ADMS 2510 Lecture : Practice questions.xlsx

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amethystarmadillo670

31 Mar 2013

School

York University

Department

Administrative Studies

Course

ADMS 2510

Professor

Alison Beavis

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ADMS 2510 Full Course Notes

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Cost of transferred units cost of ending wip. Work in process, jan. 1 (materials 100% complete; conversion. Customer service single order 3200 skate board produced 27 batches. Add cost of goods manufactured (10,000 units r ? per unit) Less ending inventory (2,000 units r ? per unit) Add desired ending inv total needs less ending inv total production. Fixed selling and admin executive salaries insurance payment property tax dpreciation total costs. 20000 grams materials purchased at 2. 40 and all used to make 2500 bottles. Traceable fixed expenses per year common fixed expenses sales. Cm traceable fixed costs incremental segment margin common fixed cost operating income. Traceable fixed expenses incremental semgent margin fixed expenses. Cm ratio incremental cm less add expense increas in income. 1) yes it should be kept because by dropping it the operating loss will be 3000. Z sales after further processing sales at the split off incremental revenue cost of further processing profit (loss) from porcessing.

Related Questions

Schedule of Cost of Goods Manufactured

Kelowna Plumbing Supplies shows the following data related toits December 31, 2017 fiscal year:

Raw materials inventory, January 1,2017	$5,000
Raw materials inventory, December 31,2017	8,000
Work in process inventory, January 1,2017	23,000
Work in process inventory, December 31,2017	21,000
Finished goods inventory, January 1,2017	16,000
Finished goods inventory, December 31,2017	10,000
Advertising	56,000
Factory supervisor's salary	42,000
Company president's salary	85,000
Property taxes - factory	25,000
Depreciation - factory	35,000
Factory maintenance	7,000
Sales commissions	32,000
Depreciation - office	2,000
Utilities expense - factory	23,000
Utilities expense - office	11000
Purchases of raw materials	148,000
Direct labour	160,000

Required:

Based on the information above, prepare a schedule of cost ofgoods manufactured.

magentacod793

The following balances are from the accounts of CrabtreeMachining Company:

	January 1 (Beginning)		December 31 (Ending)
Direct materials inventory	$	98,500	$	110,700
Work-in-process inventory		107,200		105,100
Finished goods inventory		43,100		46,400

Direct materials purchased during the year amount to $513,400,and the cost of goods sold for the year was $1,870,000.

Required:

Prepare a cost of goods sold statement.

CRABTREE MACHINING COMPANY
Cost of Goods Sold Statement
For the Year Ended December 31
Beginning work-in-process inventory			$107,200
Manufacturing costs:
Direct materials:
Beginning inventory	$98,500
Purchases	513,400
Materials available	$611,900
Less: Ending inventory	110,700
Direct materials used		$501,200
Other manufacturing costs
Total manufacturing costs			501,200
Total costs ofwork-in-process			$608,400
Less: Ending work-in-process			105,100
Cost of goods manufactured			$503,300
Beginning finished goods inventory			43,100
Finished goods available forsale			$546,400
Less: Ending finished goods inventory			46,400
Cost of goods sold			$500,000

************I HAVE FIGURED OUT EVERY NUMBER BESIDES THE OTHERMANUFACTURING COST!!!! HOW DO I FIGURE OUT THATNUMBER???????????????????? ONCE I FIGURE OUT THAT NUMBER IT WILLCHANGE THE OTHER NUMBERS, SO THE PROBLEM WILL BE CORRECT.

rubyoyster381

Data Beginning work in process inventory: Units in process 200 Completion with respect to materials 100% Completion with respect to conversion 40% Costs in the beginning work in process inventory: Materials cost $2,000 Conversion cost $800 Units started into production during the period 1,800 Costs added to production during the period: Materials cost $18,400 Conversion cost $38,765 Ending work in process inventory: Units in process 100 Completion with respect to materials 100% Completion with respect to conversion 30% Enter a formula into each of the cells marked with a ? below Weighted Average method: Equivalent Units of Production Materials Conversion Units transferred to the next department ? ? Ending work in process inventory: Materials ? Conversion ? Equivalent units of production ? ? Costs per Equivalent Unit Materials Conversion Cost of beginning work in process inventory ? ? Costs added during the period ? ? Total cost ? ? Equivalent units of production ? ? Cost per equivalent unit ? ? Costs of Ending Work in Process Inventory and the Units Transferred Out Materials Conversion Total Ending work in process inventory: Equivalent units of production ? ? Cost per equivalent unit ? ? Cost of ending work in process inventory ? ? ? Units completed and transferred out: Units transferred to the next department ? ? Cost per equivalent unit ? ? Cost of units transferred out ? ? ? Cost Reconciliation Costs to be accounted for: Cost of beginning work in process inventory ? Costs added to production during the period ? Total cost to be accounted for ? Costs accounted for as follows: Cost of ending work in process inventory ? Cost of units transferred out ? Total cost accounted for ?

coraldonkey72

ADMS 2510 Lecture : Practice questions.xlsx

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