Chapter 2 - Presentation Solutions 2009

Chapter 2 - Presentation Solutions 2009 - Chapter #2...

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Chapter #2 Presentation Solutions Brief Exercise 2-1 a. Job-order costing b. Job-order costing c. Process costing d. Job-order costing e. Process costing* f. Process costing* g. Job-order costing h. Job-order costing i. Job-order costing j. Job-order costing k. Process costing l. Process costing *Some of the listed companies might use either a process costing or a job-order costing  system, depending on the nature of their operations and how homogeneous the final  product is. For example, a plywood manufacturer might use job-order costing if it has  a number of different plywood products that are constructed of different woods or  come in markedly different sizes. Acc 208 Presentations Chapter #2 Presentation Solutions 1
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Brief Exercise 2-6 1. Cost of Goods Manufactured Direct materials: Raw materials inventory, beginning. ............................ $24,000 Add: Purchases of raw materials. ................................   53,000     Total raw materials available. ....................................... 77,000 Deduct: Raw materials, ending. ...................................       6,000     Raw materials used in production. ............................... 71,000 Less indirect materials included in manufacturing  overhead. ..................................................................       8,000     $ 63,000 Direct labor. ..................................................................... 62,000 Manufacturing overhead applied to work in process  inventory. ......................................................................       41,000     Total manufacturing costs. .............................................. 166,000 Add: Beginning work in process inventory. .....................       41,000     207,000 Deduct: Ending work in process inventory. .....................       38,000     Cost of goods manufactured. .......................................... $169,000 2. Cost of Goods Sold Finished goods inventory, beginning. ............................ $ 86,000 Add: Cost of goods manufactured. ................................   169,000     Goods available for sale. ................................................ 255,000 Deduct: Finished goods inventory, ending. ....................       93,000     Unadjusted cost of goods sold. ...................................... 162,000 Add: Underapplied overhead. ........................................           8,000     Adjusted cost of goods sold. .......................................... $170,000 Acc 208 Presentations Chapter #2 Presentation Solutions 2
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Brief Exercise 2-7 Parts 1 and 2. Cash
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Chapter 2 - Presentation Solutions 2009 - Chapter #2...

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