The following costs and inventory data were taken from the accounts of Crane Company for 2022: (Assume all raw materials used were direct materials.) Inventories: Raw materials Work in process Finished goods Costs incurred: Raw materials purchases Direct labor Factory rent Factory utilities Indirect materials Indirect labor Operating expenses (a) January 1, 2022 $ 8,320 15,600 16,640 December 31, 2022 Raw Materials Inventory, Beginning $ 7,280 13,520 12,480 $ 101,920 43,680 8,320 10,400 6,240 9,360 17,680 Prepare a schedule showing the amount of direct materials used in production during the year. $ $

The following costs and inventory data were taken from the accounts of Crane Company for 2022: (Assume all raw materials used were direct materials.) Inventories: Raw materials Work in process Finished goods Costs incurred: Raw materials purchases Direct labor Factory rent Factory utilities Indirect materials Indirect labor Operating expenses (a) January 1, 2022 $ 8,320 15,600 16,640 December 31, 2022 Raw Materials Inventory, Beginning $ 7,280 13,520 12,480 $ 101,920 43,680 8,320 10,400 6,240 9,360 17,680 Prepare a schedule showing the amount of direct materials used in production during the year. $ $

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 6PB: During the year, a company purchased raw materials of $77,321 and incurred direct labor costs of...

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During the year, a company purchased raw materials of $77,321 and incurred direct labor costs of $125,900. Overhead Is applied at the rate of 75% of the direct labor cost. These are the inventory balances: Compute the cost of materials used in production, the cost of goods manufactured, and the cost of goods sold.
What are the total costs to account for if a companys beginning inventory had $231,432 in materials, $186,450 in conversion costs, and added direct material costs ($4,231,392), direct labor ($2,313,392), and manufacturing overhead ($1,156,696)?
The following information is available for Windsor Company. Raw materials inventory Work in process inventory Finished goods inventory Materials purchased Direct labor Manufacturing overhead Sales revenue (a) Jan, 1 led Dec 31 V V V > > January 1, 2022 $25,200 << < 17,100 33,150 Compute cost of goods manufactured. (Assume that all raw materials used were direct materials.) 2022 $183,000 268,400 219,600 $ 1,110,200 WINDSOR COMPANY Cost of Goods Manufactured Schedule December 31, 2022 183000 171600 $36,600 $ 21.150 25,620 268400 219600 659.600 $ 0000 $ 21 670 21 655
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