Compute the cost of goods manufactured and cost of goods sold for Quality Acquatic Company for the most recent year using the amounts described below. Assume that raw materials inventory contains only direct materials. (Click the icon to view the data.) Start the calculation for cost of goods manufactured by calculating the direct materials used, then calculate the cost of goods manufactured Quality Acquatic Company Schedule of Cost of Goods Manufactured Add: Direct materials used Direct materials used
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The formula for direct materials used is: Direct materials used = Beginning raw materials inventory + Purchases - Ending raw materials inventory Show more…
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Determine the missing amount for each separate situation involving manufacturing cost flows. Direct materials used Direct labor used Factory overhead Total manufacturing costs Work in process inventory, beginning Total cost of work in process Work in process inventory, ending Cost of goods manufactured (1) (2) (3) 75,200 $ 150,680 $ 34,090 122,200 33,040 45,920 243,700 238,900 60,475 289,725 57,120 8,445 265,620 22,745 11,450
Akash M.
The information below has been taken from the cost records of H Company for the past year: Direct materials used: Rs.1,250 Total manufacturing costs: Rs.6,050 Manufacturing overhead: Rs.2,800 Selling expenses: Rs.1,000 Prime Cost: 270% of Purchases Direct materials inventory, January 1: 130 Direct materials inventory, December 31: 80 Work in process, January 1: 250 Work in process, December 31: 400 Finished goods, January 1: 300 Finished goods, December 31: 200 Required: a. Compute the cost of Raw Material purchased. b. Compute the cost of direct labor for the year. c. Compute the Cost of Goods Manufactured for the year. d. Compute the Cost of Goods Sold for the year.
compute total manufacturing cost
Luke H.
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