Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The closing balance of the Raw Materials inventory account for May was $27,500. The opening balance for May was $28,750 and $128,900 of raw materials

image text in transcribedimage text in transcribedimage text in transcribed
image text in transcribedimage text in transcribedimage text in transcribed
The closing balance of the Raw Materials inventory account for May was $27,500. The opening balance for May was $28,750 and $128,900 of raw materials were used during the month. The cost of raw materials purchased during the month was: Select one: $127,650 $131,300 $130,150 $157,650 Question 13 Not yet answered Marked out of 3.00 V Flag question Given the following costs: 0 direct materials, $30,000 0 direct labour, $34,000; 0 sales salaries, $14,000 - indirect manufacturing labour, $10,000 a factory rent, $20,000 - indirect manufacturing materials, $15,000; a general corporate administrative cost $12,000; - taxes on manufacturing facility, $2,000 a beginning work in process inventory was $16,000 - ending work in process inventory was $9,000. What is the cost of goods manufactured for the month? Select one: $144,000 $64,000 $118,000 $104,000 Question 19 Given: Not yet answered Direct materials used 18,000 Marked out of Direct labour 50,000 3.00 Indirect factory labour 5,000 Flag Factory rent 32,000 question Utilities ( 80% factory related) 20,000 Depreciation ( 85% factory related) 52,000 Management salaries ( 30% factory 150,000 related) Selling and administrative 80,000 What is the manufacturing overhead? Select one: $259,000 O $222,200 O $137,200 O $142,200

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

Advanced Accounting

Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik

14th Edition

1260247821, 978-1260247824

More Books

Students also viewed these Accounting questions

Question

Were multiple treatments used? Did they interfere with each other?

Answered: 1 week ago

Question

Do not go, wait until I come

Answered: 1 week ago

Question

Pay him, do not wait until I sign

Answered: 1 week ago