Question
The following T-accounts record the operations of Crane Co.: Assume all raw materials are direct materials. Raw Materials Beginning Balance 25,000 230,000 ? Ending Balance
The following T-accounts record the operations of Crane Co.: Assume all raw materials are direct materials.
| Raw Materials | ||||||
|---|---|---|---|---|---|---|
| Beginning Balance | 25,000 | |||||
| 230,000 | ||||||
| ? | ||||||
| Ending Balance | 15,000 | |||||
| Work in Process | ||||||
|---|---|---|---|---|---|---|
| Beginning Balance | 35,000 | |||||
| Direct Material | ? | |||||
| Direct Labor | 165,000 | |||||
| Overhead | ? | |||||
| ? | ||||||
| Ending Balance | 25,000 | |||||
| Finished Goods | ||||||
|---|---|---|---|---|---|---|
| Beginning Balance | 40,000 | |||||
| COGM | ? | |||||
| 640,000 | ||||||
| Ending Balance | 15,000 | |||||
(a) Calculate the amount of direct materials purchased during the period.
| Raw materials purchased | $enter the raw materials purchased in dollars |
(b) Calculate the cost of goods manufactured during the period.
| Costs of goods manufactured | $enter the costs of goods manufactured in dollars |
(c) Calculate the total manufacturing overhead cost for the period.
| Total manufacturing overhead cost | $enter the total manufacturing overhead cost in dollars |
(d) Calculate the total manufacturing cost for the period.
| Total manufacturing cost | $enter the total manufacturing cost in dollars |
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Auditing Excellence Principles And Practices In Accounting Ensuring Accuracy Transparency And Compliance In Financial Reporting
Authors: Ryan Flores
1st Edition
B0C6448LC8, 979-8395841360
