ACC 331 Module 1 Spreadsheet Exam Chapters 1-2

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

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

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 ### ...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern