The following data were taken from the books of MrRon Co. for the month of September...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The following data were taken from the books of MrRon Co. for the month of September Units Department 1 Department 2 Department 3 Total Started Completed and transferred In process, end Stage of completion Cost Materials Labor Overhead 80,000 75,000 5,000 70% 600,000 353,250 117,750 55,000 20,000 55% 261,300 242,880 73,260 50,000 5,000 90% 52,250 40,330 17,440 913,550 636,460 208,450 1,758,460 Dept 1 Materials are added at the beg of the process Dept 2 Materials are added 20% at the beg of the process, 40% at 50% stage of completion and the remaining is at the end of the process Dept 3 Materials are added 50% at the beg and 50% at the 70% stage of completion Prepare for a statement of Cost of Goods manufactured The following data were taken from the books of MrRon Co. for the month of September Units Department 1 Department 2 Department 3 Total Started Completed and transferred In process, end Stage of completion Cost Materials Labor Overhead 80,000 75,000 5,000 70% 600,000 353,250 117,750 55,000 20,000 55% 261,300 242,880 73,260 50,000 5,000 90% 52,250 40,330 17,440 913,550 636,460 208,450 1,758,460 Dept 1 Materials are added at the beg of the process Dept 2 Materials are added 20% at the beg of the process, 40% at 50% stage of completion and the remaining is at the end of the process Dept 3 Materials are added 50% at the beg and 50% at the 70% stage of completion Prepare for a statement of Cost of Goods manufactured
Expert Answer:
Answer rating: 100% (QA)
To prepare a statement of Cost of Goods Manufactured for MrRon Co for the month of September we need to calculate the total cost incurred in each depa... View the full answer
Related Book For
Managerial Accounting
ISBN: 978-1259307416
16th edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
Posted Date:
Students also viewed these accounting questions
-
The following data were taken from the records of Cougar Enterprises, a Canadian manufacturer that uses a normal job-order costing system: During December, the company worked on jobs numbered 70...
-
The following data were taken from the records of Clarkson Manufacturing Company for the fiscal year ended June 30, 2012. Instructions (a) Prepare a cost of goods manufactured schedule. (Assume all...
-
The following data were taken from the records of Ruiz Manufacturing Company for the year ended December 31, 2016: Instructions (a) Prepare a cost of goods manufactured schedule. (Assume all raw...
-
Solve each system. x + 4y = - 3x + 2y = 17 -9
-
At the end of 2009, the actual manufacturing costs were $2,100,000 in Machining and $3,700,000 in Assembly. Assume the 55,000 actual machine hours were used in Machining and that actual direct...
-
In Exercises 59 through 74, solve the given equation by factoring. 2 + al 1 2 X 4 2 X = 0
-
Hedging (II) Martha Exporter, Miami Baking Ltd, exports her delicious Marthas Brownies to the United Kingdom and has accounts receivables in pounds sterling of 100,000 in 90 days. Basic data: US...
-
In Part V of the Pinnacle Manufacturing case, you prepared a performance format audit program. In Part VI, sample sizes will be determined by using nonstatistical or attributes sampling, and the...
-
I am confused about the forward rates and zero rates... Problem 4.30. The fol lowing table gives the prices of bonds Bond Principal ($) Time to Maturity (yrs Annual Coupon ($)* Bond Price (53) 100...
-
Morton Corp., a calendar-year C corporation, started business in Year 1. In Year 5, the company sold its office building and office furniture, and purchased a new office building and office...
-
Use the graph to the right to estimate the average rate of change of the percentage of new employees from 1992 to 1999, from 1999 to 2007, and from 1992 to 2007 Using numbers read from the graph, set...
-
Internal auditors must have independence: a. To ensure their objectivity. b. To be able to audit any activity in the organization. c. To be sure they will receive replies to their reports. d. To have...
-
Which of the following should be defined in the charter of the internal auditing department? a. Types of departmental activity reports to be prepared and to whom they should be distributed. b....
-
In determining whether to rely on the work ofthe internal auditor, the external auditor is expected to consider which of the following: a. Hiring practices of the internal auditing department. b....
-
Which of the following may compromise the independence of an internal auditor? a. Reviewing EDP systems prior to implementation. b. Performing an audit where the auditor recently had operating...
-
Assuming that an organization is not already using the digital technologies you identified above, how could using them improve the functioning of its information systems? (E.g. how would using them...
-
The core claim of the question is to prepare an Income Statement with a focus on the behavior of costs concerning the level of sales activity, considering fixed and variable costs. 1. Calculate the...
-
Find the radius of convergence in two ways: (a) Directly by the CauchyHadamard formula in Sec. 15.2. (b) From a series of simpler terms by using Theorem 3 or Theorem 4.
-
Taveras Corporation is currently operating at 50% of its available manufacturing capacity. It uses a job-order costing system with a plant wide predetermined overhead rate based on machine-hours. At...
-
Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its unit costs are as follows: Amount per Unit Direct Materials $6.00, Direct...
-
Clonex Labs, Inc., uses a process costing system. The following data are available for one department for October: The department started 175,000 units into production during the month and...
-
Consider the following game trees. (a) Find all equilibria for the game tree on the left. Which of these are subgameperfect? (b) In the game tree on the right, the payoffs \ (a, b, c, d\) are...
-
Consider the following game tree. (a) What is the number of strategies of player I and of player II? How many reduced strategies does each of the players have? (b) Give the reduced strategic form of...
-
Consider a game \(G\) in strategic form. Recall that the commitment game derived from \(G\) is defined by letting player I choose one of his strategies \(x\), which is then announced to player II,...
Study smarter with the SolutionInn App