for each of the following independent for each of the following independent for
ID: 2610787 • Letter: F
Question
for each of the following independent for each of the following independent for each of the following independent For each of the following independent cases (1-4), compute the missing values. (Enter all am 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 Manufacturing overhead Total current manufacturing costs Beginning work in process Ending work in process Cost of goods manufactured Beginning finished goods Ending finished goods Cost of goods sold $ 5,800 46,000 900 1,000 $ 25,000S 93,000 48,640 1,300 12,050 2,800 3,050 13,800 2,400 94,800 32,920 36,000 4,000 121,650 541,730 38,850 76,600 34,600 30,280 94,000 45,000 100,920 129,000 75,000 79,000 42,350237,200 90,325 827,900 53,400 75,800 31,800 398,000 71,000 12,375847,400Explanation / Answer
Working note:
The following formulas have been used in calculating the above values
Direct materials used = beginning raw material + raw material purchased + indirect materials issued - closing raw material
Total current manufacturing costs = direct material used + direct labor cost+ manufacturing overhead
Cost of goods manufactured = opening WIP + current manufactuirng costs - closing WIP
Cost of goods sold = beginning finished goods + cost of goods manufactured - closing finished goods
Case 1 Case 2 Case 3 Case 4 Beginning raw material $5,800 $2,000 $25,000 $93,000 Raw material purchases $46,000 $12,050 $48,640 $3,00,200 Indirect materials issued $900 $2,800 $1,300 $2,400 Ending raw materials $1,000 $3,050 $42,020 $94,800 Direct materials used $51,700 $13,800 $32,920 $3,00,800 Direct labor $36,000 $23,950 $30,800 $1,21,650 Manufacturing overhead $54,000 $38,850 $30,280 $5,41,730 Total current manufacturing costs $1,41,700 $76,600 $94,000 $9,64,180 Beginning work In process $45,000 $34,600 $38,675 $1,00,920 Ending work in process $57,700 $35,400 $42,350 $2,37,200 Cost of goods manufactured $1,29,000 $75,800 $90,325 $8,27,900 Beginning finished goods $75,000 $27,000 $53,400 $4,17,500 Ending finished goods $79,000 $31,800 $31,350 $3,98,000 Cost of goods sold $1,25,000 $71,000 $1,12,375 $8,47,400Related Questions
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