Question: Peyton Manufacturing has the following data: Work-in-process inventory, January 1, 20x8 $ 43,000 Work-in-process inventory, December 31, 20x8 48,500 Conversion costs during the year 415,000

Peyton Manufacturing has the following data:

Work-in-process inventory, January 1, 20x8 $ 43,000
Work-in-process inventory, December 31, 20x8 48,500
Conversion costs during the year 415,000

If direct materials used during the year were $135,000, what was cost of goods manufactured?

If the cost of goods manufactured for the year was $565,000, what was the amount of direct materials used during the year?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

As of September 4, 2016, the film Suicide Squad had an average rating of 3.7 out of 5 based on 117,323 viewer ratings (Rotten Tomatoes website). How are the viewer ratings of Suicide Squad related to...

Q:

Peyton Manufacturing has the following data: Work-in-process inventory, January 1, 20x8 Work-in-process inventory, December 31, 20x8 Conversion costs during the year $60,000 65,500 432,000 points 02...

Q:

Peyton Manufacturing has the following data: Work-in-process inventory, January 1, 20x8 $ 56,000 Work-in-process inventory, December 31, 20x8 61,500 Conversion costs during the year 428,000 If the...

Q:

Peyton Manufacturing has the following data: Work-in-process inventory, January 1, 20x8 $ 67,000 Work-in-process inventory, December 31, 20x8 72,500 Conversion costs during the year 439,000 If the...

Q:

Peyton Manufacturing has the following data: Work-in-process inventory, January 1, 20x8 Work-in-process inventory, December 31, 20x8 Conversion costs during the year $ 59,000 64,500 431,000 If the...

Q:

Peyton Manufacturing has the following data: Work-in-process inventory, January 1, 20x8 $43,000 Work-in-process inventory, December 31, 20x8 $48,500 Conversion costs during the year $415,000 If the...

Q:

Peyton Manufacturing has the following data: Work-in-process inventory, January 1, 20x8 $ 64,000 Work-in-process inventory, December 31, 20x8 69,500 Conversion costs during the year 436,000 If the...

Q:

Peyton Manufacturing has the following data: Work-in-process inventory, January 1, 20x8 $ 57,000 Work-in-process inventory, December 31, 20x8 62,500 Conversion costs during the year 429,000 If direct...

Q:

66. Peyton Manufacturing has the following data: Work-in-process inventory, Jan. 1, 20x8 $ 43,000 Work-in-process inventory, Dec. 31, 20x8 48,500 Conversion costs during the year 415,000 If direct...

Q:

Peyton Manufacturing has the following data: Work-in-process inventory, January 1, 20x8$43,000Work-in-process inventory, December 31, 20x848,500Conversion costs during the year415,000 If direct...

Q:

Consider the following data Work-in-process inventory, January 1, 2019 1000 Work-in-process inventory, December 31, 2019 7000 Conversion costs during the year 93000 Direct materials used 44000...

Q:

Jane wants to set aside funds to take an around the world cruise in four years. Assuming that Jane has $20,000 to invest today in an account expected to earn 6% per annum, how much will she have to...

Q:

Reconsider Prob. 4128. Using EES (or other) software, investigate the effect of the initial temperature of the ice on the final mass required. Let the ice temperature vary from 20 to 0C. Plot the...

Q:

The largest firms in the industry today can be divided into three subgroups, which are Multiple select question. finance companies specializing in leasing and lending to large corporations....

Q:

11. Consider the following balance sheet for WatchoverU Savings, Inc. (in millions): Liabilities and Equity 1-year time deposits (currently 6% annually) 3-year time deposits (currently 7% annually)...