Exam 2, Ch 14, 15&16 Current information for the Healey Company follows 6 Beginn

Question

Exam 2, Ch 14, 15&16 Current information for the Healey Company follows 6 Beginning raw materials nventory Raw material purchases $16,500 61,300 17,900 Ending raw materials inventory 7o0 012923 Beginning work in process nventory Ending work in process inventory 29,300 Direct labor Total factory overhead 23,700 44100 31.300 All raw materials used were traceable to specific units of product. Healey Company's direct materials used for the year is Multiple Choice $59.900 $62,700 $77800 $79,200 $61,300 Prev

Explanation / Answer

Q6. Answer is $ 59900 Explanation: Beginning Inventory of material 16500 Add: Purchase 61300 Less: ending inventory of material 17900 Direct material used 59900 Q7. Answer is $ 45100 Explanation: Direct material used 12700 Direct labour 26700 Mannufacturing OH 5700 Total manufacturing cost 45100 Q8. Answer is $ 105600 Explanation: Direct material used 42300 Direct labour 32400 Manufacturing OH Indirect labour 8100 Indirect material 15300 Depreciation 9300 32700 Total Mmanufacturing cost 107400 Aadd: Beginning WIP 9000 Less: Ending WIP 10800 Cost of Goods manufactured 105600 Q9. Answer is $ 130000 Explanation: Raw material used 127000 Add: ending inventory 69000 Less: beginning Inventory 66000 Raw material purchased 130000 Q10. Answer is $ 729000 Explanation: Sales revenue 1284000 Lless: Cost of Goods sold 555000 Gross profit 729000

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