Log in
Accounting
1
answer
1
watching
1,012
views

Messana Corporation reported the following data for the month of August:

Inventories: Beginning Ending
Raw materials $36,000 $24,000
Work in process $23,000 $17,000
Finished goods $37,000 $55,000
Additional information:
Raw materials purchases $69,000
Direct labor cost $94,000
Manufacturing overhead cost incurred $54,000
Indirect materials included in manufacturing overhead cost incurred $8,000
Manufacturing overhead cost applied to Work in Process $56,000



The adjusted cost of goods sold that appears on the income statement for August is:

A) $211,000

B) $209,000

C) $247,000

D) $229,000

Watch
1
answer
1
watching
1,012
views

For unlimited access to Homework Help, a Homework+ subscription is required.

Deanna Hettinger
Deanna HettingerLv2
28 Sep 2019

Unlock all answers

Get 1 free homework help answer.
Already have an account? Log in
Share

Related questions

Entin Corporation reported the following data for the month ofJanuary: Beginning Ending Inventories: Raw materials $ 45,000 $51,000 Work in process $ 24,000 $ 30,000 Finished goods $ 58,000 $60,000 Additional information: Raw materials purchases $ 78,000Direct labor cost $ 101,000 Manufacturing overhead cost incurred $77,000 Indirect materials included in manufacturing overhead costincurred $ 2,000 Manufacturing overhead cost applied to Work inProcess $ 74,000 The cost of goods manufactured for January is:254,000 256,000 239,000 243,000

EXERCISE 3-6 Schedules of Cost of Goods Manufactured and Cost of Goods Sold [LO3-6] Primare Corporation has provided the following data concerning last month's manufacturing operations. $30,000 $5,000 $58,000 $87,000 $4,000 Purchases of raw materials ........... Indirect materials included in manufacturing overhead ........ Direct labor ........ Manufacturing overhead applied to work in process ........ Underapplied overhead ........ Inventories Beginning Raw materials ............ $12,000 Work in process.. $56,000 Finished goods $35,000 Ending $18,000 $65,000 $42,000 Required: 1. Prepare a schedule of cost of goods manufactured for the month. 2. Prepare a schedule of cost of goods sold for the month.

9.. Cerrone Inc. has provided the following data for the monthof July. The balance in the Finished Goods inventory account at thebeginning of the month was $54,000 and at the end of the month was$40,400. The cost of goods manufactured for the month was $269,000.The actual manufacturing overhead cost incurred was $145,100 andthe manufacturing overhead cost applied to Work in Process was$133,000. The adjusted cost of goods sold that would appear on theincome statement for July is: $270,500 $282,600 $294,700 $255,40010.. Meyers Corporation had the following inventory balances at thebeginning and end of November: November 1 November 30 Raw Materials$ 40,000 $ 18,000 Finished Goods $ 110,000 $ 75,000 Work in Process$ 16,000 $ 25,000 During November, $85,000 in raw materials (alldirect materials) were drawn from inventory and used in production.The company's predetermined overhead rate was $7 per directlabor-hour, and it paid its direct labor workers $9 per hour. Atotal of 500 hours of direct labor time had been expended on thejobs in the beginning Work in Process inventory account. The endingWork in Process inventory account contained $10,000 of directmaterials cost. The Corporation incurred $60,000 of actualmanufacturing overhead cost during the month and applied $55,000 inmanufacturing overhead cost. 10. Required information The directmaterials cost in the November 1 Work in Process inventory accounttotaled: $12,500 $8,000 $11,500 $4,500 11... The actual directlabor-hours worked during November totaled: (Round your answers tothe nearest dollar.) 6,667 hours 8,571 hours 6,111 hours 7,857hours 12. On August 1, Shead Corporation had $30,400 of rawmaterials on hand. During the month, the company purchased anadditional $80,000 of raw materials. During August, $85,100 of rawmaterials were requisitioned from the storeroom for use inproduction. These raw materials included both direct and indirectmaterials. The indirect materials totaled $4,000. Prepare journalentries to record these events. Use those journal entries to answerthe following questions: The credits to the Raw Materials accountfor the month of August total: $85,100 $80,000 $110,400 $81,10013...On August 1, Shead Corporation had $30,400 of raw materials onhand. During the month, the company purchased an additional $80,000of raw materials. During August, $85,100 of raw materials wererequisitioned from the storeroom for use in production. These rawmaterials included both direct and indirect materials. The indirectmaterials totaled $4,000. Prepare journal entries to record theseevents. Use those journal entries to answer the followingquestions: The credits to the Raw Materials account for the monthof August total: $85,100 $80,000 $110,400 $81,100

Weekly leaderboard

Home
Homework Help 3,900,000
Accounting 580,000
Start filling in the gaps now
Log in