Ch16 answers

Ch16 answers - Student Name Class McGraw-Hill/Irwin Problem...

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Student Name: Class: McGraw-Hill/Irwin Problem 16-03 SUPERIOR LOCKS, INC. Computations a. Purchases of direct materials b. Cost of direct materials used: Materials inventory, beginning of year Add: Purchases of direct materials Cost of materials available for use Less: Materials inventory, end of year Cost of direct materials used: c. Direct labor costs assigned to production d. Year-end liability for direct wages payable e. Total manufacturing costs: Direct materials used Direct labor costs Manufacturing overhead Total manufacturing costs f. Cost of finished goods manufactured g. Ending inventory of work in process: Work in process inventory, beginning of year Add: Total manufacturing costs Cost of all goods in process during the year Less: Cost of finished goods manufactured Work in process inventory, end of year h. Cost of goods sold: Beginning inventory of finished goods Add: Cost of finished goods manufactured Cost of goods available for sale Less: Ending inventory of finished goods Cost of goods sold i. Total inventory at year-end: Materials Work in process Finished goods Total inventory
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Given Data P16-03: SUPERIOR LOCKS, INC. Materials Inventory Beg. Bal. $13,000 269,000 ? Ending Bal.
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Ch16 answers - Student Name Class McGraw-Hill/Irwin Problem...

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