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Nonamiya [84]
3 years ago
13

Allen Company used $71,000 of direct materials and incurred $37,000 of direct labor costs during the current year. Indirect labo

r amounted to $2,700, while indirect materials used totaled $1,600. Other operating costs pertaining to the factory included utilities of $3,100, maintenance of $4,500, supplies of $1,800, depreciation of $7,900, and property taxes of $2,600. There was no beginning or ending finished goods inventory, but work in process inventory began the year with a $5,500 balance and ended the year with a $7,500 balance. Prepare a statement of cost of goods manufactured. Allen Company Statement of Cost of Goods Manufactured For the Year Ended December 31
Allen Company Statement of Cost of Goods ManufacturedFor the Year Ended December 31
Prepare a statement of cost of goods manufactured.
Allen Company
Statement of Cost of Goods Manufactured
For the Year Ended December 31
Beginning work in process inventory
Direct materials
Direct labor
Factory overhead
Indirect labor
Indirect materials
Total manufacturing costs incurred
Total manufacturing costs
Cost of goods manufactured
Business
1 answer:
mr_godi [17]3 years ago
4 0

Answer:

$130,200

Explanation:

                                  Allen Company

                Statement of cost of goods manufactured

                          For year ended December 31

Opening work in progress inventory                       5,500

Direct Materials                                         71,000

Direct Labour                                             37,000

<u>Factory Overhead</u>

Indirect Labour                     2,700

Indirect Materials                 1,600

Utilities                                  3,100

Maintenance                         4,500

Supplies                                1,800

Depreciation                         7,900  

Property Tax                         <u>2,600</u>             <u>24,200</u>

Total manufacturing cost incurred                            <u>132,200</u>

Total manufacturing cost                                            137,700

Less: Closing work in progress inventory                    <u>7,500</u>

Cost of goods manufactured                                    <u>$130,200</u>

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Answer:

271,500 pounds

Explanation:

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Quarter                               FIRST      SECOND     THIRD     FOURTH

Production in unit                  48000     88000        98000      78000

Raw material per unit               3               3                 3                 3

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Thus,

Need for material  = Production in unit × Raw material per unit

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Quarter                                         FIRST      SECOND     THIRD     FOURTH

Need for material in production  144,000   264,000     294,000     234,000

Desired ending inventory = 25% of next quarter's production needs for material

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ADD:

Desired ending inventory             66000       73500      58500  

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Total need of material = Need for material in production + Desired ending inventory

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Quarter                               FIRST      SECOND     THIRD      FOURTH

Total need of material =       210,000    337,500     352,500  

Beginning inventory             38000  66000       73500  

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Total purchase = Total need of material - Beginning inventory

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Quarter                               FIRST      SECOND     THIRD      FOURTH

Total purchase =                   172,000     271,500      279,000

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The answer is  271,500 pounds

5 0
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3 0
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Answer:

see below

Explanation:

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<u> Four measures that may control inflation include</u>

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5 0
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Answer:

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Therefore the above should be the answer

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6 0
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fomenos

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8 0
2 years ago
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