Question

How much were Ocampo Company's total cost of goods sold for March? Beginning balances on March 1st are below: Work in process: $5,000 Finished goods: $2,000 Ending balances for March 31 were: Work in process: $0 Finished goods of $4,000 In March, the following happened: \begin{itemize} \item Purchased $20,000 of raw materials and used $15,000 of direct raw materials in production \item Incurred $18,000 of direct labor \item Incurred $4,000 of rent on its administrative building \item Manufacturing overhead applied was $10,000 for the month. \end{itemize} Question 15 3 pts Below is Gayatri Guitar's operating income from November where it sells one product, guitar. The product has a sales price of $200 per unit. What is Gayatri Guitars' margin of safety in dollars for November? (round to the nearest whole number) Revenues $ 900,000 Variable Expenses $ 540,000 Fixed Expenses $ 170,000

          How much were Ocampo Company's total cost of goods sold for March?
Beginning balances on March 1st are below:
Work in process: $5,000
Finished goods: $2,000
Ending balances for March 31 were:
Work in process: $0
Finished goods of $4,000
In March, the following happened:
\begin{itemize}
\item Purchased $20,000 of raw materials and used $15,000 of direct raw materials in production
\item Incurred $18,000 of direct labor
\item Incurred $4,000 of rent on its administrative building
\item Manufacturing overhead applied was $10,000 for the month.
\end{itemize}
Question 15
3 pts
Below is Gayatri Guitar's operating income from November where it sells one product,
guitar. The product has a sales price of $200 per unit. What is Gayatri Guitars' margin of
safety in dollars for November? (round to the nearest whole number)
Revenues	$ 900,000
Variable Expenses	$ 540,000
Fixed Expenses	$ 170,000

Show more…

How much were Ocampo Company's total cost of goods sold for March?
Beginning balances on March 1st are below:
Work in process: 5,000
Finished goods:2,000
Ending balances for March 31 were:
Work in process: 0
Finished goods of4,000
In March, the following happened:

* Purchased 20,000 of raw materials and used15,000 of direct raw materials in production

* Incurred 18,000 of direct labor

* Incurred4,000 of rent on its administrative building

* Manufacturing overhead applied was 10,000 for the month.

Question 15
3 pts
Below is Gayatri Guitar's operating income from November where it sells one product,
guitar. The product has a sales price of200 per unit. What is Gayatri Guitars' margin of
safety in dollars for November? (round to the nearest whole number)
Revenues 900,000
Variable Expenses 540,000
Fixed Expenses 170,000

Added by Andr-S D.

Horngren’s Cost Accounting

Srikant M. Datar, Madhav V. Rajan 16th Edition

Instant Answer

Solved by Expert Akash M

09/08/2023

Step 1

Step 1: Calculate the total cost of goods sold for March - Calculate the cost of goods manufactured: - Beginning work in process + Purchased raw materials - Ending work in process = Cost of goods manufactured - $5,000 + $20,000 - $0 = $25,000 - Calculate the Show more…

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How much were Ocampo Company's total cost of goods sold for March? Beginning balances on March 1st are below Work in process: $5,000 Finished goods: $2,000 Ending balances for March 31 were Work in process: $0 Finished goods: $4,000 In March, the following happened: Purchased $20,000 of raw materials and used $15,000 of direct raw materials in production Incurred $18,000 of direct labor Incurred $4,000 of rent on its administrative building Manufacturing overhead applied was $10,000 for the month. Question 15 3 pts Below is Gayatri Guitar's operating income from November where it sells one product, guitars. The product has a sales price of $200 per unit. What is Gayatri Guitars' margin of safety in dollars for November? (round to the nearest whole number) Revenues $900,000 Variable Expenses $540,000 Fixed Expenses $170,000

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Transcript

00:02 There are five questions given to us.

00:04 So let's answer them one by one.

00:07 So first, cost classifications for preparing financial statements.

00:22 Statements.

00:36 Total product cost.

00:47 So total direct materials added to total direct labors added to total variable manufacturing overhead added to total fixed manufacturing overhead.

01:30 So now putting in the values $83 ,000 added to $42 ,000 added to $20 ,600 added to $32 ,200.

01:58 So evaluating it, we get $1 ,17 ,800.

02:05 Then b total period cost.

02:12 So we have to add total variable selling expense added to total fixed selling expense added to total variable administrative expense added to total fixed administrative expense.

02:30 So now putting in the values $14 ,800 added to $23 ,600 added to $5 ,400 added to $800.

02:44 So evaluating it, we get $44 ,600.

02:49 Cost classifications for assigning cost to cost objectives.

03:12 So total direct manufacturing cost.

03:23 So direct materials added to direct labor.

03:32 Now putting in the values $83 ,000 added to $42 ,000.

03:45 So evaluating it, we get $1 ,25 ,000.

03:50 Then b total indirect manufacturing cost.

03:58 Manufacturing cost.

04:07 So total manufacturing overhead that is total manufacturing overhead subtracted from variable manufacturing overhead.

04:20 So now putting in the values $52 ,800 subtracted from $20 ,600.

04:29 So evaluating it, we get $32 ,200.

04:36 Then three cost classifications for manufacturers.

04:57 Total manufacturing cost.

05:04 So total direct manufacturing cost added to total indirect manufacturing cost.

05:16 So putting in the values $1 ,25 ,000 added to $32 ,200.

05:24 So evaluating it, we get $1 ,57 ,200.

05:32 B total non -manufacturing cost...

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