M WileyPLUS -> C D edugen.wileyplus.com/edugen/student/mainfr.un. Frank WileyPLU
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M WileyPLUS -> C D edugen.wileyplus.com/edugen/student/mainfr.un. Frank WileyPLUS aagerial Accounting, wileyptLUS Custom Course for St. Managerial Accounting, WileyPLUS Custom Course for St. John's University John's University MANAGERIAL ACCOUNTING (ACC 2339) MESSAGE MY INSTRUCTOR STANDARD VIEW PRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES Exercise 1-9 hapter Your answer is partially correct. Try again An incomplete cost of goods manufactured schedule is presented below Complete the cost of goods manufactured schedule for Molina Company Exercise 1-9 MOLINA COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2014 eview Scor Review Results Study Ob Work in process (1/1) Direct materials $212,870 Raw materials inventory (1/1) Add: Raw materials purchases Total raw materials available for use Less: Raw materials inventory (12/31) 166,900 29,700 Direct materials used Direct labor Manufacturing overhead $199,010 74,580 Indirect labor Factory depreciation Factory utilities Total overhead 21,970 40,570 77,930 140,470 Total manufacturing costs Total cost of work in process Less: Work in process (12/31) Cost of goods manufactured 414,060 626,930 90,490 $536,440 LINK TO TEXT VIDEO: SKILL-BUILDING Question Attempts: 2 of 5 used SAVE FOR LATER SUBMIT ANSWER Copyright © 2000-2016 by John Wiley & Sons, Inc. or related companies. All rights reservedExplanation / Answer
A)
Total raw material available for use - raw material inventory 12/31 = Direct materials used
Total raw material available for use - $29,700 = $199,010
Total raw material available for use= $199,010 + $29,700
Total raw material available for use= $228,710
B)
Raw material inventory 1/1 + Raw material purchases = Total raw material available for use
Raw material inventory 1/1 + $166,900 = $228,710
Raw material inventory 1/1 = $228,710 - $166,900
Raw material inventory 1/1= $61,810
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