Transcription
Chapter 2 Homework Solutions2–31.Direct materials used 50,800 150,000 – 21,500 179,3002.Direct materials.Direct labor.Overhead .Total manufacturing cost.Add: Beginning WIP .Less: Ending WIP .Cost of goods manufactured. 179,300200,000324,700 704,00058,500(23,500) 739,000Unit cost of goods manufactured 739,000/100,000 7.393.Direct labor 7.39 – 1.70 – 3.24 2.45Prime cost 1.70 2.45 4.15Conversion cost 2.45 3.24 5.69
2–51.Beckman CompanyStatement of Cost of Goods ManufacturedFor the Month of NovemberDirect materials:Beginning inventory.Add: Purchases .Materials available.Less: Ending inventory.Direct materials used in production .Direct labor.Manufacturing overhead .Total manufacturing costs added .Add: Beginning work in process.Less: Ending work in process.Cost of goods manufactured. 48,50070,000 118,500(15,900) 102,60022,000216,850 341,45010,000(6,050) 345,400
2.Beckman CompanyStatement of Cost of Goods SoldFor the Month of NovemberCost of goods manufactured.Add: Beginning finished goods inventory .Cost of goods available for sale.Less: Ending finished goods inventory .Cost of goods sold . 345,40010,075 355,475(8,475) 347,000
2–71.Thomson CompanyStatement of Cost of Goods ManufacturedFor the Year Ended December 31Direct materials:Beginning inventory.Add: Purchases .Freight-in on materials .Materials available.Less: Ending inventory.Direct materials used .Direct labor.Manufacturing overhead:Material handling.Supplies .Utilities .Supervision and indirect labor.Total overhead costs .Total manufacturing costs added .Add: Beginning work in process.Less: Ending work in process.Cost of goods manufactured. 47,000160,4001,000 208,400(17,000) 191,400371,500 26,75037,80046,000190,000300,550 863,450201,000(98,000) 966,450
2.Thomson CompanyStatement of Cost of Goods SoldFor the Year Ended December 31Cost of goods manufactured.Add: Beginning finished goods inventory .Cost of goods available for sale.Less: Ending finished goods inventory .Cost of goods sold . 966,45028,000 994,450(45,200) 949,250
2–81.Beginning inventory, materials . Purchases .– Ending inventory, materials .Materials used in production.2.Prime cost 9,650 18,570 28,2203.Conversion cost 18,570 15,000 33,5704.Direct materials.Direct labor.Overhead .Cost of services.5. 8509,750(950) 9,650 9,65018,57015,000 43,220CompufixIncome StatementFor the Month Ended August 31Sales revenues .Cost of services sold .Gross margin .Operating expenses:Advertising .Administrative costs .Operating Income . 60,40043,220 17,180(5,000)(3,000) 9,180
2–151.Jordan CompanyStatement of Costs of Goods ManufacturedFor the Year Ended December 31Direct materials:Beginning inventory.Add: Purchases .Materials available.Less: Ending inventory.Direct materials used .Direct labor.Manufacturing overhead:Insurance on factory .Indirect labor.Depreciation, factory building.Depreciation, factory equipment.Property taxes on factory .Utilities, factory .Total manufacturing costs added .Add: Beginning work in process.Less: Ending work in process.Cost of goods manufactured.2.Unit cost 6,363,000/150,000 42.42 380,0001,675,000 2,055,000(327,000) 1,728,0002,000,000 00 6,663,000450,000(750,000) 6,363,000
3.Jordan CompanyIncome Statement: Absorption CostingFor the Year Ended December 31Sales (141,000* 50) .Cost of goods sold:Cost of goods manufactured.Add: Beginning finished goods inventory .Goods available for sale .Less: Ending finished goods inventory .Gross margin .Less:Research and development.Salary, sales supervisor .Commissions, salespersons .Administrative expenses .Income before taxes.*2,500 150,000 – 11,500 141,000 units sold. 7,050,000 6,363,000107,500 6,470,500489,000 5,981,500 1,068,500120,00085,000370,000390,000 965,000103,500
2–161.Direct materials .Direct labor .Manufacturing overhead .Total manufacturing costs added.Add: Beginning work in process .Less: Ending work in process .Cost of goods manufactured .aConversion cost 4 Prime cost 360,000 4(Direct materials Direct labor) 360,000 4( 75,000 Direct labor)Direct labor 15,000Conversion cost Overhead Direct labor 360,000 Overhead 15,000Overhead 360,000 – 15,000Overhead 345,000bEnding WIP 2 Beginning WIP 435,000 Beg. WIP – (2 Beg. WIP) 415,000Beginning WIP 20,000; Ending WIP 2 20,000 40,000 75,00015,000a345,000a 435,00020,000b(40,000)b 415,000
2.Cost of goods manufactured.Add: Beginning finished goods .Cost of goods available for sale.Less: Ending finished goods.Cost of goods sold .*Ending finished goods 431,500 – 373,500 58,000**COGS 0.90 415,000 373,500 415,00016,500 431,500(58,000)* 373,500**
360,000 4(Direct materials Direct labor) 360,000 4( 75,000 Direct labor) Direct labor 15,000 Conversion cost Overhead Direct labor 360,000 Overhead 15,000 Overhead 360,000 - 15,000 Overhead 345,000 bEnding WIP 2 Beginning WIP
