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Need computation thanks 0 Last night, the sprinkler system at Plant A was accidentally set off. The ensuing deluge destroyed most of the cost records
Need computation thanks
0 Last night, the sprinkler system at Plant A was accidentally set off. The ensuing deluge destroyed most of the cost records in Plant A for the month just completed (May). The plant manager has come to you in a panic-he has to complete his report for head office by the end of today. He wants you to give him the numbers he needs for his report. He can provide you with some fragments of information he has been able to salvage: Raw materials: Beginning $24,200 Ending 56,200 Work in process: Beginning 15,700 Finished goods: Sold in May 402,200 Ending 50,000 Manufacturing overhead: Beginning Accrued wages payable: Beginning 10,700 Ending 18,400 Other information: 1. Total direct materials requisitions for the month were $181,000. 2. A total of 9,700 direct labour hours were worked during the month at an average wage of $15/hour. 3. Manufacturing overhead of $102,400 was incurred during the period. 4. On May 31, the ending inventory of work in process is $5,000. Calculate the following: The material purchased during May. ws Material purchased The amount paid to the labour force in May. Amount paid to the labour force The cost of goods transferred from work in process inventory to finished goods inventory in May. Cost of goods transferred from work in process inventory to finished goods inventory The cost of finished goods inventory at the beginning of May. Cost of finished goods inventory Step by Step Solution
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