Calculate the following showing below items required for your homework based upon the information. Direct labor hours
Question:
Calculate the following showing below items required for your homework based upon the information.
Direct labor hours used ...............................................................................................750
Direct labor hour rate per hour .................................................................................$6.00
Direct materials purchased ....................................................................................$14,000
Direct materials beginning inventory .......................................................................$7,500
Manufacturing overhead .........................................................................................$1,200
Work in process beginning inventory .....................................................................$2,200
Cost of goods manufactured ................................................................................$17,000
Finished goods ending inventory ............................................................................$3,500
Balance for only job not completed at end of accounting period ............................$5,400
Sales revenue 60 percent markup on cost) ............................................................$28,800
Required:
a) Cost o goods sold.
b) Beginning finished goods inventory.
c) Direct materials used.
d) Ending direct materials inventory.
Ending InventoryThe ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...
Step by Step Answer:
Management Accounting Information for Decision-Making and Strategy Execution
ISBN: 978-0137024971
6th Edition
Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young