Tag: accounting

“Suppose a bakery reports this​ information: Beginning Raw Materials Inventory: $8,000Ending Raw Materials Inventory: $7,000Beginning Work-in-Process Inventory: $2,000Ending Work-in-Process Inventory: $1,000Beginning Finished Goods Inventory: $5,000Ending Finished Goods Inventory: $7,000Direct Labor: $30,000Purchases of Raw Materials: $96,000Manufacturing Overhead: $18,000What is the cost of goods​ manufactured?”,”(96,000+30,000+18,000) + 2,000 – 1,000=$146

Managerial Accounting

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“Umbria​ Inc. has compiled the following​ data:Purchases of Raw Materials: $6,400Freight In: 300Property Taxes: $1,200Ending Inventory of Raw Materials: $1,700Beginning Inventory of Raw Materials: $4,200Assume all materials used are direct materials​ (none are​ indirect). Compute the amount of direct materials used.”,”Umbria, Inc.Computation of Direct Materials Used:Beginning Inventory of Raw Materials: $4,200+Purchases of Raw Materials: $6,400+Freight In: $300=Direct Materials Available for Use: $10,900-Ending Inventory of Raw Materials: $(1,700)=Direct Materials Used: $9

Managerial Accounting

Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.“Umbria​ Inc. has compiled the[…]

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“Assume the following for Smart Touch Learning for the year ended December​ 31, 2018​: Ending Finished Goods Inventory​ = $ 345,000;Sales Revenue​ = $ 575,000; Cost of Goods Manufactured​ = $ 300,000​; Beginning Finished Goods Inventory​ = $ 375,000. Calculate Cost of Goods Sold for the period.A. $ 330,000B. $ 605,000C. $ 245,000D. None of the above”,”A. $ 330

Managerial Accounting

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“Use the following inventory data for Caddy Golf Company to compute the cost of goods manufactured for the​ year:Direct Materials Used: $10,000Manufacturing Overhead: $20,000Work-in-Process Inventory:Beginning: 2,000Ending: 3,000Direct Labor: 13,000Finished Goods Inventory:Beginning: 16,000Ending: 7,000”,”Caddy Golf CompanySchedule of Cost of Goods ManufacturedBeginning Work-in-Process Inventory: $2,000Direct Materials Used: $10,000Direct Labor: 13,000Manufacturing Overhead: 20,000Total Manufacturing Costs Incurred during the Year: 43,000Total Manufacturing Costs to Account For: 45,000Ending Work-in-Process Inventory : (3,000)Cost of Goods Manufactured: $42

Managerial Accounting

Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.“Use the following inventory data[…]

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“Use the following information to calculate the cost of goods sold for The Etmon Company for the month of June:Finished Goods Inventory:Beginning Balance: $28,000Ending Balance: $13,000Cost of Goods Manufactured: $173,000”,”Beginning Finished Goods Inventory: $28,000+Cost of Goods Manufactured: $173,000=Cost of Goods Available for Sale: $201,000-Ending Finished Goods Inventory: $(13,000)=Cost of Goods Sold: $188

Managerial Accounting

Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.“Use the following information to[…]

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