Hofstra Plastics lnc.'s selected data for the month of August 2019 are presented below (in millions): Work-in-process
Question:
Hofstra Plastics lnc.'s selected data for the month of August 2019 are presented below (in millions):
Work-in-process inventory, August 1, 2019 | S 200 |
Direct materials inventory, August 1, 2019 | 90 |
Direct materials purchased | 360 |
Direct materials used | 375 |
Variable manufacturing overhead | 250 |
Total manufacturing overhead | 480 |
Total manufacturing costs incurred during August 2019 | 1,600 |
Cost of goods manufactured | 1,650 |
Cost of goods sold | 1.700 |
Finished goods inventory, August 1, 2019 | 200 |
Required
Calculate the following costs:
1. Direct materials inventory on August 31, 2019.
2. Fixed manufacturing overhead costs for August.
3. Direct manufacturing labour costs for August.
4. Work-in-process inventory on August 31, 2019.
5. Cost of goods available for sale in August.
6. Finished goods inventory on August 31, 2019.
Step by Step Answer:
Horngrens Cost Accounting A Managerial Emphasis
ISBN: 978-0134453736
8th Canadian Edition
Authors: Srikant M. Datar, Madhav V. Rajan, Louis Beaubien