Reed Productions has provided the following information for the year 2015: Direct Labor Beginning Work-in-Process Inventory...

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Reed Productions has provided the following information for the year 2015: Direct Labor Beginning Work-in-Process Inventory Direct Materials Used Ending Work-in-Process Inventory Manufacturing Overhead During the year, Reed produced 71,020 units of product. Calculate the unit product cost. B) $8.00 A) $7.88 $9.52 D) $10.00 $153,000 62,500 271,000 53,850 135,500 7) Which of the following would be considered a direct labor cost for a manufacturing business? B) salaries of the internal auditors D) wages of the factory janitors A) wages of the factory manager C) wages of the assembly line staff 8) The cost of goods sold for Frye Manufacturing in 2015 was $233,000. The January 1, 2015, finished goods inventory balance was $31,600, and the December 31, 2015, finished goods inventory balance was $24,200, Calculate the cost of goods manufactured during 2015. A) $240,400 B) $288,800 C) $225,600 D) $233,000 9) At the beginning of 2015, Swift Inc. Work-in-Process Inventory account had a balance of $120,000. During 2015, $250,000 of direct materials were used in production, and $75,000 of direct labor costs were incurred. Manufacturing overhead amounted to $850,000. The cost of goods manufactured. was $675,000. What is the balance in the Work-in-Process Inventory account on December 31, 2015? A) $230,000 B) $675,000 C) $1,295,000 D) $620,000 10) Kyanite Corporation, a manufacturer reports costs for 2015 as follows: Raw Materials $50,000 Wages to Line Workers 25,000 Office Rent 14,000 Indirect Materials 30,000 How much is the total period costs of Kyanite? A) $14,000 B) $30,000 C) $39,000 D) $80,000 7) 8) 9) 10) Reed Productions has provided the following information for the year 2015: Direct Labor Beginning Work-in-Process Inventory Direct Materials Used Ending Work-in-Process Inventory Manufacturing Overhead During the year, Reed produced 71,020 units of product. Calculate the unit product cost. B) $8.00 A) $7.88 $9.52 D) $10.00 $153,000 62,500 271,000 53,850 135,500 7) Which of the following would be considered a direct labor cost for a manufacturing business? B) salaries of the internal auditors D) wages of the factory janitors A) wages of the factory manager C) wages of the assembly line staff 8) The cost of goods sold for Frye Manufacturing in 2015 was $233,000. The January 1, 2015, finished goods inventory balance was $31,600, and the December 31, 2015, finished goods inventory balance was $24,200, Calculate the cost of goods manufactured during 2015. A) $240,400 B) $288,800 C) $225,600 D) $233,000 9) At the beginning of 2015, Swift Inc. Work-in-Process Inventory account had a balance of $120,000. During 2015, $250,000 of direct materials were used in production, and $75,000 of direct labor costs were incurred. Manufacturing overhead amounted to $850,000. The cost of goods manufactured. was $675,000. What is the balance in the Work-in-Process Inventory account on December 31, 2015? A) $230,000 B) $675,000 C) $1,295,000 D) $620,000 10) Kyanite Corporation, a manufacturer reports costs for 2015 as follows: Raw Materials $50,000 Wages to Line Workers 25,000 Office Rent 14,000 Indirect Materials 30,000 How much is the total period costs of Kyanite? A) $14,000 B) $30,000 C) $39,000 D) $80,000 7) 8) 9) 10)

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Answer to Question 7 The wages of the assembly line staff would be considered a direct labor cost for a manufacturing business Answer to Question 5 Th... View the full answer