Question: Simple problems. Corrections for all problems please! Anderson Inc. issued $171,950 in raw materials to production (of the $171,950, $30,491 were not traceable to specific
Simple problems. Corrections for all problems please!
Anderson Inc. issued $171,950 in raw materials to production (of the $171,950, $30,491 were not traceable to specific jobs). The credit to Raw Materials Inventory would be ?
171950-30491 is wrong
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Anderson Inc. issued $162,930 in raw materials to production (of the $162,930, $35,420 were not traceable to specific jobs). The debit to Work in Process would be ?
162930 is wrong
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Parker Company makes custom chef aprons. Parker has the following costs in its manufacturing company related to labor.
| Wages paid to seamstresses | $12,873 |
| Wages paid to sales team | 15,473 |
| Wages paid to cutters | 11,766 |
| Wages paid to the seamstress supervisor | 16,721 |
| Office managers salary | 18,050 |
| Sales Commissions | 5,260 |
What are Parker Company's direct labor costs?
12873 is wrong
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Kawhi, Inc., which uses a volume-based cost system, produces cat condos, and has a gross profit margin of 68%. Direct materials cost $19 per unit, and direct labor costs $23 per unit. Manufacturing overhead is applied at a rate of 140% of direct labor cost. Nonmanufacturing costs are $13 per unit.
How much does each cat condo sell for?
19 + 23 + 23*1.4 is 74.20 then 74.20 *.68 is 50.456 then 74.20+50.456 is wrong
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Ginobili Corp has the following information:
|
| Beginning Inventory (1/1) |
| Ending Inventory (12/31) | ||
| Raw Materials Inventory | $ | 24,421 |
| $ | 22,877 |
| Work in Process Inventory | $ | 10,077 |
| $ | 9,013 |
| Finished Goods Inventory | $ | 16,679 |
| $ | 19,957 |
Additional information for the year is as follows:
| Raw materials purchases | $ | 56,387 |
| Direct labor | $ | 44,554 |
| Manufacturing overhead applied | $ | 45,362 |
| Indirect materials | $ | 2,452 |
Compute the cost of goods manufactured.
24421+56387-22877+44554+45362+10077-9013 is wrong
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Ginobili Corp has the following information:
|
| Beginning Inventory (1/1) |
| Ending Inventory (12/31) | ||
| Raw Materials Inventory | $ | 20,605 |
| $ | 21,546 |
| Work in Process Inventory | $ | 11,874 |
| $ | 9,354 |
| Finished Goods Inventory | $ | 15,397 |
| $ | 17,897 |
Additional information for the year is as follows:
| Raw materials purchases | $ | 56,222 |
| Direct labor | $ | 43,238 |
| Manufacturing overhead applied | $ | 47,167 |
| Indirect materials | $ | 2,125 |
Compute the direct materials used in production.
56222+20605-21546 is wrong
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