17. Calculate the cost of goods sold using the followinginformation: Direct materials used $ 298,700 Direct labor
Question:
17. Calculate the cost of goods sold using the followinginformation:
Direct materials used | $ | 298,700 | |
Direct labor used | 132,200 | ||
Factory overhead costs | 264,200 | ||
General and administrative expenses | 85,700 | ||
Selling expenses | 49,000 | ||
Work in Process inventory, January 1 | 118,700 | ||
Work in Process inventory, December 31 | 126,100 | ||
Finished goods inventory, January 1 | 232,300 | ||
Finished goods inventory, December 31 | 238,900 | ||
- $681,100.
- $702,500.
- $687,700.
- $695,100.
- $773,400.
22. current information for the Healey Company follows:
Beginning raw materials inventory | $ | 14,800 | |
Raw material purchases | 56,000 | ||
Ending raw materials inventory | 16,200 | ||
Beginning work in process inventory | 22,000 | ||
Ending work in process inventory | 27,600 | ||
Direct labor | 40,800 | ||
Total factory overhead | 29,600 | ||
All raw materials used were traceable to specific units of product.Healey Company's total manufacturing costs for the year are:
- $119,400.
- $127,800.
- $125,000.
- $130,600.
- $133,800.
28. Bluebird Mfg. has received a special one-time order for15,000 bird feeders at $3.60 per unit. Bluebird currently producesand sells 75,000 units at $7.60 each. This level represents 80% ofits capacity. These bird feeders would be marketed under thewholesaler’s name and would not affect Bluebird’s sales through itsnormal channels. Production costs for these units are $4.40 perunit, which includes $2.55 variable cost and $1.85 fixed cost. IfBluebird accepts this additional business, the effect on net incomewill be:
- $54,000 increase.
- $15,750 increase.
- $38,250 increase.
- $12,000 decrease.
- $38,250 decrease.
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura