Question

The following chart shows how costs flow through a business as a product is manufactured. All boxes in the chart show cost amounts. Compute the cost amounts in the empty boxes. Materials Activity Raw materials Inventory, beginning $147,000 Raw materials purchases $538,000 + Raw materials available for use in production $ Direct materials used in production $ Raw materials Inventory, ending $178,000 Production Activity Direct labor used in production $356,000 Work in process Inventory, beginning $86,000 Sales Activity Finished goods Inventory, beginning $ Total work in process $ Cost of goods manufactured $1,595,000 + Cost of goods avalllable for sale Factory overhead used in production $756,000 Work in process Inventory, ending $ Finished goods Inventory, ending $140,100 $1,741,000 Cost of goods sold $

          The following chart shows how costs flow through a business as a product is manufactured. All boxes in the chart show cost amounts.
Compute the cost amounts in the empty boxes.
Materials Activity
Raw materials
Inventory, beginning
$147,000
Raw materials
purchases
$538,000
+
Raw materials available
for use in production
$
Direct materials used
in production
$
Raw materials
Inventory, ending
$178,000
Production Activity
Direct labor used
in production
$356,000
Work in process
Inventory, beginning
$86,000
Sales Activity
Finished goods
Inventory, beginning
$
Total work in
process
$
Cost of goods
manufactured
$1,595,000
+
Cost of goods
avalllable for sale
Factory overhead
used in production
$756,000
Work in process
Inventory, ending
$
Finished goods
Inventory, ending
$140,100
$1,741,000
Cost of goods sold
$

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The following chart shows how costs flow through a business as a product is manufactured. All boxes in the chart show cost amounts.
Compute the cost amounts in the empty boxes.
Materials Activity
Raw materials
Inventory, beginning
147,000
Raw materials
purchases538,000
+
Raw materials available
for use in production
Direct materials used
in production
Raw materials
Inventory, ending
178,000
Production Activity
Direct labor used
in production356,000
Work in process
Inventory, beginning
86,000
Sales Activity
Finished goods
Inventory, beginning
Total work in
process
Cost of goods
manufactured1,595,000
+
Cost of goods
avalllable for sale
Factory overhead
used in production
756,000
Work in process
Inventory, ending
Finished goods
Inventory, ending
140,1001,741,000
Cost of goods sold

Added by Dawn L.

Horngren’s Cost Accounting

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

Instant Answer

Solved by Expert Rabia Sarwar

03/16/2022

Step 1

Step 1: Compute the raw materials available for use in production: Raw materials available for use in production = Raw materials Inventory ending + Raw materials purchases - Inventory, beginning Raw materials available for use in production = $178,000 + Raw Show more…

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Required information The following chart shows how costs flow through a business as a product is manufactured. All boxes in the chart show cost amounts. Compute the cost amounts in the empty boxes. Materials Activity Raw materials purchases Raw materials Raw materials available for use in production $ Raw materials Inventory ending $178,000 Inventory, beginning $147,000 Direct materials used in production $ Production Activity Direct labor used in production $350,000 Factory overhead used in production $756,000 Work In process Inventory, beginning $86,000 Total work in process $[ Work In process Inventory, ending $ Cost of goods manufactured 000'000'00 + Cost of goods available for sale Sales Activity Finished goods Finished goods Inventory, ending Inventory, beginning $1,741,000 $140,100 Cost of goods sold Required information [The following information applies to the questions displayed below.] The following data is provided for Garcon Company and Pepper Company for the year ended December 31. able[[, able[[Garcon],[Company]], able[[Pepper],[Company]]],[Finished goods inventory, beginning,$12,100,$17,650

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