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题目
题目
数值题

SparkCrafters is a custom jeweller that uses job costing to track production costs. At the beginning of March, the following jobs were in progress: Order 301 was 100% complete, in Finished Goods Inventory. Order 302 was 50% complete, in Work in Process Inventory. Production activity during March: Orders 301 and 302 were completed and sold by the end of March, for a combined sales revenue of $75,000. The company started and completed Order 303, but it was not sold by the end of March. Inventory Balances: Inventory Type Opening Balance Closing Balance Work in Process $15,000 (Order 302) $0 Finished Goods $28,000 (Order 301) $19,000 (Order 303) March costs: Direct labour: $8,250 (170 hours at $55/hour) Direct materials: $9,400 Manufacturing overhead is applied at 150% of direct labour cost. Actual overhead incurred: Indirect labour: $2,900 Indirect materials: $3,600 Other overhead: $3,150 Selling and administrative expenses: $4,500 Required: Calculate the Cost of Goods Manufactured for March. Show your final answer to the nearest dollar.

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思路分析
The task is to compute the Cost of Goods Manufactured (COGM) for March. First, restate the scenario in brief to anchor the calculation: Beginning work in process (WIP) = $15,000 (Order 302). Beginning finished goods (FG) = $28,000 (Order 301). During March, DL = $8,250 (170 hours at $55), DM = $9,400, and overhead is applied at 150% of direct labour. Ending WIP = $0. Order 301 and 302 are completed and sold by end of March; Order 303 is started ......Login to view full explanation

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类似问题

Below is information from Chameleon, Ltd. for the current period: Direct materials used $209,400 Direct labor used $121,900 Factory overhead costs $150,600 Administrative costs $77,200 Selling costs $56,000 Work in process inventory, beginning balance $63,200 Work in process inventory, ending balance $59,900 Finished goods inventory, beginning balance $47,800 Finished goods inventory, ending balance $52,300 The cost of goods manufactured for the firm is:

Question at position 17 What is the cost of goods manufactured for 2020? $369,000$248,000$259,000$270,000题目解析

Question at position 17 What is the cost of goods manufactured for 2020? $369,000$248,000$259,000$270,000题目解析

The following Balance Sheet was taken from the records of Fairport Manufacturing Company at the beginning of Year 3. Balance Sheet as of January 1, Year 2 Assets Cash $ 20,000 Raw materials inventory 1,800 Work in process inventory 2,400 Finished goods inventory 4,200 Property, plant, and equipment 15,000 Accumulated depreciation 6,000 Total Assets $ 37,400 Stockholders' Equity Common stock 16,800 Retained earnings 20,600 Total Stockholders' Equity $ 37,400 Transactions for the Accounting Period Fairport purchased $11,400 of direct raw materials and $600 of indirect raw materials on account. The indirect materials are capitalized in the Production Supplies account. Materials requisitions showed that $10,800 of direct raw materials had been used for production during the period. The use of indirect materials is determined at the end of the year by physically counting the supplies on hand. By the end of the year, $10,500 of the accounts payable had been paid in cash. During the year, direct labor amounted to 950 hours recorded in the Wages Payable account at $21 per hour. By the end of the year, $18,000 of wages payable had been paid in cash. At the beginning of the year, the company expected overhead cost for the period to be $12,600 and 1,000 direct labor hours to be worked. Overhead is allocated based on direct labor hours, which, as indicated in Event 3, amounted to 950 for the year. Selling and administrative expenses for the year amounted to $1,800 paid in cash. Utilities and rent for production facilities amounted to $9,300 paid in cash. Depreciation on the plant and equipment used in production amounted to $3,000. There was $24,000 of goods completed during the year. There was $25,500 of finished goods inventory sold for $36,000 cash. A count of the production supplies revealed a balance of $178 on hand at the end of the year. Any over- or underapplied overhead is considered to be insignificant. Required a. Prepare T-accounts with the beginning balances shown in the preceding list and record all transactions for the year including closing entries in the T-accounts. b-1. Prepare a schedule of cost of goods manufactured and sold. b-2. Prepare an income statement. b-3. Prepare a balance sheet.

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