Mustang Corporation reports the following for the month of April: Finished goods inventory, April 1 $ 31,300
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Question:
Mustang Corporation reports the following for the month of April:
Finished goods inventory, April 1 | $ | 31,300 | |
Finished goods inventory, April 30 | 25,500 | ||
Total cost of goods manufactured | 118,700 | ||
The cost of goods sold for April is:
$61,900.
$124,500.
$112,900.
$173,700.
$150,000.
Current information for the Healey Company follows:
Beginning raw materials inventory $ 17,100 Raw material purchases 61,900 Ending raw materials inventory 18,500 Beginning work in process inventory 24,300 Ending work in process inventory 29,900 Direct labor 44,700 Total factory overhead 31,900
All raw materials used were traceable to specific units of product. Healey Company's direct materials used for the year is:$79,000.
$63,300.
$61,900.
$60,500.
$80,400.
3.
Richards Company manufactures a single product. All raw materials used are traceable to specific units of product. Current information for the company follows:
Beginning raw materials inventory $ 17,000 Ending raw materials inventory 19,000 Raw material purchases 97,000 Beginning work in process inventory 47,000 Ending work in process inventory 32,000 Direct labor 137,000 Total factory overhead 67,000 Beginning finished goods inventory 62,000 Ending finished goods inventory 52,000
The company's cost of direct materials used, cost of goods manufactured and cost of goods sold are:Multiple Choice
D. $95,000 $314,000 $324,000 B. $99,000 $314,000 $324,000 Cost of Materials Used Cost of Goods Manufactured Cost of Goods Sold A. $97,000 $314,000 $304,000 E. $99,000 $284,000 $314,000 C. $95,000 $284,000 $304,000
Related Book For
Fundamentals of Cost Accounting
ISBN: 978-1259565403
5th edition
Authors: William Lanen, Shannon Anderson, Michael Maher
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