*Brief Exercise 19-1 0 Presented below are incomplete manufacturing cost data. Determine the missing amounts for three different situations. Direct Materials Used Direct Labor Used Factory Overhead (a) 40,000 61,000 50,000 (b) Total Manufacturing Costs 75,000 140,000 296,000 (c) 55,000 111,000 310,000
*Brief Exercise 19-11 Direct Materials Used (a} 40,000 (b) 81,000 (c) 55,000 Direct Labor Used 61,000 75,000 144,000 Factory Overhead 50,000 140,000 111,000 Presented below are incomplete manufacturing cost data. Using the above data, determine the missing amounts. Work in Total Manufacturing Work in Process Cost of Goods Process( December Costs (January 1} Manufactured 31} (a} 120,000 82,000 (b) 296,000 98,000 321,000 (c) 310,000 463,000 715,000
,.. l -. ' *Exercise 19-9 An incomplete cost of goods manufactured schedule is presented below. Complete the cost of goods manufactured schedule for Molina Company. Work in process (1/1) Direct materials Raw materials inventory (1/1) Add: Raw materials purchases Total raw materials available for use Less: Raw materials inventory (12/31) Direct materials used Direct labor Manufacturing overhead Indirect labor Factory depreciation Factory utilities Total overhead Total manufacturing costs Total cost of work in process Less: Work in process (12/31) Cost of goods manufactured MOLINA COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2014 158,000 22,500 18,000 36,000 68,000 190,000 122,000 210,000 81,000 530,000
... r ---o-......_.t.r...-... _,.... ---o-..._.. -... cr--... -... -.,.._..,_~......,... -...... ~-...-... *Exercise 19-10 Manufacturing cost data for Copa Company are presented below. Indicate the missing amount for each letter {a) through {i). Case A Case 8 CaseC Direct materials {a) used 68,400 130,000 Direct labor 57,000 86,000 {g) Manufacturing overhead 46,500 81,600 102,000 Total manufacturing 195,650 {d) 253,700 costs Work in process 1/1/14 {b) 16,500 {h) Total cost of work in process 221,500 {e) 337,000 Work in process 12/31/14 {c) 11,000 70,000 Cost of goods manufactured 185,275 {f) {i)
L-1-I....I._.I.U-..1...J..1...1. \...I. -.&.I. L-1- T -.1...._,WIIJ.I..I..I...I.Io.J'Io.J'..I.V..L..LJ.J.U.6""'.1. V.J...1. '\ *Exercise 19-11 (Part Level Submission) Incomplete manufacturing cost data for Colaw Company for 2014 are presented as follows for four different situations. *(a) Indicate the missing amount for each letter. (2~ fc> 200,000 132,000 450,000 ~d) 40,000 470,000 (3) 80,000 100,000 I ~ ) 255,000 60,000 80,000 I ~f} (4) 70,000 ~g) 75,000 288,000 45,000 ~h) 270,000 *(b)
*Exercise 19-14 (Part Level Submission) The following information is available for Aikman Company. January 1, 2014 2014 December 31, 2014 Raw materials inventory Work in process inventory Finished goods inventory Materials purchased Direct labor Manufacturing overhead Sales revenue 21,000 13,500 27,000 150,000 220,000 180,000 910,000 30,000 17,200 21,000 *(a) Compute cost of goods manufactured. Cost of goods manufactured ~...-.~ *(b) *(c)
*Exercise 19-16 (Part Level Submission) An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended June 30, 2014. Inventories Beginning Ending Raw materials 9,000 13,100 Work in process 5,000 7,000 Finished goods 9,000 8,000 Costs incurred: raw materials purchases 54,000, direct labor 47,000, manufacturing overhead 19,900. The specific overhead costs were: indirect labor 5,500, factory insurance 4,000, machinery depreciation 4,000, machinery repairs 1,800, factory utilities 3,100, miscellaneous factory costs 1,500. Assume that all raw materials used were direct materials. *(a) Prepare the cost of goods manufactured schedule for the month ended June 30, 2014. ROBERTS COMPANY Cost of Goods Manufactured Schedule For the Month Ended June 30, 2014
*(b)
LIST OF ACCOUNTS FOR EXERCISE 20-7 AND 20-13 Accounts Payable Accounts Receivable Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Cash Cost of Completed Service Contracts Cost of Goods Sold Depreciation Expense Employer Fringe Benefits Payable Employer Payroll Taxes Payable Factory Labor Factory Wages Payable Finished Goods Inventory Manufacturing Overhead Operating Overhead Prepaid Insurance Prepaid Property Taxes Property Taxes Payable Raw Materials Inventory Salaries and Wages Payable Sales Revenue Service Contracts in Process Supplies Utilities Payable Work in Process Inventory DROPDOWNS FOR EXERCISE 20-9 (PART LEVEL SUBMISSION) Cost of Goods Manufactured Direct Labor Direct Materials Used Manufacturing Overhead Applied Total Cost of Work in Process Total Manufacturing Costs Work in Process, May 1 Work in Process, May 31 SMALL DROPDOWN Add Less
-. *Exercise 20-7 Torre Corporation incurred the following transactions. 1. Purchased raw materials on account 46,300. 2. Raw Materials of 36,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that 6,800 was classified as indirect materials. 3. Factory labor costs incurred were 55,900, of which 51,000 pertained to factory" wages payable and 4,900 pertained to employer payroll taxes payable. 4. Time tickets indicated that 50,000 was direct labor and 5,900 was indirect labor. 5. Manufacturing overhead costs incurred on account were 80,500. 6. Depreciation on the company's office building was 8,100. 7. Manufacturing overhead was applied at the rate of 150% of direct labor cost. 8. Goods costing 88,000 were completed and transferred to finished goods. 9. Finished goods (a) costing 75,000 to manufacture were (b) sold on account for 103,000. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1.,.II..., 2. 3.,.I ~.-1. 4....,1 ~.-1. '---------------~~~---------------' 5....,1 ~.-1. 6. 7.
a. I... 9(a).. ~1~1 ----~ 9(b) I... ~---~1~1 ----~
*Exercise 20-9 (Part Level Submission) At May 31, 2014, the accounts of Mantle Company show the following. 1. May 1 inventories-finished goods 12,600, work in process 14,700, and raw materials 8,200. 2. May 31 inventories-finished goods 9,500, work in process 48,000, and raw materials 7,100. Debit postings to work in process were: direct materials 62,400, direct labor 50,000, and 3 manufacturing overhead applied 40,000. 4. Sales revenue totaled 210,000. *(a) Prepare a condensed cost of goods manufactured schedule. MANTLE COMPANY Cost of Goods Manufactured Schedule For the Month Ended May 31, 2014 '-----------1 '----------1 *(b) *(c)
*Exercise 20-13 (Part Level Submission) Pure Decorating uses a job order cost system to collect the costs of its interior decorating business. Each client's consultation is treated as a separate job. Overhead is applied to each job based on the number of decorator hours incurred. Listed below are data for the current year. Estimated overhead Actual overhead Estimated decorator hours Actual decorator hours 920,000 942,800 40,000 40,500 The company uses Operating Overhead in place of Manufacturing Overhead. *(a) Compute the predetermined overhead rate. Predetermined overhead rate,, per decorator hour *(b) *(c)