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.
