MillerM.ACC350 #E18-14, 22, 23, 42

MillerM.ACC350 #E18-14, 22, 23, 42 - DirecT labor $89,000...

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A Financial B Creditors, Stockholders C Controlling D Managers E Financial F Managerial G Planning
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Description Amount Work-in-process (Beginning) $100,000 Direct Materials: Opening Balance $58,000 $157,000 ($22,000) Direct materials used $193,000 Direct labor $129,000 Factory overhead: Depreciation on plant, building, and equipment $13,000 Insurance on plant $21,000 Repairs and maintenance- Plant $4,000 Indirect labor $30,000 $68,000 Total manufacturing cost $390,000 Total cost of work-in-process $490,000 Less: work-in-process (closing) ($63,000) Cost of goods manufactured $427,000 Part 2 Unit product cost= Cost of good $427,000/ 2135 lamps $200 per lamp Add: Purchases Less: Closing Balance
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ds manufactured/ Numbers of units manufactured
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Description Amount Work-in-process $38,000 Direct materials: Opening balance $20,000 Add: purchases $75,000 Less: Closing balance ($26,000) Direct materials used $69,000
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Unformatted text preview: DirecT labor $89,000 ManufacTuring overhead $42,000 Total manufacturing cost $200,000 Total cost of work-in-process $238,000 Less: Work-in-process (closing) ($34,000) Cost of goods manufactured $204,000 CosT of goods sold= (opening Fnished goods +CosT of $14,000 +$204,000 - $22,000 $196,000 CosT of goods sold = goods manufactured- closing Fnished goods) Descripton AmounT Work-in-process (Beginning) DirecT MaTerials: Opening Balance $10,800 $18,000 ($9,600) DirecT maTerials used $19,200 DirecT labor $200,000 FacTory overhead: PlanT janiTorial services $200 Utlites for planT $11,000 RenT on planT $12,000 $23,200 Total manufacturing cost Total cost of work-in-process Less: work-in-process (closing) Cost of goods manufactured Add: Purchases Less: Closing Balance $0 $242,400 $242,400 ($23,000) $219,400...
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