26/ Calculate the cost of goods sold using the following information: Multiple C

Question

26/ Calculate the cost of goods sold using the following information:

Multiple Choice

$696,900.

$682,900.

$704,300.

$689,500.

$775,800.

27/ Current information for the Healey Company follows:

All raw materials used were traceable to specific units of product. Healey Company's total manufacturing costs for the year are:

Multiple Choice

$113,000.

$121,400.

$118,600.

$124,200.

$128,600.

28/ Using the information below for Singing Dolls, Inc., determine cost of goods manufactured for the year:

Multiple Choice

$55,000.

$99,500.

$61,500.

$14,000.

$47,500.

29/ Using the information below for Sundar Company; determine the total manufacturing costs added during the current year:

Multiple Choice

$97,700.

$44,100.

$97,100.

$43,500.

$77,800.

30/ If beginning and ending work in process inventories are $6,400 and $16,400, respectively, and cost of goods manufactured is $184,000, what is the total manufacturing cost for the period?

Multiple Choice

$174,000.

$177,600.

$194,000.

$167,600.

$190,400.

Direct materials $ 299,300 Direct labor 132,800 Factory overhead costs 264,800 General and administrative expenses 86,300 Selling expenses 49,600 Work in Process inventory, January 1 119,300 Work in Process inventory, December 31 126,700 Finished goods inventory, January 1 232,900 Finished goods inventory, December 31 239,500

Explanation / Answer

Solution 26

Solution 28

Solution 29

Manufacturing costs added during year 97700

Solution 30

Add Direct materials $ 2,99,300 Add Direct labor 1,32,800 Add Factory overhead costs 2,64,800 Add Work in Process inventory, January 1 1,19,300 Less Work in Process inventory, December 31 1,26,700 Add Finished goods inventory, January 1 2,32,900 Less Finished goods inventory, December 31 2,39,500 Cost of good sold 6,82,900 Solution 27 Add Beginning raw materials inventory $ 14,400 Add Raw material purchases 52,000 Less Ending raw materials inventory 15,800 Add Direct labor 38,800 Add Total factory overhead 29,200 Total manufacturing costs for year 1,18,600

Solution 28

Add Work in Process, January 1 $ 52,000 Less Work in Process, December 31 38,000 Add Total Factory overhead 6,500 Add Direct materials used 13,500 ADd Direct labor used 27,500 Cost of goods mfg for the year 61,500

Solution 29

Add Direct materials used $ 19,300 Add Direct labor used 24,800 Add Factory overhead 53,600

Manufacturing costs added during year 97700

Solution 30

Add Beginning Work in progress 6400 Less Ending work in progress 16400 Add Cost of goods mfg 184000 Cost of mfg for period 174000

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