Question
The balances in the perpetual inventory accounts of Anditon Manufacturing Corporation at the beginning and end of the current year are as follows. End of
The balances in the perpetual inventory accounts of Anditon Manufacturing Corporation at the beginning and end of the current year are as follows.
| End of Year | Beginning of Year | ||||||
Inventory accounts: |
|
|
|
|
|
|
|
|
Materials |
| $ | 126,000 |
|
| $ | 222,000 |
|
Work in Process |
|
| 109,000 |
|
|
| 75,000 |
|
Finished Goods Inventory |
|
| 325,000 |
|
|
| 238,000 |
|
The total dollar amounts debited and credited during the year to the accounts used in recording manufacturing activities are as follows.
| Debit Entries | Credit Entries | ||||||
Account: |
|
|
|
|
|
|
|
|
Materials Inventory |
| $ | 2,410,000 |
|
| $ | ? |
|
Direct Labor |
|
| 1,189,000 |
|
|
| 992,000 |
|
Manufacturing Overhead |
|
| 893,600 |
|
|
| 893,600 |
|
Work in Process Inventory |
|
| ? |
|
|
| ? |
|
Finished Goods Inventory |
|
| ? |
|
|
| ? |
|
Required:
a. Using these data, state or compute for the year the following amounts.
b. Prepare a schedule of the cost of finished goods manufactured.
for A
1. direct material purchased
2 Direct material used
3. Payments of direct labor payrolls
4 Direct labor costs assigned to production
5 total Manufacturing costs charged to the work in proccess inventory account during the year
6. The costs of finished goods manufactured
7 the costs of goods sold
8 the total amount to be classified as inventory in the year-end balance sheet
For B
fill in then _______________________________________________
Manufactoring costs assigned to production
fill in then _____________________________________
fill in __________________________________________
fill in _________________________________________________-
Fill in ___________________________________________
Total manufacturing costs
Costs of all goods in process during the year
Fill in ________________________________-
Costs of finished goods manufactured
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