Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Exercise 1-11 Incomplete manufacturing cost data for Horizon Company for 2020 are presented as follows for four different situations. X Your answer is incorrect. Try
Exercise 1-11 Incomplete manufacturing cost data for Horizon Company for 2020 are presented as follows for four different situations. X Your answer is incorrect. Try again. Indicate the missing amount for each letter. Direct Materials Used Direct Labor Used Manufacturing Overhead Total Manufacturing Work in Process 1/1 Work in Process 12/31 Costs Cost of Goods Manufactured (1) $121,900 $143,100 $90,200 356200 ||a) $35,900 29200 ||(b) $365,900 (2) 113900 ) 205,000 134,300 454,200 59900 (d) 41,600 474,200 X (3) 85,300 105,400 85300 le 269,900 61,200 81,100 253600 ) (4) 72,500 138400 (9) 76,000 289,000 49,200 66400 ||(h) 275,600 HORIZON COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2020 Work in Process Inventory, January 1 35900 $ Direct Materials 121500 Direct Labor 143700 X Manufacturing Overhead 91000 X Total Manufacturing Costs 356200 Total Cost of Work in Process 392100 X Less Work in Process Inventory, December 31 V 29200 Cost of Goods Manufactured 362900
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started