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Week_11_ACCT Problems - E1-7,P4-6, E6-7

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Question;a.;Valley View Manufacturing Co.Statement of Cost of Goods ManufacturedFor the Month Ended January 31, 20--;Materials;Inventory, January 1;$;Purchases;Total cost of available materials;$;Less inventory, January 31;Cost of materials ued;$;Less indirect materials used;Cost of direct materials used in production;$;Direct labor;Factory overhead;Indirect materials;$;Indirect labor;Other;Total factory overhead;Total manufacturing cost;$;Add work in process inventory, January 1;$;Less work in process inventory, January 31;Cost of goods manufactured;$;b.;Cost of goods sold;Finished goods inventory, January 1;$;Add costs of goods manufactured;Goods available for sale;$;Less finished goods inventory, January 31;Cost of goods sold;$;Problem 4-6;Schedule for Distribution of Service Department Costs?Direct Method;Bldg.;Factory;Description;Maint.;Office;Mixing;Blending;Finishing;TotalTotal from factory overhead analysis sheets;Allocate building maintenance;based on floor space;Mixing;Blending;Finishing;Allocate factory office;based on number of employees;Mixing;Blending;Finishing;Total - direct and apportioned expenses;Exercise 6-7;Cost of production for month;Materials;Labor;Factory overhead;Total cost to be accounted for;Unit output for month;Finished and transferred;Equivalent units of work in process;Total;Unit cost for month;Materials;Labor;Factory overhead;Total;Inventory costs;Cost of goods finished and transferred;Cost of work in process, end of month;Materials;Labor;Factory overhead;Total production costs accounted for

 

Paper#43796 | Written in 18-Jul-2015

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