Question
Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Note: Assume all raw
Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Note: Assume all raw materials were used as direct materials. Inventories Raw materials inventory Work in process inventory Finished goods inventory Activity during current year Raw materials purchased Direct labor Factory overhead Beginning of Year End of Year $ 6,400 12,800 9,300 $ 124,300 94,400 40,200 $ 8,300 9,400 5,900 QS 14-17 (Algo) Schedule of cost of goods manufactured LO P2 Factory overhead of $40,200 consists of Indirect labor of $20,400, Depreciation expense-Factory of $15,400, and Factory utilities of $4,400. a. Compute total manufacturing costs. b. Prepare a schedule of cost of goods manufactured. Required A Required B Compute total manufacturing costs. Total manufacturing costs Required A Required B Prepare a schedule of cost of goods manufactured. Direct materials Schedule of Cost of Goods Manufactured Raw materials available for use + Factory overhead Total factory overhead Cost of goods manufactured < Required A Required B > QS 14-18 (Algo) Determining components of cost of goods manufactured LO P2 Determine the missing amount for each separate situation involving work in process cost flows. Total manufacturing costs (1) (3) $ 151,600 $ 218,600 106,600 33,600 Work in process inventory, beginning Work in process inventory, ending 85,600 23,600 Cost of goods manufactured $ 201,600 $ 139,600 $ 238,600
Step by Step Solution
There are 3 Steps involved in it
Step: 1
A Compute Total Manufacturing Costs Direct Materials Used Rawmaterialspurchased Rawmaterialsbeginnin...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