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Debora [2.8K]
3 years ago
11

Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 35,000 barrels of oil

for purchase in June for $90 per barrel. Direct labor budgeted in the chemical process was $240,000 for June. Factory overhead was budgeted at $400,000 during June. The inventories on June 1 were estimated to be: Oil $15,200 P1 8,300 P2 8,600 Work in process 12,900 The desired inventories on June 30 were: Oil $16,100 P1 9,400 P2 7,900 Work in process 13,500 Use the preceding information to prepare a cost of goods sold budget for June. For those boxes in which you must enter subtracted or negative numbers use a minus sign.
Business
1 answer:
alexgriva [62]3 years ago
5 0

Answer:

Befinning inventory           45,000

Add: Direct Materials        3,150,000

Labor                                    240,000

Overhead                             400,000

Avaialble for sale                 3,835,000

Less: Ending Inventory           46,900

Cost Of Goods Sold              3,788,100

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Firms outside of trading areas run the risk of being shut out of the single market by the creation of a Multiple Choice ""trade
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Answer:

"trading fortress."

Explanation:

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Builder Products, Inc., uses the weighted-average method in its process costing system. It manufactures a caulking compound that
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Explanation:

Beginning WIP inventory                    74000  

Add: Units started during May           390000  

Less: Ending inventory                        34000  

Units completed and transferred       430000  

1                        Equivalent Units

                                                            Whole units Materials    Conversion

Beginning WIP inventory                    74000           74000        74000

Started & completed                          356000     356000        356000

Ending inventory                                34000           23800         10200

Units accounted for                           464000         453800        440200

                                                                Materials Conversion  

Equivalent units of production         453800    440200  

2    

Cost Data:                                                 Total Material Conversion

Beginning WIP inventory                  142800     98800       44000

Current costs                                      755960    513830      242130

Total cost to account for                    898760    612630      286130

Divided by Equivalent units                                    453800 440200

Cost per Equivalent unit                           2.00      1.35 0.65

Materials Conversion  

Cost per Equivalent unit                           1.35 0.65  

3    

Cost Assignment:    

Ending Work in process:    

Material                                                 32130  

Conversion                                            6630  

Total Ending Work in process             38760  

4    

Cost of units completed and transferred    

Material                                                 580500  

Conversion                                            279500  

Total                                                       860000  

5    

Cost to be accounted for:    

Beginning WIP inventory                       142800  

Current costs                                          755960  

Total costs to be accounted for            898760  

Cost accounted for as follws:    

Cost of units completed and transferred 860000  

Cost of ending work in process            38760  

Total costs accounted for                      898760  

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<span>perhaps u want the formula for the percentage of markup, giving the cost and selling price.
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</span>
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