Question
1.) ABC Company manufactures picture frames. During the year the company had the following costs: direct materials used $40,000, Direct labor $25,000, factory rent $12,000,
1.) ABC Company manufactures picture frames. During the year the company had the following costs: direct materials used $40,000, Direct labor $25,000, factory rent $12,000, factory utilities $3000, factory equipment depreciation $6,000, office equipment depreciation $4,000, selling expense $5,000, and administrative expenses $40,000. ABC Company had no beginning inventory balances and completed 45,000 frames. What is their cost for one frame?
A. | $1.77 |
B. | $1.91 |
C. | $3.00 |
D. | $2.00
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If direct materials used is $10,000, overhead applied is $21,000, beginning WIP is $5,000 and ending WIP is $3,000, direct labor is $7,000, beginning and ending FG inventory is $15,000 and $12,000 respectively, what is the cost of goods sold?
A. | $40,000 |
B. | none of these |
C. | $43,000 |
D. | $41,000 |
E. | $38,000
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If the direct materials used is $10,000, overhead applied is $21,000, beginning WIP is $5000 and ending WIP is $3,000, direct labor is $7,000, beginning and ending FG inventory is $15,000 and $12,000 respectively, what is the cost of goods manufactured?
A. | $38,000 |
B. | $43,000 |
C. | $41,000 |
D. | $40,000 |
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