Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Raw Materials inventory 1- Determine the amount of Indirect Materials that were used during 2022: The Beginning balance in Raw Materials was 220 . The.

image text in transcribed
image text in transcribed
Raw Materials inventory 1- Determine the amount of Indirect Materials that were used during 2022: The Beginning balance in Raw Materials was 220 . The. Ending balance was 180. 1,000 of Raw Materials were purchased during 2022. WIP indicated that 900 of Direct Materials were used during 2022. 2. Determine the amount of Raw Materials Purchased in 2022: 2022 ended with 230 in Raw Materials and began with 300 of Raw Materials. 500 of Direct Materials and 200 of Indirect Materiais were used during the year. 3- Determine the Ending balance in Raw Materials for the first quarter of 2023 : The beginning balance was 150.400 of Direct Materials were used in production. Indirect Materials of 100 were also used during the quarter. During the quarter, 650 of materials were purchased. 4- Determine the Beginning balance for 2017 of Raw Materials Inventory: The Ending balance was 300. 700 was Purchased. 700 of Direct Materials and 200 of Indirect Materials were used during the year. WIP Inventory 5-Direct Raw Materials Used =60 Direct Labor =75 Applied Manufacturing Overhead =150 Beginning Balance =25 \& Ending Balance =45 What amount was Cost of Goods Manufactured? 6. Direct Labor =40 Applied Manufacturing Overhead =150 Beginning Balance =45 \& Ending Balance =25 Cost of goods Manufactured =380 What amount was Direct Materials? RM \& WIP What was tl. 8- Detemmine Appled Manufacturine Ovritiead: 6egining flaw Materiah a 400 Ending Raw Materigh 200 Degianing Wif balace =400 Ending WIP stalarce x300 The areount of thaw Motetials Purchaved =290 indirect Materiali Used in prodoction =10 Direct fan Materialt Used = ? prect labor =100. Cost of Goods Manutacturedi: 1,690 Finashed coods inventory 9. Determine the amount of Cost of Goods Manufactured for Quarter 1 of 2023 : The Aeginning balance in Finished Goods was 250. The Ending balance in Finished Goods was 220, Cost. of Goods sold was 1,000. 10- Detetmine the amount of Cost of Goods sols for Quarter 4 of 2022 : The Beginning balance in Finlshed Goods was 320. The Ending balance in Finished Goods was 350. Cost af Goods Manalactured was 900 . AM, WIP 8 FG 12- Determine Cost of Goods Sold: Beginning Raw Materials =150 Ending Raw Materials =250 Geginning WIP Balance =250 Ending WiP Balance =400 The amount of Raw Materials Purchased =300 Indirect Materiais Used in production =50 Direct Raw Materials Used a ? Drect Labor =200 Cost of Goods Manufactured = ? Applied Manufacturing Overhead =600 Beginning Finished Goods =350 Ending Finished Goods = 400

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

Step: 3

blur-text-image

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

Debunked An Auditor Reviews The 2020 Election And The Lessons Learned

Authors: Joseph Fried

1st Edition

1645720756, 978-1645720751

More Books

Students also viewed these Accounting questions

Question

define what is meant by the term human resource management

Answered: 1 week ago