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3 years ago

The following cost data relate to the manufacturing activities of Chang Company during the just completed year:

Business

1 answer:

aleksandrvk [35]3 years ago

7 0

Answer:

cost of goods manufactured= $890,000

Explanation:

Giving the following information:

Applied Overhead= $485,000

Other costs incurred:

Purchases of raw materials (both direct and indirect) - $400,000

Direct labor costs - $60,000

Inventories:

Raw materials, beginning - $20,000

Raw materials, ending - $30,000

Work in process, beginning - $40,000

Work in process, ending - $70,000

<u>To calculate the cost of goods manufactured, we need to use the following formula:</u>

cost of goods manufactured= beginning WIP + direct materials used + direct labor + allocated manufacturing overhead - Ending WIP

Direct material used= beginning inventory + purchases - ending inventory

Direct material used= 20,000 + (400,000 - 15,000) - 30,000

Direct material used= 375,000

I deduct the indirect material included in manufacturing overhead.

cost of goods manufactured= 40,000 + 375,000 + 60,000 + 485,000 - 70,000

cost of goods manufactured= $890,000

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Answer:

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Explanation:

Data given in the question

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The -7,500 is come from = (-75,000 × 0.10)

The options are as follows

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4 years ago

Scenario 1: Richman Investments provides high-end smartphones to 250 of their 3000 employees. The value of each smartphone is $1

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Answer:

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3 years ago

You own a portfolio that has $2,950 invested in Stock A and $3,700 invested in Stock B. If the expected returns on these stocks

mrs_skeptik [129]

Answer:

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3 years ago

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Serggg [28]

Answer:

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4 years ago

Beginning work in process was $125,000. Manufacturing costs added to production for the month were $835,000. There were $200,000

Nataly_w [17]

Answer:

c. $ 760,000

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For computing the cost of goods manufactured, we have to use the formula which is shown below:

Cost of goods manufactured= Beginning work in process + manufacturing cost - ending work in process

= $125,000 + $835,000 - $200,000

= $760,000

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3 years ago