发布时间 : 星期一 文章cost accounting test bank chapter 2更新完毕开始阅读
9) Helmer Sporting Goods Company manufactured 100,000 units in 2015 and reported the following costs:
Sandpaper $ 32,000 Leasing costs-plant $ 384,000 Materials handling 320,000 Depreciation-equipment 224,000 Coolants & lubricants 22,400 Property taxes-equipment 32,000 Indirect manufacturing labor 275,200 Fire insurance-equipment 16,000 Direct manufacturing labor 2,176,000 Direct material purchases 3,136,000 Direct materials, 1/1/15 384,000 Direct materials, 12/31/15 275,200 Finished goods, 1/1/15 672,000 Sales revenue 12,800,000 Finished goods, 12/31/15 1,280,000 Sales commissions 640,000 Work-in-process, 1/1/15 96,000 Sales salaries 576,000 Work-in-process, 12/31/15 64,000 Advertising costs 480,000 Administration costs 800,000
Required:
a. What is the amount of direct materials used during 2015? b. What manufacturing costs were added to WIP during 2015? c. What is cost of goods manufactured for 2015? d. What is cost of goods sold for 2015? Answer:
a. $384,000 + $3,136,000 - $275,200 = $3,244,800
b. $3,244,800 + $2,176,000 + $32,000 + $320,000 + $22,400 + $275,200 + $384,000 + $224,000 + $32,000 + $16,000 = $6,726,400
c. $6,726,400 + $96,000 - $64,000 = $6,758,400
d. $6,758,400 + $672,000 - $1,280,000 = $6,150,400
Diff: 3
Objective: 6
AACSB: Application of knowledge
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10) Messinger Manufacturing Company had the following account balances for the quarter ending March 31, unless otherwise noted: Work-in-process inventory (January 1) $ 140,400 Work-in-process inventory (March 31) 171,000 Finished goods inventory (January 1) 540,000 Finished goods inventory (March 31) 510,000 Direct materials used 378,000 Indirect materials used 84,000 Direct manufacturing labor 480,000 Indirect manufacturing labor 186,000 Property taxes on manufacturing plant building 28,800 Salespersons' company vehicle costs 12,000 Depreciation of manufacturing equipment 264,000 Depreciation of office equipment 123,600 Miscellaneous plant overhead 135,000 Plant utilities 92,400 General office expenses 305,400 Marketing distribution costs 30,000
Required:
a. Prepare a cost of goods manufactured schedule for the quarter. b. Prepare a cost of goods sold schedule for the quarter.
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Answer: a. Messinger Manufacturing Company Cost of Goods Manufactured Schedule For quarter ending March 31 Direct materials used Direct manufacturing labor Manufacturing overhead Depreciation of manufacturing equipment $264,000 Indirect manufacturing labor 186,000 Indirect materials 84,000 Miscellaneous plant overhead 135,000 Plant utilities 92,400 Property taxes on building 28,800 Manufacturing costs incurred Add beginning work-in-process inventory Total manufacturing costs Less ending work-in-process inventory Cost of goods manufactured b. Messinger Manufacturing Company Cost of Goods Sold Schedule For the quarter ending March 31 Beginning finished goods inventory $ 540,000 Cost of goods manufactured 1,617,600 Cost of goods available for sale 2,157,600 Ending finished goods inventory (510,000) Cost of goods sold $1,647,600 Diff: 3
Objective: 6
AACSB: Application of knowledge
$ 378,000 480,000
790,200 $1,648,200 140,400 $1,788,600 (171,000) $1,617,600 47
Copyright ? 2015 Pearson Education, Inc.
11) Using the following information find the unknown amounts. Assume each set of information is an independent case.
a. Merchandise Inventory Purchases $210,000 Cost of goods sold 223,000 Beginning balance 41,000 Ending balance ?
b. Direct Materials Beginning balance $ 7,000 Ending balance 14,000 Purchases 48,000 Direct materials used ?
c. Work-in-process Inventory Ending balance $ 22,000 Cost of goods manufactured 21,000 Beginning balance 8,000 Current manufacturing costs ?
d. Finished Goods Inventory Cost of goods manufactured $62,000 Ending balance 20,000 Cost of goods sold 61,000 Beginning balance ? Answer:
a. Ending balance of merchandise inventory: $41,000 + $210,000 - $223,000 = 28,000
b. Direct materials used: $7,000 + $48,000 - $14,000 = $41,000
c. Current manufacturing costs: $21,000 + $22,000 - $8,000 = $35,000
d. Beginning balance of finished goods inventory: $20,000 + $61,000 - $62,000 = $19,000
Diff: 3
Objective: 6
AACSB: Analytical thinking
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Copyright ? 2015 Pearson Education, Inc.