This topic is about Cost Accounting. Please check the picture for the problem.Requirement: Determine the followingTotal Raw Materials usedTotal Manufacturing Cost Total Cost of Goods ManufacturedThank you! You are given the following information from Alexandria Mfg Company as of December 31,202A;Sales, P205,000; selling and administrative expenses, P83,000; purchases of rawmaterials, P20,0003; direct labor, P15,000; factory overhead, P32,000.The inventories are:1. Raw materials, beg., P7,000; end, P5,0002. Work in process, beg., P14,000; end, P11,0003. Finished goods, beg., P15,000; end, P19,000

Answered: Image /qna-images/answer/21ef56ee-2af5-4077-83a2-8e3125da7336.jpg

Answered: This topic is about Cost Accounting.…

This topic is about Cost Accounting. Please check the picture for the problem. Requirement: Determine the following Total Raw Materials used Total Manufacturing Cost Total Cost of Goods Manufactured

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 13E: Wyandotte Company provided the following information for the last calendar year: During the year,...

See similar textbooks

Similar questions

Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Required: 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. Calculate the unit manufacturing cost. 3. Of the unit manufacturing cost calculated in Requirement 2, 2.70 is direct materials and 5.30 is overhead. What is the prime cost per unit? Conversion cost per unit?
During the year, a company purchased raw materials of $77,321, and incurred direct labor costs of $125,900. Overhead is applied at the rate of 75% of the direct labor cost. These are the inventory balances: Compute the cost of materials used in production, the cost of goods manufactured, and the cost of goods sold.
Wyandotte Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 256,900, direct labor cost was 176,000, and overhead cost was 308,400. There were 40,000 units produced. Required: 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. Calculate the unit manufacturing cost. 3. Of the unit manufacturing cost calculated in Requirement 2, 6.62 is direct materials and 7.71 is overhead. What is the prime cost per unit? Conversion cost per unit?
What are the total costs to account for if a companys beginning inventory had $231,432 in materials, $186,450 in conversion costs, and added direct material costs ($4,231,392), direct labor ($2,313,392), and manufacturing overhead ($1,156,696)?
The cost accountant for River Rock Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning February 1 would be 3,150,000, and total direct labor costs would be 1,800,000. During February, the actual direct labor cost totalled 160,000, and factory overhead cost incurred totaled 283,900. a. What is the predetermined factory overhead rate based on direct labor cost? b. Journalize the entry to apply factory overhead to production for February. c. What is the February 28 balance of the account Factory OverheadBlending Department? d. Does the balance in part (c) represent over- or underapplied factory overhead?
At May 31, 2022, the accounts of Sandhill Company show the following. 1. May 1 inventories-finished goods $15,080, work in process $17,560, and raw materials $9,760. May 31 inventories-finished goods $11,400, work in process $19,120, and raw materials $8,480. Debit postings to work in process were direct materials $74,920, direct labor $60,000, and manufacturing overhead applied $48,000. (Assume that overhead applied was equal to overhead incurred.) Sales revenue totaled $258,000. 2. 3. 4.
At May 31, 2022, the accounts of Cullumber Company show the following May 1 inventories-finished goods $16,080, work in process $18,720, and raw materials $10,400 May 31 inventories-finished goods $12.160, work in process $20,400, and raw materials $9,040 1 2 3. 4 Debit postings to work in process were direct materials $79,920, direct labor $64,000, and manufacturing overhead applied $51,200. (Assume that overhead applied was equal to overhead incurred) Sales revenue totaled $275,200. Prepare a condensed cost of goods manufactured schedule for May 2022 CULLUMBER COMPANY Cost of Goods Manufactured Schedule For the Month Ended May 31, 2022 4 Sales Reverse eTextbook and Media $ 0 • -13 1
At May 31, 2020, the account of Vaugh Company show the following. 1. May 1 Inventories-finished goods $14,300, work in process $15,100 and raw materials $8,900. 2. May 31 inventories-finished goods $9,600, work in process $16,100, and raw materials $7,600. 3. Debit posting to work in process were direct materials $62,800, direct labor $53,100, and manufacturing overhead applied $42,300. (Assume that overhead applied was equal to overhead incurred) 4. Sales revenue totaled $216,200 Prepare a condensed cost of goods manufactured schedule.
An analysis of the accounts of Marin Company reveals the following manufacturing cost data for the month ended June 30, 2022. Inventory Raw materials Work in process Finished goods Beginning Ending $9,800 $14,380 7,550 9.000 (a) 5,300 9,800 Costs incurred: raw materials purchases $57,500, direct labor $49,300, manufacturing overhead $22,160. The specific overhead costs were: indirect labor $5,700, factory insurance $4,500, machinery depreciation $4,500, machinery repairs $2,090, factory utilities $3,780, and miscellaneous factory costs $1,590. (Assume that all raw materials used were direct materials.) Prepare the cost of goods manufactured schedule for the month ended June 30, 2022. MARIN COMPANY Cost of Goods Manufactured Schedule UIL JUI
A company had beginning inventories as follows: Direct Materials, $650; Work-in-Process, $850; Finished Goods, $1,050. It had ending inventories as follows: Direct Materials, $750; Work-in-Process, $950; Finished Goods, $1,150. Material Purchases, net were $1,900, Direct Labor $2,000, and Manufacturing Overhead $2,100. What is the Cost of Goods Sold for the period? Multipie Cholce $5,700. $5,600. $5,900. $5,800.
The following figures have been extracted from the records of Necon manufacturing companyfor the year ending 31st December, 2019. You are required to prepare a statement of costshowing : (a) Cost of raw materials consumed(b) Prime Cost (c) Factory Cost(d) Cost of production(e) Cost of goods sold (f)Total cost of goods sold and profit on sales. $Stock of Raw Materials (1-1-19) 3,000Stock of Raw Materials (31-12-19) 2,400Purchases of Raw materials 14,000Stock of work-in-progress (1-1-19) 1,000Stock of work-in-progress (31-12-19) 800Carriage inward 500Manufacturing wages 4,000Other direct expenses 200Indirect wages 1,000Experiment expenses 400Wastage of materials…
The given miscellaneous data has been collected for a manufacturing company for the year ended 12/31/2020. Inventories: • Beginning - raw material_P50,000 - work in process_P40,000 - finished goods_P60,000 • Ending -raw material_P55,000 - work in process_P45,000 - finished goods_P50,000 costs recorded during the year: - purchases of raw material_P195,000 - direct labor_P150,000 - COGS_P595,000 - freight out_P25,000 - purchase discount_P32,000 - purchase return and allowances_P23,000 Required: Prepare a statement of cost of goods manufactured.