Question
An analysis of the accounts of Crane Company reveals the following manufacturing cost data for the month ended September 30, 2020. Inventories Beginning Ending Raw
An analysis of the accounts of Crane Company reveals the following manufacturing cost data for the month ended September 30, 2020.
Inventories | Beginning | Ending | ||
---|---|---|---|---|
Raw materials | $ 12,100 | $ 11,400 | ||
Work in process | 7,600 | 5,100 | ||
Finished goods | 10,100 | 12,100 |
Costs incurred: raw materials purchases $ 62,600, direct labor $ 51,100, manufacturing overhead $ 26,250. The specific overhead costs were: indirect labor $ 6,600, factory insurance $ 5,100, machinery depreciation $ 6,100, machinery repairs $ 2,900, factory utilities $ 3,700, miscellaneous factory costs $ 1,850. Assume that all raw materials used were direct materials.
Crane Company is considering the purchase of a new automated assembly line for its factory. The purchase would result in several changes in Crane cost structure. Both direct labor and indirect labor would decrease by 40%. Factory insurance would increase to $ 8,100, machinery depreciation would double, machinery repairs would decrease to $ 510, utilities would decrease to $ 2,600 and miscellaneous factory costs would increase to $ 1,950. Materials usage would remain at current levels. Analyze the new purchase by preparing a cost of goods manufactured schedule for September 30, 2020 using the new data.
Crane Co. Cost of Goods Manufacturing Schedule choose the accounting period For the Month Ended September 30, 2020For the Year Ended September 30, 2020September 30, 2020 | ||||||
---|---|---|---|---|---|---|
select | $ enter a dollar amount | |||||
select | ||||||
select | $ enter a dollar amount | |||||
select | enter a dollar amount | |||||
select | enter a total of the two previous amounts | |||||
select | enter a dollar amount | |||||
select | $ enter a total amount for section one | |||||
select | enter a dollar amount | |||||
select | ||||||
select | enter a dollar amount | |||||
select | enter a dollar amount | |||||
select | enter a dollar amount | |||||
select | enter a dollar amount | |||||
select | enter a dollar amount | |||||
select | enter a dollar amount | |||||
select | enter a total amount for section two | |||||
select | enter a total amount for the first part | |||||
select | enter a total amount for all two parts | |||||
select | enter a dollar amount | |||||
select | $ enter a total amount for this schedule |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started