1. Al Marai Corporation has the following cost records for June 2019. OMR 4,500 20,000 Indirect factory labor Direct materials used Work in process, 6/1/19 Work in process, 6/30/19 Finished goods, 6/1/19 Finished goods, 6/30/19 Factory utilities Depreciation, factory equipment Direct labor Maintenance, factory equipment Indirect materials Factory manager's salary 3,000 3,800 5,000 7,500 400 1,400 40,000 1,800 2,200 3,000 Instructions: Prepare a cost of goods manufactured schedule for June 2019.
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- The following product costs are available for Kellee Company on the production of eyeglass frames: direct materials, $32,125; direct labor, $23.50; manufacturing overhead, applied at 225% of direct labor cost; selling expenses, $22,225; and administrative expenses, $31,125. The direct labor hours worked for the month are 3,200 hours. A. What are the prime costs? B. What are the conversion costs? C. What is the total product cost? D. What is the total period cost? E. If 6.425 equivalent units are produced, what is the equivalent material cost per unit? F. What is the equivalent conversion cost per unit?Coops Stoops estimated its annual overhead to be $85,000 and based its predetermined overhead rate on 24,286 direct labor hours. At the end of the year, actual overhead was $90,000 and the total direct labor hours were 24,100. What is the entry to dispose of the over applied or under applied overhead?The following information pertaining to X Co.'s manufacturing operations: Inventories March 1, 2021 March 31, 2021 Direct Materials P36,000 P30,000 Work in process 18,000 12,000 Finished Goods 54,000 72,000 Additional information for the month of March 2021: Direct materials purchased P84,000 Direct manufacturing labor payroll 60,000 Direct manufacturing labor rate per hour 7.50 Factory overhead rate per direct labor hour 10.00
- The following cost incurred by Lucky corporation for October 2019 were as follows: Direct Materials used, P20,000 Indirect materials used, P1,000 Direct labor, P9,000 Indirect labor, P5,000 Other factory cost, P5,000 Selling expenses,P10,000 Administrative expenses, P12,000 Question: How much is the total product cost? a. P62,000 b. P50,000 c. P29,000 d. P40,000 Plz answer fast without plagiarism and don't copy answer plzBubba Manufacturing Company provided the following information for the fiscal year toJune 30, 2020:Inventories 01/07/2019 30/06/2020Direct MaterialsWork-in-ProcessFinished Goods$72,000107,000149,500$65,000128,000141,700Other information:Office cleaner’s wages 4,500Sales Revenue 1,031,000Raw materials purchased 235,000Factory wages 239,700Indirect materials 23,500Delivery truck driver’s wages 15,400Indirect labor 9,500Depreciation on factory plant & equipment 32,000Insurance 1 60,000Depreciation on delivery truck 7,250Utilities 2 118,750Administrative salaries 41,250Special Design Costs 5,000Selling expenses 9,000Sales Commission 2% of gross profit1 Of the total insurance, 66⅔% relates to the factory facilities & 33⅓% relates to general& administrative costs.2 Of the total utilities, 80% relates to the manufacturing facilities & 20% relates to theoffice area.Requirements:a) What was the amount of direct materials used in production?b) What was the amount of manufacturing…The T-account showing the manufacturing overhead activity for Kenneth Corp. for 2018 is as follows: Manufacturing Overhead 210,000 196,000 Read the requirements. Requirement 1. What is the actual manufacturing overhead? Actual manufacturing overhead: S Requirement 2. What is the allocated manufacturing overhead? Allocated manufacturing overhead: S Requirement 3. Is manufacturing overhead underallocated or overallocated? By how much? Manufacturing overhead is by $
- Compute for the total Factory overhead cost of H Department, if the company uses the step method in allocating service department costs and distributes the cost of Department U first, Department V second and finally Department W. * The Madalilangto Ink Company prepared the following table for the year 2019: Service Departments Production Departments H Rent Repairs Fuel Indirect Labor Indirect Materials Heat and Light 250,000 100,000 350,000 157,500 61,000 770,000 120,500 15,000 23,000 9,500 145,000 14,500 30,000 7,000 100,000 94,500 7,000 7,500 6,000 97,500 420,000 170,000 56,500 127,000 60,000 151,200 71,300 50,500 Following is the result of the factory survey regarding service departments: [A] Department U services G, V, and W in the ratio of 2:1:1, respectively; [B] Department V services Department H, G, U, and W in the ratio of 4:3:2:1, respectively; [C] Department W services Department H and G in the ratio of 3:1, respectively. 6,000 1,500 202,500 9,000 94,000 7,500 2,000…6. Peter Senen Company has the following cost data as of Sept 1, 2020 Materials purchased P170,000 200,000 400,000 210,000 50,000 Materials used Direct labor Factory overhead Office rent What is the total prime costs?A manufacturing company shows the following amounts in the cost of goods sold statement and the statement of comprehensive income for the year 2019 January 1. 2019. P 100,000 December 31. 2019 P 150,000 87,000 Materinis Work in process Finished goods Materials used 80,000 Cost of goods sold Cost of goods manufactured Total manufacturing costs 590,000 750,000 800,000 790,000 Required: 1. Work in process, January 1, 2019 2. Finished goods, December 31, 2019 3. Amount of materials purchased in 2019
- Cepeda Corporation has the following cost records for June 2020. Indirect factory labor $5,210 Factory utilities $440 Direct materials used 22,640 Depreciation, factory equipment 1,790 Work in process, 6/1/20 3,580 Direct labor 42,090 Work in process, 6/30/20 3,980 Maintenance, factory equipment 1,810 Finished goods, 6/1/20 5,230 Indirect materials 2,670 Finished goods, 6/30/20 8,520 Factory manager’s salary 3,910 (a) Prepare a cost of goods manufactured schedule for June 2020. CEPEDA CORPORATIONCost of Goods Manufactured Schedulechoose the accounting period select an item $enter a dollar amount select a name for subsection one $enter a dollar amount select a name…Cepeda Corporation has the following cost records for June 2020. Indirect factory labor $5,210 Factory utilities $440 Direct materials used 22,640 Depreciation, factory equipment 1,790 Work in process, 6/1/20 3,580 Direct labor 42,090 Work in process, 6/30/20 3,980 Maintenance, factory equipment 1,810 Finished goods, 6/1/20 5,230 Indirect materials 2,670 Finished goods, 6/30/20 8,520 Factory manager’s salary 3,910 Prepare an income statement through gross profit for June 2020 assuming sales revenue is $87,710. CEPEDA CORPORATIONIncome Statement (Partial)choose the accounting period select an income statement item $enter a dollar amount select an opening name for section two select an income…The given miscellaneous data has been collected for a manufacturing company for the year ended 12/31/2020. Inventories: • Beginning - raw material_P50,000 - work in process_P40,000 - finished goods_P60,000 • Ending - raw material_P55,000 - work in process_P45,000 - finished goods_P50,000 costs recorded during the year: - purchases of raw material_P195,000 - direct labor_P150,000 - COGS_P595,000 - freight out_P25,000 - purchase discount_P32,000 - purchase return and allowances_P23,000 Required: Prepare a statement of cost of goods manufactured.