iPad 6:32 PM value 7.00 points E2-19 Calculating Missing Amounts and Cost of Goo
ID: 2334185 • Letter: I
Question
iPad 6:32 PM value 7.00 points E2-19 Calculating Missing Amounts and Cost of Goods Manufactured and Sold [LO 2-3, 2-4, 2-5, 2 6) For each of the following independent cases (1-4), compute the missing values. (Enter all amounts as positive values.) Case 1 Case 2 Case 3 Case 4 Beginning raw materials Raw material purchases Indirect materials issued Ending raw materials Direct materials used Direct labor S 6,400 47,000 700 1,600 s 26,000 100,000 10,950 2,100 3,350 14,900 48,640 1,500 3,800 94,400 32,720 30,000 21.750 30,980 540,830 94,600 58,000 38,850 76,600 42,600 Total current manufacturing costs Beginning work in process Ending work in proces Cost of goods manufactured Beginning finished goods Ending finished goods Cost of goods sold 51,000 101,420 136,000 77,000 7,000 42,850 236,300 1,025 826,900 52,000 72,800 31,300 397,300 73,000 112,875 844,400Explanation / Answer
Answer
Working
Case 1
Case 2
Case 3
Case 4
A
Beginning Raw materials
$ 6,400.00
$ 7,300.00
$ 26,000.00
$ 100,000.00
B
Raw Material purchased
$ 47,000.00
$ 10,950.00
$ 48,640.00
$ 289,800.00
C
Indirect Material issued
$ 700.00
$ 2,100.00
$ 1,500.00
$ 3,800.00
D
Ending raw materials
$ 1,600.00
$ 3,350.00
$ 41,920.00
$ 94,400.00
E = A+B-D
Direct material Used
$ 51,800.00
$ 14,900.00
$ 32,720.00
$ 295,400.00
F
Direct Labor
$ 30,000.00
$ 20,750.00
$ 29,400.00
$ 121,750.00
G
Manufacturing Overhead
$ 58,000.00
$ 38,850.00
$ 30,980.00
$ 540,830.00
H = E+F+G+C
Total manufacturing cost
$ 140,500.00
$ 76,600.00
$ 94,600.00
$ 961,780.00
I
Beginning WIP
$ 51,000.00
$ 42,600.00
$ 39,275.00
$ 101,420.00
J
Ending WIP
$ 55,500.00
$ 46,400.00
$ 42,850.00
$ 236,300.00
K = H+I-J
Cost of Goods manufactured
$ 136,000.00
$ 72,800.00
$ 91,025.00
$ 826,900.00
L
Beginning finished goods
$ 77,000.00
$ 31,500.00
$ 52,000.00
$ 414,800.00
M
Ending Finished Goods
$ 77,000.00
$ 31,300.00
$ 30,150.00
$ 397,300.00
N = K+L-M
Cost of Goods Sold
$ 136,000.00
$ 73,000.00
$ 112,875.00
$ 844,400.00
--Working for above
Working
Case 1
Case 2
Case 3
Case 4
A
Beginning Raw materials
6400
=14900+3350-10950
26000
100000
B
Raw Material purchased
47000
10950
48640
=295400+94400-100000
C
Indirect Material issued
700
2100
1500
3800
D
Ending raw materials
1600
3350
=26000+48640-32720
94400
E = A+B-D
Direct material Used
=6400+47000-1600
14900
32720
=961780-540830-121750-3800
F
Direct Labor
30000
=76600-38850-14900-2100
=94600-30980-32720-1500
121750
G
Manufacturing Overhead
58000
38850
30980
540830
H = E+F+G+C
Total manufacturing cost
=51800+30000+58000+700
76600
94600
=236300+826900-101420
I
Beginning WIP
51000
42600
=42850+91025-94600
101420
J
Ending WIP
=140500+51000-136000
=76600+42600-72800
42850
236300
K = H+I-J
Cost of Goods manufactured
136000
72800
91025
826900
L
Beginning finished goods
77000
=31300+73000-72800
52000
=844400+397300-826900
M
Ending Finished Goods
77000
31300
=91025+52000-112875
397300
N = K+L-M
Cost of Goods Sold
=136000+77000-77000
73000
112875
844400
Working
Case 1
Case 2
Case 3
Case 4
A
Beginning Raw materials
$ 6,400.00
$ 7,300.00
$ 26,000.00
$ 100,000.00
B
Raw Material purchased
$ 47,000.00
$ 10,950.00
$ 48,640.00
$ 289,800.00
C
Indirect Material issued
$ 700.00
$ 2,100.00
$ 1,500.00
$ 3,800.00
D
Ending raw materials
$ 1,600.00
$ 3,350.00
$ 41,920.00
$ 94,400.00
E = A+B-D
Direct material Used
$ 51,800.00
$ 14,900.00
$ 32,720.00
$ 295,400.00
F
Direct Labor
$ 30,000.00
$ 20,750.00
$ 29,400.00
$ 121,750.00
G
Manufacturing Overhead
$ 58,000.00
$ 38,850.00
$ 30,980.00
$ 540,830.00
H = E+F+G+C
Total manufacturing cost
$ 140,500.00
$ 76,600.00
$ 94,600.00
$ 961,780.00
I
Beginning WIP
$ 51,000.00
$ 42,600.00
$ 39,275.00
$ 101,420.00
J
Ending WIP
$ 55,500.00
$ 46,400.00
$ 42,850.00
$ 236,300.00
K = H+I-J
Cost of Goods manufactured
$ 136,000.00
$ 72,800.00
$ 91,025.00
$ 826,900.00
L
Beginning finished goods
$ 77,000.00
$ 31,500.00
$ 52,000.00
$ 414,800.00
M
Ending Finished Goods
$ 77,000.00
$ 31,300.00
$ 30,150.00
$ 397,300.00
N = K+L-M
Cost of Goods Sold
$ 136,000.00
$ 73,000.00
$ 112,875.00
$ 844,400.00
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