Acct 505 Case Study 1

Acct. 505 Managerial Accounting Case chew over I Solution Week 1 The pastime follow items be needful before a account statement of cost of goods manufactured tail assembly be prepared: Materials engage in production: summit salutes slight aspire escort court Direct Materials follow $ $ $ 545,000 220,000 325,000 Manufacturing knock equal: Direct Labor make up/ Percentage of Conversion Cost: rounded to nearest dollar degree Celsius%-65% = 35% Conversion Cost slight Direct Labor Cost Manufacturing Overhead $ $ $ 628,500 220,000 408,500 ( this is centerfield conversion 100.00% 35.00% 65.00% Cost of Goods Manufactured: Cost of Goods functional for Sale little: finale goods inventory, beginning Cost of Goods Manufactured $ 1,020,000 35,000 $ 985,000 The easiest way to survive from this point is to place any in all of the amounts that are known in a partly completed archive of cost of goods manufactured and a partially completed income statement. Then demand in the missing amounts by analyzing the obtainable data.

Cost of Goods Manufactured Direct Materials: fond Materials Inventory, beginning lend: Purchases of piercing Materials Raw Materials Available for use set forrader: Raw Materials inventory, ending Raw Materials use in Production ( talk above) Direct Labor Cost Manufacturing Overhead Cost (See Above) $ $ $41,000 $325,000 $366,000 41,000 $325,000 $220,000 408,500 Total Manufacturing Costs provide: Work in growth inventory, beginning $953,500 $56,000 Deduct: Work in change inventory, ending Cost of Goods Manufactured $1,009,500 $24,500 $985,000 Therefore, A is Raw Materials Available for Use Less: Raw Materials Used in Production Raw Materials Inventory, Ending $ $ 366,000 (325,000) 41,000 Therefore B is Work in Process Ending $24,500 Sales $1,350,000 Cost of Goods Sold: ruined Goods Inventory, Beginning $35,000 Cost of Goods Manufactured $ 985,000 Cost of Goods Available for Sale $ 1,020,000 Deduct:...If you want to shaking a full essay, social club it on our website: Orderessay

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