Chapter _1 - Group Problem

Chapter _1 - Group Problem - ACC 208: Managerial Accounting...

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ACC 208: Managerial Accounting for Decision Making Chapter #1 – Group Questions Group #: ___________________ 1. Juniper Company has provided the following data concerning its manufacturing cost and work in process inventories last month: Raw materials used in production $ 270,000 Direct labor 140,000 Manufacturing overhead 190,000 Beginning work in process inventory 50,000 Ending work in process inventory 80,000 The cost of goods manufactured for the month was: (a) $730,000; (b) $630,000; (c) $600,000; (d) $570,000. 2. Vonder Inc. has provided the following data concerning its finished goods inventories last month: Beginning finished goods inventory $ 110,000 Cost of Goods manufactured 760,000 Ending finished goods inventory 70,000 The cost of goods sold for the month was: (a) $800,000; (b) $720,000; (c) 950,000; (d) $280,000. 3. Classify each of the following costs as either period costs or product costs. Also indicate whether the cost is fixed or variable with respect to changes in the amount of
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Chapter _1 - Group Problem - ACC 208: Managerial Accounting...

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