ACCT 2101 Lecture 6: Lecture #6
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The following data (in thousands of dollars) have been takenfrom the accounting records of Dallas Corporation forthe just-completed year.
Purchases of raw materials | $170 | |
Direct labor | $210 | |
raw materials Used | $220 | |
Administrative expenses | $180 | |
Overhead | $160 | |
Work-in-process inventory, beginning | $30 | |
Work-in-process inventory, ending | $20 | |
Finished goods inventory, beginning | $100 | |
Finished goods inventory, ending | $70 |
Required: Prepare a Schedule of Cost ofGoodsManufactured statement for the Dallas Corp
Purchases of raw materials | $170 | |
Direct labor | $210 | |
raw materials Used | $220 | |
Administrative expenses | $180 | |
Overhead | $160 | |
160 | ||
Work-in-process inventory, beginning | $30 | |
Work-in-process inventory, ending | $20 |
The information below relates to Derby Manufacturing Company'soperations for a recent month. (Assume that all raw materials aredirect materials.):
Purchases of raw materials........................ | $91,000 | |
Direct labor cost........................................ | $122,000 | |
Selling costs (total).................................... | $42,000 | |
Administrative costs (total)....................... | $56,000 | |
Manufacturing overhead costs (total)....... | $340,000 | |
Raw materials inventory, beginning.......... | $22,000 | |
Work in process inventory, beginning....... | $27,000 | |
Finished goods inventory, beginning........ | $42,000 | |
Raw materials inventory, ending............... | $7,000 | |
Work in process inventory, ending............ | $35,000 | |
Finished goods inventory, ending............. | $15,000 |
What was Derby's cost of goods manufactured for the month?
a. | $545,000 | |
b. | $560,000 | |
c. | $568,000 | |
d. | $587,000 |