Question
Comet Company accumulated the following account information for the year: Direct materials cost $ 5,500 Indirect materials cost 1,500 Indirect labor cost 4,500 Maintenance of
Comet Company accumulated the following account information for the year:
Direct materials cost | $ 5,500 |
---|---|
Indirect materials cost | 1,500 |
Indirect labor cost | 4,500 |
Maintenance of factory equipment | 2,300 |
Direct labor cost | 6,500 |
Using the above information, total factory overhead costs equal:
Multiple Choice
$14,800.
$6,800.
$11,500.
$8,300.
$14,300.
Using the information below, calculate cost of goods sold for the period:
Sales | $ 1,322,000 |
---|---|
Selling expenses | 257,000 |
Finished Goods Inventory, beginning | 54,000 |
Finished Goods Inventory, ending | 59,000 |
Cost of goods manufactured | 558,000 |
Multiple Choice
$810,000.
$805,000.
$512,000.
$553,000.
$394,000.
Craigmont Company's direct materials costs are $4,600,000, its direct labor costs total $8,440,000, and its factory overhead costs total $6,440,000. Its prime costs total:
Multiple Choice
$13,040,000.
$11,040,000.
$14,880,000.
$6,600,000.
$19,480,000.
Use the cost information below for Ruiz Incorporated to determine the total manufacturing costs incurred during the year:
Work in Process, beginning | $ 53,000 |
---|---|
Work in Process, ending | 38,500 |
Direct materials used | $ 14,000 |
Total factory overhead | 7,000 |
Direct labor used | 28,000 |
Multiple Choice
$14,500.
$63,500.
$102,000.
$49,000.
$95,000.
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