Refer to Figure 2 15 What are the total manufacturing costs added a 18500 b

Refer to figure 2 15 what are the total manufacturing

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164.Refer to Figure 2-15. What are the total manufacturing costs added? a. $18,500b.$19,300c.$29,000 June 1,2016June30,2016Direct materials$1,200$1,400Work in process2,5002,800Finished goods2,3001,900
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Chapter 2: Basic Cost Management Concepts d.$29,300ANSWER: RATIONALE: $6,000 + $1,200 - $1,400 + $10,000 + $13,500 = $29,300 d
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Chapter 2: Basic Cost Management Concepts 165.Refer to Figure 2-15. What is the gross margin (profit)? b 166.Refer to Figure 2-15. What is the cost of goods sold? c 167.Morton Manufacturing shows cost of goods sold for the month of March was $90,000. The finished goodsinventory was $15,000 on March 1 and $17,500 on March 31. Beginning and ending work-in-process inventorieswere $20,000 and $25,000, respectively. What was the cost of goods manufactured during March? a 168. Assume the following information for the Blue Knights Corporation for the year ended December 31, 2016:Sales$2,25Cost of goods manufactured for the year1,350Beginning finished goods inventory450Ending finished goods inventory495Selling and administrative expenses300
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Chapter 2: Basic Cost Management Concepts What is the cost of goods sold for the year ended December 31, 2016? a. $1,305b.$1,605c.$1,350d.$1,650ANSWER: RATIONALE: SUPPORTING CALCULATIONS: $1,350 + 450 - $495 = $1,305 a
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Chapter 2: Basic Cost Management Concepts 169.Rebel Yell, Inc., recorded the following data for April:Beginning finished goods inventory$60,000Beginning work-in-process inventory40,000Ending work-in-process inventory80,000Ending finished goods inventory50,000Factory overhead costs200,000Direct materials used160,000Direct labor100,000What is the cost of goods manufactured for April? 170.The records of the Williamson Company show the following information:Direct materials used$90,000Direct labor130,000Factory overhead150,000Beginning work-in-process inventory15,000Beginning finished goods inventory20,000Ending work-in-process inventory42,000Selling and administrative expenses37,500What was the cost of goods manufactured during the year?
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Chapter 2: Basic Cost Management Concepts 171.Which of the following is NOT an example of a difference between the income statement of a service organizationand the income statement of a manufacturing organization? a
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