The following cost and inventory data were taken from the records of the Beca Company for the
Question:
The following cost and inventory data were taken from the records of the Beca Company for the year 2008:
Required:
(a) Compute the cost of goods manufactured for 2008.
(b) Prepare a cost of goods sold statement for2008.
Transcribed Image Text:
Costs incurred: Depreciation, factory equipment Depreciation, office equipment Supplies, factory Maintenance, factory equipment Utilities, factory Sales commissions Indirect labor Rent, factory building Purchases of direct materials (net 124,000 Direct labor cost Advertising expense Inventories: January 1, 2008 December 31,2008 Direct Materials Work in Process Finished goods S 30,000 S 7,000 S 1.500 S 20,000 S 8,000 S 30,000 S 54,500 S 70,000 S 80,000 S 90,000 S 9,000 S11,000 S 6,000 S 21,000 S 69,000 S 24,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 78% (14 reviews)
aComputation of the Cost of goods manufactured for 2008 Particulars Amount Amount Begning work in pr...View the full answer
Answered By
BETHUEL RUTTO
Hi! I am a Journalism and Mass Communication graduate; I have written many academic essays, including argumentative essays, research papers, and literary analysis. I have also proofread and written reviews, summaries and analyses on already finished works. I am eager to continue writing!
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Managerial Accounting Tools for Business Decision Making
ISBN: 978-1118856994
4th Canadian edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly
Question Posted:
Students also viewed these Managerial 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 Blumbey Manufacturing Company for the fiscal year ended June 30, 2012. Instructions(a) Prepare a cost of goods manufactured schedule. (Assume all raw...
-
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...
-
Extend the model of this chapter by assuming that the firms cost function has the form C(X,E) satisfying assumption 5.1. (a) Derive the second-best optimal combination of an emission standard (no...
-
For a cylindrical S-590 alloy specimen (Figure 8.31) originally 10 mm (0.40 in.) in diameter and 500 mm (20 in.) long, what tensile load is necessary to produce a total elongation of 145 mm (5.7 in.)...
-
The feed stream to a Claus plant consists of 20.0 mole% H 2 S and 80.0% CO 2 . One-third of the stream is sent to a furnace where the H 2 S is burned completely with a stoichiometric amount of air...
-
Define the major dimensions of social stratification, and explain how they relate to other aspects of culture and society.
-
Barbara is considering investing in a stock and is aware that the return on that investment is particularly sensitive to how the economy is performing. Her analysis suggests that four states of the...
-
Carrie enjoyed observing wildlife in natural habitats. She wanted to be able to hide at a distance but observe wildlife close up in a variety of circumstances. She visited five different shops and...
-
The file P02_12.xlsx includes data on the 50 top graduate programs in the United States, according to a recent U.S. News & World Report survey. Columns B, C, and D contain ratings: an overall rating,...
-
A company ran a regression analysis using direct labor hours as the independent variable and manufacturing overhead costs as the dependent variable. The results are summarized below Intercept...
-
Bird's eye Treehousing Inc. A kentucky company has determined that a majority of its customers are located in the Pennsylvania area. It therefore is considering a lockbox system offered by a bank...
-
MyPhone Inc. uses the total cost concept of applying the cost-plus approach to product pricing. The costs of producing and selling 5,000 units of cellular phones are as follows: MyPhone desires a...
-
Ebertlang Corporation is a provider of computer software and IT services in two of the largest regions of Eastern Europe. In the past, the companys managers have used a single company-wide cost of...
-
At the beginning of the year, Stephanie Jo bought a \($40,000\) par value corporate bond with a 7 percent annual coupon rate and a 12-year maturity date. When she bought the bond, it had an expected...
-
In December 2015, Alpha Technologies PLC issued coupon bonds with par value 100. The coupon rate is 8 percent annually and the bonds will be redeemed at par value in December 2020. What is the price...
-
Suppose you own the share of Estate Lancaster PLC and the expected dividends on this share is 0.17 in one year. Calculate the holding-period dollar gain and return on this share if its current price...
-
San Miguel Companys 18-year, \($1,000\) par value bonds pay 6.5 percent interest annually. The market price of the bonds is \($1,105,\) and your required rate of return is 8.5 percent. a. Compute the...
-
What are three major contingency factors that affect organization design? How do they do so?
-
Presented below are income statements prepared on a LIFO and FIFO basis for Kenseth Company, which started operations on January 1, 2024. The company presently uses the LIFO method of pricing its...
-
Astrid, an employee of Fine Sales Company, takes an outcome-based approach to ethics. Astrid believes that she must a. avoid unethical behavior. b. conform to societys standards. c. place her...
-
Calculating Project OCF Phone Home, Inc., is considering a new three-year expansion project that requires an initial fixed asset investment of $4.2 million. The fixed asset will be depreciated...
-
Calculating Project NPV In the previous problem, suppose the required return on the project is 12 percent, what is the projects NPV?
-
Calculating Project Cash Flow from Assets In the previous problem, suppose the project requires an initial investment in net working capital of $300,000 and the fixed asset will have a market value...
-
According to the video "The Importance of Budgeting," budgeting is a crucial aspect of running a successful business as it helps administrators allocate resources effectively to meet their goals. It...
-
Managing finances is essential for any business, big or small. It involves careful planning and allocation of resources to achieve goals. Budgeting is crucial as it helps firms manage their cash...
-
Your boss (for 1 of the six organizations you have to choose from-Google, Walt Disney Company, Amazon, P&G, 3M, or Ford Motor Company) has asked you to represent the organization in an industry panel...
Study smarter with the SolutionInn App