The document contains information about the raw materials, work in process, finished goods, direct labor hours, labor costs, and factory overhead for two cases. It also includes calculations for the cost of goods sold, manufacturing costs, and various production costs for different products: Sampaguita, Mangga, Banana, and Diamond. Cost data like direct materials used, direct labor, and factory overhead are provided to calculate cost of goods manufactured and work in process for each product.
The document contains information about the raw materials, work in process, finished goods, direct labor hours, labor costs, and factory overhead for two cases. It also includes calculations for the cost of goods sold, manufacturing costs, and various production costs for different products: Sampaguita, Mangga, Banana, and Diamond. Cost data like direct materials used, direct labor, and factory overhead are provided to calculate cost of goods manufactured and work in process for each product.
The document contains information about the raw materials, work in process, finished goods, direct labor hours, labor costs, and factory overhead for two cases. It also includes calculations for the cost of goods sold, manufacturing costs, and various production costs for different products: Sampaguita, Mangga, Banana, and Diamond. Cost data like direct materials used, direct labor, and factory overhead are provided to calculate cost of goods manufactured and work in process for each product.
The document contains information about the raw materials, work in process, finished goods, direct labor hours, labor costs, and factory overhead for two cases. It also includes calculations for the cost of goods sold, manufacturing costs, and various production costs for different products: Sampaguita, Mangga, Banana, and Diamond. Cost data like direct materials used, direct labor, and factory overhead are provided to calculate cost of goods manufactured and work in process for each product.
Case 1 Case 2 Raw Materials, beginning 32,000 15,000 Raw Materials Purchases 230,000 330,000 Raw Materials, ending 6,000 18,000 Work in Process, beginning 60,000 60,000 Work in Process, ending 25,000 30,000 Finished Goods, beginning 50,000 40,000 Finished Goods, ending 30,000 25,000 Direct Labor Hours 1,300 800 Labor cost per hour 110 150 Factory Overhead per Direct Labor Hour 90 Factory Overhead per Direct Labor cost 80%
Case 1 Case 2 Direct/Raw Materials, beginning 32,000.00 15,000.00 Direct/Raw Materials Purchases 230,000.00 330,000.00 Raw Materials Available for use 262,000.00 345,000.00 Raw Materials end (6,000.00) (18,000.00) Raw Materials used 256,000.00 327,000.00 Direct Labor 143,000.00 (1,300 x 110) 120,000.00 (800 x 150) Factory Overhead - applied 117,000.00 (1,300 x 90) 96,000.00 (120,00 x 0.80) Total Manufacturing Cost 516,000.00 543,000.00 Work in process, beg. 60,000.00 60,000.00 Total Manufacturing cost placed in process 576,000.00 603,000.00 Work in process, end (25,000.00) (30,000.00) Total Cost of Goods Manufactured 551,000.00 573,000.00 Finished goods, beginning 50,000.00 40,000.00 Cost of Goods Available for sale 601,000.00 613,000.00 Finished goods, end (30,000.00) (25,000.00) Cost of Sales 571,000.00 588,000.00
Prime Cost 399,000.00 447,000.00
Conversion Cost 260,000.00 216,000.00
Quiz 2
Sampaguita
Work in process, end 8,800.00
Direct Labor (2,000.00) Factory Overhead (1,600.00) (0.80 x 2,000) Raw Materials used 5,200.00
Mangga - Cost of Goods Manufactured
Direct Materials used 12,800.00
Direct Labor 12,600.00 Factory Overhead 10,500.00 (5 x 2,100) 35,900.00
Mangga - Work in Process
Direct Materials used 16,600.00
Direct Labor 10,800.00 Factory Overhead 9,000.00 (5 x 1,800) 36,400.00 Banana - Materials
Work in process, end 9,000.00
Factory Overhead (2,250.00) (27,000/30,000 = 90% of Direct Labor Direct Labor (2,500.00) (2,250/0.90) 4,250.00
Banana - Cost of Goods Placed in Process
Direct Materials used 40,000.00
Direct Labor 30,000.00 Factory Overhead 27,000.00 Total Manufacturing cost 97,000.00 Work in process, end 12,000.00 109,000.00
Diamond Direct/Raw Materials, beginning 150,000.00 Direct/Raw Materials Purchases 672,000.00 Raw Materials Available for use 822,000.00 Raw Materials end (170,000.00) Raw Materials used 652,000.00 652,000.00 (1,372,000 - 652,000)/ Direct Labor 480,000.00 x 1.5 Factory Overhead - applied 240,000.00 0.50x Total Manufacturing Cost 1,372,000.00 1.5x + 652,000 Work in process, beg. 160,000.00 Total Manufacturing cost placed in process 1,532,000.00 Work in process, end (60,000.00) Total Cost of Goods Manufactured 1,472,000.00 Finished goods, beginning 180,000.00 Cost of Goods Available for sale 1,652,000.00 Finished goods, end (220,000.00) Cost of Sales 1,432,000.00
