Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Cost of Goods manufactured and sold Thanks for your help My Subscriptions / Courses ACc206:12-Week Master-Managerial Accounting /Ch 2: Managerial Accoun CLICK HERE TO REVIEW

Cost of Goods manufactured and sold
Thanks for your help
image text in transcribed
image text in transcribed
My Subscriptions / Courses ACc206:12-Week Master-Managerial Accounting /Ch 2: Managerial Accoun CLICK HERE TO REVIEW LEARNING OBJECTIVES QUESTION 3 No complete Maried out of 57.00a que Cost of Goods Manufactured and Sold The following data relate to three independent production periods of Riverside Manufacturing Company P Flag question Materials: Beginning inventory Purchases Ending inventory Total material used s104 s 328 $ 220 ? 1,400 1,000 148 200? 660? 880 1,160 1,920 1,600 Direct labor Manufacturing overhead: Indirect material Indirect labor Other Total manufacturing overhead 192 240 320 300 700 ? 400 680 1,040 960 Work in process inventories Beginning ? 180 520 Ending 407 200 Finished goods inventories: Beginning Ending 7 800 160 Cost of goods manufactured Cost of goods sold 670 240 660 2,768 2,678 4,648 Using the above data, determine the missing amoun (You should set up a schedule of cost of goods ma Do.not use negative signs with any of your answers Schedule of Cost of Goods Manufactured and Sold Schedule of Cost of Goods Manufactured and Sold Direct Material: Beginning materials inventory s 104 s 328 s 220 704 1,400 Cost of materials purchased Cost of material available 148 200 Less: Ending materials inventory 148 200 Total material used 660 1528 Less: Indirect material used Direct material used Direct labor Manufacturing overhead: 1,160 1,920 1,600 Indirect material Indirect labor Other manufacturing overhead Total manufacturing overhead Total manufacturing costs Add: Beginning work in process inventory Total cost of work in process Less: Ending work in process inventory Cost of goods manufactured Add Beginning finished goods inventory Cost of goods available Less: Ending finished goods Inventory Cost of goods soid

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing a risk based approach to conducting a quality audit

Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg

9th edition

9781133939160, 1133939155, 1133939163, 978-1133939153

More Books

Students also viewed these Accounting questions

Question

Compare wages in Romania to wages in your home country.

Answered: 1 week ago

Question

Which were the causes of high employee turnover at Fomco Group?

Answered: 1 week ago