Accounting Answers

1.selected data concerning the past year's operations of the awash mfg cor. are as follows

raw material beginning inventory 71000 end inventory 81000

work in process beginning inventory 80000 end inventory 30000

F/G beginning inventory 90000 end inventory 110000

Direct material used end inventory 326000

total mfg cost charged end inventory 686000

cost of goods av.for sale end inventory 826000

selling of admin exp end inventory 31500

instruction :determine

a.R.M purchased

b. cost of goods mfg

c.costs of goods sold

the following costs were incurred by odd a mfg cost

DM =105200

DL = 221400

MOH = 98600

based on the above data

a.determine prime cost

b.conversion cost

c.mfg cost

selected data concerning the past year's operations of the awash mfg cor. are as follows

raw material beginning inventory 71000 end inventory 81000

work in process beginning inventory 80000 end inventory 30000

F/G beginning inventory 90000 end inventory 110000

Direct material used end inventory 326000

total mfg cost charged end inventory 686000

cost of goods av.for sale end inventory 826000

selling of admin exp end inventory 31500

instruction :determine

a.R.M purchased

b. cost of goods mfg

c.costs of goods sold

Ligba furniture is a furniture mfg firm that uses job order costing.the company's inventory balance on Jan 1,the beginning of its fiscal year as follows

raw material br40000

work in process 30000

finished goods 60000

a.raw materials were purchased on account for br 800000

b.raw materials were transferred in to production br 764000

c.the following cost were incurred for employee services DL br 150000

indirect labor 220000

d. factory utility cost were incurred in the factory br 86000

e.MOH was applied to production 960000

f.goods costing br 1800000 were completed and transferred to warehouse

g.goods were sold on account to customers during the year at selling price of br 3000000.the goods cost br 1748000 to manufacture according to there job cost sheets .

instructions:-prepare journal entry to record preceding transaction

the following data are taken from alem corporation for the current year

material inventory beginning of year 22000 end of year 26000

WIP inventory beginning of year 36000 end of year 30000

F/G inventory beginning of year 18000 end of year 23000

putchase of R/M end of year 75000

direct labor 82000

indirect labor 15000

factory ins (OMOH) 9000

Dep on factory (OMOH) 11000

repair maintenance factory 4000

marketing expense 63000

general and admin expense 29000

income tax expense 30000

1.compute cost of goods mfg

2.prepare income statement assuming that 27000 units are sold at a price of $14 during current year

selected data concerning the past year's operations of the awash mfg cor. are as follows

raw material beginning inventory 71000 end inventory 81000

work in process beginning inventory 80000 end inventory 30000

F/G beginning inventory 90000 end inventory 110000

Direct material used end inventory 326000

total mfg cost charged end inventory 686000

cost of goods av.for sale end inventory 826000

selling of admin exp end inventory 31500

instruction :determine

a.R.M purchased

b. cost of goods mfg

c.costs of goods sold

Ligba furniture is a furniture mfg firm that uses job order costing.the company's inventory balance on Jan 1,the beginning of its fiscal year as follows

raw material br40000

work in process 30000

finished goods 60000

a.raw materials were purchased on account for br 800000

b.raw materials were transferred in to production br 764000

c.the following cost were incurred for employee services DL br 150000

indirect labor 220000

d. factory utility cost were incurred in the factory br 86000

e.MOH was applied to production 960000

f.goods costing br 1800000 were completed and transferred to warehouse

g.goods were sold on account to customers during the year at selling price of br 3000000.the goods cost br 1748000 to manufacture according to there job cost sheets .

instructions:-prepare journal entry to record preceding transaction

the following data are taken from alem corporation for the current year

material inventory beginning of year 22000 end of year 26000

WIP inventory beginning of year 36000 end of year 30000

F/G inventory beginning of year 18000 end of year 23000

putchase of R/M end of year 75000

direct labor 82000

indirect labor 15000

factory ins (OMOH) 9000

Dep on factory (OMOH) 11000

repair maintenance factory 4000

marketing expense 63000

general and admin expense 29000

income tax expense 30000

1.compute cost of goods mfg

2.prepare income statement assuming that 27000 units are sold at a price of $14 during current year

the following costs were incurred by odd a mfg cost

DM =105200

DL = 221400

MOH = 98600

based on the above data

a.determine prime cost

b.conversion cost

c.mfg cost