Crunchem Cereal Company incurred the following actual costs during 20x1. Direct material used Direct labor $...
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Crunchem Cereal Company incurred the following actual costs during 20x1. Direct material used Direct labor $ 290,000 120,000 252,000 Manufacturing overhead The firm's predetermined overhead rate is 210 percent of direct-labor cost. The January 1 inventory balances were as follows: Raw material $ 31,000 Work in process 40,000 44,000 Finished goods Each of these inventory balances was 10 percent higher at the end of the year. equired: Prepare a schedule of cost of goods manufactured for 20x1. Required: 1. Prepare a schedule of cost of goods manufactured for 20x1. Direct material: Raw material used Total manufacturing costs Subtotal CRUNCHEM CEREAL COMPANY Schedule of Cost of Goods Manufactured For the Year Ended December 31, 20x1 Cost of goods manufactured Crunchem Cereal Company incurred the following actual costs during 20x1. Direct material used Direct labor $ 290,000 120,000 252,000 Manufacturing overhead The firm's predetermined overhead rate is 210 percent of direct-labor cost. The January 1 inventory balances were as follows: Raw material $ 31,000 Work in process 40,000 44,000 Finished goods Each of these inventory balances was 10 percent higher at the end of the year. equired: Prepare a schedule of cost of goods manufactured for 20x1. Required: 1. Prepare a schedule of cost of goods manufactured for 20x1. Direct material: Raw material used Total manufacturing costs Subtotal CRUNCHEM CEREAL COMPANY Schedule of Cost of Goods Manufactured For the Year Ended December 31, 20x1 Cost of goods manufactured
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The cost of goods manufactured includes the cost of goods that are finish... View the full answer
Related Book For
Managerial Accounting Creating Value in a Dynamic Business Environment
ISBN: 978-0078110917
9th edition
Authors: Ronald W. Hilton
Posted Date:
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