ACC 331 Module 1 Spreadsheet Exam Chapters 1-2

ACC 331 Module 1 Spreadsheet Exam Chapters 1-2 - ACC 331...

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Unformatted text preview: ACC 331 Module 2 Worksheets Problems Chapters 1­2 1. A partial listing of costs incurred at Boylen Corporation during March appears below: Direct materials Utilities, factory Sales commissions Administrative salaries Indirect labor Advertising Depreciation of production equipment Direct labor Depreciation of administrative equipment $181,000 $10,000 $69,000 $99,000 $32,000 $75,000 $28,000 $120,000 $49,000 Product Product Period Period Period Period Product Product Period Required: a. List the items from above that would be product costs. b. List the items form above that would be period costs. 2. The following costs relate to one month's activity in Carr Company for June: Indirect labor Rent on factory building Maintenance of equipment Direct material used Utilities on factory Direct labor Selling expense Administrative expense Work in process, beginning Work in process, ending Finished goods, beginning Finished goods, ending $400,000 $300,000 $100,000 $1,200,000 $200,000 $1,500,000 $500,000 $300,000 $800,000 $600,000 $500,000 $250,000 Required: a. Prepare a schedule of Cost of Goods Manufactured in good form. b. Prepare a Cost of Goods Sold Schedule for the month. a. Cost of Goods Manufactured Direct Materials $1,200,000 $1,200,000 Direct labor $1,500,000 $1,500,000 Manufacturing Overhead Indirect labor Rent on factory building Maintenance of equipment Utilities on factory $400,000 $300,000 $100,000 $200,000 $1,000,000 $1,000,000 Total Manufacturing Cost $3,700,000 Add WIP beginning: $800,000 $4,500,000 Deduct WIP ending: $600,000 Cost of Goods Manufactured $3,900,000 b. Cost of Goods Sold Finished goods, beginning Cost of Goods Manufactured Goods Available for Sale Deduct Finished goods, ending COGS $500,000 $3,900,000 $4,400,000 $250,000 $4,150,000 h appears below: Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### Direct material used ### ...
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This note was uploaded on 09/29/2011 for the course ACC 311 taught by Professor Hiles during the Spring '11 term at University of Phoenix.

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