . . . . . . . . . . . . . . . . . . . . . . 130,000 ? 318,000Variable manufacturing overhead applied. . . . . . . . . . . . ? 34,000 72,000Fixed manufacturing overhead applied. . . . . . . . . . . . . . 100,000 60,000 ?Total manufacturing costs incurred . . . . . . . . . . . . . . . . 370,000 ? ?Beginning work in process. . . . . . . . .…
- 8. complete the following table to determine what are the total costs to account for if a company’s beginning inventory had $231,432 in materials, $186,450 in conversion costs, and added direct material costs ($4,231,392), direct labor ($2,313,392), and manufacturing overhead ($1,156,696)? PLEASE NOTE: All dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345). If no dollar amount is needed for that space, please enter "$0" with no quotation marks. Material Costs Conversion Costs Total Costs Beginning work in process ? ? x Added: ? ? x Direct materials ? ? x Direct labor ? ? x Manufacturing overhead ? ? x Total Costs ? ? ?A company's Work in Process Inventory had a balance of $20,000 at the beginning of the year and $5,000 at the end of the year. During the year, it used $30,000 of direct materials, and it incurred direct labor and manufacturing overhead costs of $200,000 and $300,000, respectively. Based on this information, the company's cost of finished goods manufactured was?The related data of Mireia Company: Cost of goods sold P1,687,800 Estimated overhead cost 2,000,000 Estimated direct labor hours 100,000 Actual overhead cost 1,789,300 Actual direct labor hours 87,100 Factory overhead is based on direct labor hours. How much is the adjusted cost of goods sold?
- Compute the Cost of Goods Manufactured and Cost of Goods Sold for West Nautical Company for the most recent year using the amounts described in the picture. Assume that the Raw Materials Inventory contains only direct materials.If beginning raw materials inventory was $16,198; raw materials purchases were $37,965; raw materials used were $23,478; and factory labor was $46,706, what amount is in the ending raw materials inventory account?Selected T-accounts of Moore Company are given below for the just completed year Required: 1. What was the cost of raw materials used in production during the year? 2. How much of the materials in (1) above consisted of indirect materials? 3. How much of the factory labor cost for the year consisted of indirect labor? 4. What was the cost of goods manufactured for the year? 5. What was the unadjusted cost of goods sold for the year? Do not include any underapplied or overapplied overhead in your answer. 6. If overhead is applied to production on the basis of direct labor cost, what predetermined overhead rate was in effect during the year? 7. Was manufacturing overhead underapplied or overapplied? By how much? 8. Compute the ending balance in Work in Process. Assume that this balance consists entirely of goods started during the year. If $11,250 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost?