Business, 19.02.2020 01:52, shetherealbrat

Compute the Cost of Goods Manufactured and Cost of Goods Sold for West Nautical Company for the most recent year using the amounts described next. Assume that Raw Materials Inventory contains only direct materials.

Answers: 2

Show answers

Answers

answered: kay9776

All figures are imaginary .

Explanation:

West Nautical Company

Cost of Goods Manufactured (in millions). and Sold

Dr Cr

(000) (000)

Direct Materials (opening Inventory) 30,000

Add Purchases 10,000

Less Ending Inventory 6000

Direct Materials Used 34,000

Conversion Costs

Add Direct Labor 21,000

Factory Over Head

Indirect Materials 50

Indirect Labor 14,000

Rent On Factory Building 3000

Depreciation (equip) 5000

Utilities 4000

Property Tax 2000

Insurance 1000

Total Factory Overhead/ Total Manufacturing Costs 29,050

Deduct Under applied Overhead 250

Overhead applied to work in process 28,800

Total Manufacturing Costs 83,800

Add Beginning Work In Process 4000

Total Goods in Process 87,800

Less Ending Work In Process 39,800

Cost Of Goods Manufactured 48000

Add opening Finished Goods 12,000

Cost of Goods Available for Sale 60,000

Less Closing Finished Goods 24000

Cost Of Goods Sold 36000

Add underapplied overhead 250

Cost of goods Sold ( adjusted for under applied overhead** ) 36,250

** The company closes under applied or over applied overhead into cost of goods sold . Hence, $ 250 balance in under applied overhead is added to the cost of goods sold for the month.

answered: Guest

by knowing conditionality

explanation:

answered: Guest

the answer is: guns or butter

hope i

-lavira : )

Other questions on the subject: Business

Business, 21.06.2019 15:00, dwilburn01

In order to be thoughtful about the implementation of security policies and controls, leaders must balance the need to with the impact to the business operations. doing so could mean phasing security controls in over time or be as simple as aligning security implementation with the business’s training events.

Answers: 1

continue

Business, 22.06.2019 12:10, FARHAN14082000

This exercise illustrates that poor quality can affect schedules and costs. a manufacturing process has 130 customer orders to fill. each order requires one component part that is purchased from a supplier. however, typically, 3% of the components are identified as defective, and the components can be assumed to be independent. (a) if the manufacturer stocks 130 components, what is the probability that the 130 orders can be filled without reordering components? (b) if the manufacturer stocks 132 components, what is the probability that the 130 orders can be filled without reordering components? (c) if the manufacturer stocks 135 components, what is the probability that the 130 orders can be filled without reordering components?

Answers: 3

continue

Business, 22.06.2019 14:30, dabicvietboi

Which of the following is an example of a positive externality? a. promoting generic drugs would benefit people. b. a lower inflation rate would benefit most consumers. c. compulsory flu shots for all students prevents the spread of illness in the general public. d. singapore has adopted a comprehensive savings plan for all workers known as the central provident fund.

Answers: 1

continue

Business, 22.06.2019 14:50, kianofou853

Ann chovies, owner of the perfect pasta pizza parlor, uses 20 pounds of pepperoni each day in preparing pizzas. order costs for pepperoni are $10.00 per order, and carrying costs are 4 cents per pound per day. lead time for each order is three days, and the pepperoni itself costs $3.00 per pound. if she were to order 80 pounds of pepperoni at a time, what would be the average inventory level?

Answers: 3

continue

Do you know the correct answer?

Compute the Cost of Goods Manufactured and Cost of Goods Sold for West Nautical Company for the most...