Depreciation of CD image burner MO Salary of factory manager MO Factory

Depreciation of cd image burner mo salary of factory

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Depreciation of CD image burner (MO) Salary of factory manager (MO) Factory supplies used (MO) Paper inserts for CD cases (DM) CD plastic cases (DM) Salaries of factory maintenance employees (MO) Salaries of employees who burn music onto CDs (DL)
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Weygandt et al 7 INTL ED DO IT! 1-3 TOMLIN COMPANY Cost of Goods Manufactured Schedule For the Month Ended April 30 Work in process, April 1 ..................................... $ 5,000 Direct materials .................................................. Raw materials, April 1 .................................... $ 10,000 Raw materials purchases .............................. 98,000 Total raw materials available for use ............. 108,000 Less: Raw materials, April 30 ....................... 14,000 Direct materials used ..................................... $ 94,000 Direct labor ......................................................... 80,000 Manufacturing overhead .................................... 160,000 Total manufacturing costs .................................. 334,000 Total cost of work in process .............................. 339,000 Less: Work in process, April 30 ......................... 3,500 Cost of goods manufactured .............................. $335,500 DO IT! 1-4 f a c h d e b g
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Weygandt et al 7 INTL ED SOLUTIONS TO EXERCISES EXERCISE 1-1 1. False. Financial accounting focuses on providing information to external users. 2. False. Line positions are directly involved in the company's primary revenue-generating operating activities. 3. False. Preparation of budgets is part of managerial accounting. 4. False. Managerial accounting applies to service , merchandising and manufacturing companies. 5. True. 6. False. Managerial accounting reports are prepared as frequently as needed . 7. True. 8. True. 9. False. Financial accounting reports must comply with generally accepted accounting principles. 10. False. The company treasurer reports directly to the vice president of finance/chief financial officer. EXERCISE 1-2 1. (b) Direct labor.* 2. (c) Manufacturing overhead. 3. (c) Manufacturing overhead. 4. (c) Manufacturing overhead. 5. (a) Direct materials. 6. (b) Direct labor. 7. (c) Manufacturing overhead. 8. (c) Manufacturing overhead. 9. (c) Manufacturing overhead. 10. (a) Direct materials. *or sometimes (c), depending on the circumstances
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