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##### 1. Using the following information, compute the co...

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1. Using the following information, compute the cost of direct materials used. Raw materials inventory, January 1 \$ 30,000 Raw materials inventory, December 31 60,000 Work in process, January 1 27,000 Work in process, December 31 18,000 Finished goods, January 1 60,000 Finished goods, December 31 48,000 Raw materials purchases 1,300,000 Direct labor 690,000 Factory utilities 225,000 Indirect labor 75,000 Factory depreciation 500,000 Operating expenses 630,000 A) \$1,390,000. B) \$1,330,000. C) \$1,300,000. D) \$1,270,000. 2. Assuming the cost of direct materials used is \$1,300,000, compute the total manufacturing costs using the information below. Raw materials inventory, January 1 \$ 30,000 Raw materials inventory, December 31 60,000 Work in process, January 1 27,000 Work in process, December 31 18,000 Finished goods, January 1 60,000 Finished goods, December 31 48,000 Raw materials purchases 1,300,000 Direct labor 690,000 Factory utilities 225,000 Indirect labor 75,000 Factory depreciation 500,000 Operating expenses 630,000 A) \$2,790,000. B) \$2,781,000. C) \$2,490,000. D) \$3,420,000. Assuming that the total manufacturing costs are \$2,700,000, compute the cost of goods manufactured using the information below. Raw materials inventory, January 1 \$ 30,000 Raw materials inventory, December 31 60,000 Work in process, January 1 27,000 Work in process, December 31 18,000 Finished goods, January 1 60,000 Finished goods, December 31 48,000 Raw materials purchases 1,300,000 Direct labor 690,000 Factory utilities 225,000 Indirect labor 75,000 Factory depreciation 500,000 Operating expenses 630,000 A) \$2,688,000. B) \$2,691,000. C) \$2,709,000. D) \$2,712,000. 3.Assuming that the cost of goods manufactured is \$2,760,000 compute the cost of goods sold using the following information. Raw materials inventory, January 1 \$ 30,000 Raw materials inventory, December 31 60,000 Work in process, January 1 27,000 Work in process, December 31 18,000 Finished goods, January 1 60,000 Finished goods, December 31 48,000 Raw materials purchases 1,300,000 Direct labor 690,000 Factory utilities 225,000 Indirect labor 75,000 Factory depreciation 500,000 Operating expenses 630,000 A) \$2,769,000. B) \$2,712,000. C) \$2,748,000. D) \$2,772,000.

Paper#9724 | Written in 18-Jul-2015

Price : \$25