Question : 121. Current information for the Austin Company follows: Beginning raw materials : 1256469

 

 

121. Current information for the Austin Company follows: 

Beginning raw materials inventory

$15,200

Beginning goods in process inventory

22,400

Ending raw materials inventory

16,600

Ending goods in process inventory

28,000

Direct labor

42,800

Total factory overhead

30,000

Raw material purchases

60,000

 

 

All raw materials used were traceable to specific batches of product. Austin Company’s cost of goods manufactured for the year is:A. $125,800B. $128,600C. $131,400D. $137,000E. $139,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

122. Use the following data to determine the cost of goods manufactured: 

Beginning finished goods inventory

$10,800

Direct labor

30,600

Beginning goods in process inventory

7,200

General and administrative expenses

13,500

Direct materials used

40,500

Ending goods in process inventory

9,000

Indirect labor

6,300

Ending finished goods inventory

9,500

Indirect materials

13,500

Depreciation – factory equipment

7,500

 

 

A. $102,000B. $110,100C. $  96,600D. $113,700E. $100,200

 

 

 

 

 

 

 

 

 

 

 

 

 

123. Use the following data to determine the cost of goods manufactured. 

Beginning finished goods inventory

$ 6,200

Direct labor

15,100

Beginning goods in process inventory

1,500

General and administrative expenses

20,000

Direct materials used

20,500

Ending goods in process inventory

4,000

Indirect labor

7,300

Ending finished goods inventory

5,000

Indirect materials

3,400

Depreciation – factory equipment

2,000

 

 

A. $65,800B. $45,800C. $49,500D. $52,300E. $47,100

 

 

 

 

 

 

 

 

 

 

 

 

 

 

124. Use the following information to compute the cost of goods manufactured:

 

Beginning raw materials

$ 5,500

Ending raw materials

4,000

Direct labor

12,250

Raw material purchases

7,400

Depreciation on factory equipment

6,500

Factory repairs and maintenance

3,300

Beginning finished goods inventory

10,200

Ending finished goods inventory

8,900

Beginning goods in process inventory

5,700

Ending goods in process inventory

6,300

 

 

 

A. $36,650B. $30,950C. $30,650D. $30,350E. $31,650

 

 

 

 

 

 

 

 

 

 

125. Use the following information to compute the total manufacturing costs incurred during the period:

 

Beginning raw materials

$ 5,500

Ending raw materials

4,000

Direct labor

12,250

Raw material purchases

7,400

Depreciation on factory equipment

6,500

Factory repairs and maintenance

3,300

Beginning finished goods inventory

10,200

Ending finished goods inventory

8,900

Beginning goods in process inventory

5,700

Ending goods in process inventory

6,300

 

 

A. $36,650B. $30,950C. $30,650D. $30,350E. $31,650

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

126. Use the following information to compute the cost of goods sold for the period:

 

Beginning raw materials

$ 5,500

Ending raw materials

4,000

Direct labor

12,250

Raw material purchases

7,400

Depreciation on factory equipment

6,500

Factory repairs and maintenance

3,300

Beginning finished goods inventory

10,200

Ending finished goods inventory

8,900

Beginning goods in process inventory

5,700

Ending goods in process inventory

6,300

 

 

 

A. $36,650B. $30,950C. $30,650D. $30,350E. $31,650

 

 

 

 

 

 

 

 

 

 

 

 

127. Use the following information to compute the cost of goods manufactured: 

Beginning finished goods inventory

$65,000

Beginning goods in process inventory

81,000

Beginning raw materials

73,000

Depreciation on factory equipment

7,000

Direct labor

25,000

Ending finished goods inventory

67,000

Ending goods in process inventory

79,000

Ending raw materials

60,000

Factory repairs and maintenance

12,000

Raw material purchases

50,000

A. $63,000B. $105,000C. $107,000D. $90,000E. $109,000

 

 

 

 

 

 

 

 

 

 

 

128. Use the following information to compute the cost of goods manufactured: 

Beginning finished goods inventory

$ 9,250

Beginning goods in process inventory

8,700

Beginning raw materials

7,500

Depreciation on factory equipment

6,000

Direct labor

75,000

Ending finished goods inventory

8,750

Ending goods in process inventory

9,300

Ending raw materials

8,500

Factory Supervisor’s salary

50,000

Raw material purchases

14,000

A.  $143,400B.  $13,000C.  $143,000D.  $144,500E.  $93,400

 

 

 

 

 

 

 

 

 

 

Refer to: Figure 14_03

Use the following information for Acme, Inc., as of December 31 to answer the next questions: 

Administrative salaries

$ 32,000

Depreciation of factory equipment

25,000

Depreciation of delivery vehicles

9,000

Direct labor

68,000

Factory supplies used

12,000

Finished goods inventory, January 1

57,000

Finished goods inventory, December 31

68,000

Factory insurance

15,500

Interest expense

12,000

Factory utilities

14,000

Factory maintenance

7,500

Raw materials inventory, January 1

8,000

Raw materials inventory, December 31

4,000

Raw material purchases

125,000

Rent on factory building

25,000

Repairs of factory equipment

11,500

Sales commissions

37,500

Goods in process inventory, January 1

3,500

Goods in process inventory, December 31

2,000

 

 

129. What is the correct amount of direct materials used?

A. $141,000.

B. $125,000.

C. $137,000.

D. $129,000.

E. $138,000.

 

 

 

 

 

 

 

130. What is the correct amount of overhead?

A. $192,000.

B. $110,500.

C. $200,000.

D. $150,000.

E. $  77,500.

 

 

 

 

131. What is the total amount of manufacturing costs added to Goods In Process?

A. $393,000.

B. $325,000.

C. $389,500.

D. $397,000.

E. $307,500.

 

 

 

 

 

 

 

 

132. What is the correct amount of cost of goods manufactured?

A. $398,500.

B. $386,000.

C. $309,000.

D. $306,000.

E. $296,500.

 

 

 

 

 

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