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    The document provides information and requirements for three exercises calculating different costs. The first exercise asks to calculate the cost of goods manufactured and total costs for a company that incurred $10,000 in materials, $5,000 in labor, and $5,000 in factory overhead for the month, plus $7,500 in selling expenses and $8,500 in administrative expenses. The second exercise asks to calculate the cost of goods manufactured for a company that had $50,000 in beginning work-in-process inventory, incurred $17,200 in direct labor and $32,100 in factory overhead, and ended with $40,000 in work-in-process inventory. The third exercise asks to prepare a combined statement of

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    The document provides information and requirements for three exercises calculating different costs. The first exercise asks to calculate the cost of goods manufactured and total costs for a company that incurred $10,000 in materials, $5,000 in labor, and $5,000 in factory overhead for the month, plus $7,500 in selling expenses and $8,500 in administrative expenses. The second exercise asks to calculate the cost of goods manufactured for a company that had $50,000 in beginning work-in-process inventory, incurred $17,200 in direct labor and $32,100 in factory overhead, and ended with $40,000 in work-in-process inventory. The third exercise asks to prepare a combined statement of

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    Download as DOCX, PDF, TXT or read online from Scribd
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    46 views1 page

    Exercise

    Uploaded by

    Dedi Juventini
    The document provides information and requirements for three exercises calculating different costs. The first exercise asks to calculate the cost of goods manufactured and total costs for a company that incurred $10,000 in materials, $5,000 in labor, and $5,000 in factory overhead for the month, plus $7,500 in selling expenses and $8,500 in administrative expenses. The second exercise asks to calculate the cost of goods manufactured for a company that had $50,000 in beginning work-in-process inventory, incurred $17,200 in direct labor and $32,100 in factory overhead, and ended with $40,000 in work-in-process inventory. The third exercise asks to prepare a combined statement of

    Copyright:

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    of 1

    EXERCISE 2-3 COST OF GOODS MANUFACTURED AND COST OF OPERATION

    The Huffer manufacturing company manufactures rubber rafts. For the month of
    January, it incurred the following cost :

    Materials……………………..$ 10,000 (80% for direct materials)

    Labor………………………… 5,000 (70% for direct labor)

    Factory overhead……………. 5,000 (for heat, light and power)

    And addition to the costs of production, the company incurred selling expenses of %
    7,500 and general administrative expenses of % 8,500.

    Required : Compute the cost of goods manufactured and the total costs.

    EXERCISE 2-4 COST OF GOODS MANUFACTURED

    The following information relates to the Comfy Water Bed Manufacturing Company :
    At the beginning of the period, there was $ 50,000 in work-in-process inventory.
    During the year , Comfy incurred costs of $ 17,200 for direct labor and $ 32,100 for
    factory overhead (heat, light and power) . at the end of period, there was work in
    process inventory of $40,000.

    Required : compute the cost of goods manufactured for the Comfy Water Bed
    Manufacturing Company.

    EXERCISE 2-5 COST OF GOODS MANUFACTURED AND SOLD STATEMENT

    In September 19x7, the B. B. Gun Company put into process $ 60,000 of raw
    materials (all direct materials). Department A used 15,000 direct labor hours at the
    total cost of $40,000 , and department B used 10,500 direct labor hours at the cost of
    %6 per hour. Factory overhead is applied in department A and B at a rate of %3,75
    and % 4,50 per direct labor hour, respectively. Inventories on September 1 were the
    following: materials, $20,000; work in process, $28,000; finished goods, %15,100. On
    September 30, the inventories were: materials, $18,725; work in process, $24,500;
    finished goods, $ 16,500. The company produced 30,000 units during the month.

    Required : prepare a combined statement of cost of goods manufactured and sold.

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