Cost data for Disksan Manufacturing Company for the month ended January 31 are as follows:

Inventories January 1 January 31
Materials $180,000 $145,500
Work in process 334,600 290,700
Finished goods 675,000 715,000

Direct labor $2,260,000
Materials purchased during January 1,375,000
Factory overhead incurred during January:

Indirect labor 115,000
Machinery depreciation 90,000
Heat, light, and power 55,000
Supplies 18,500
Property taxes 10,000
Miscellaneous costs 33,100

Required:
Prepare a cost of goods manufactured statement for January

Answer and Explanation:

The preparation of the cost of goods manufactured is presented below:

Sandusky Manufacturing Company  

Statement of Cost of Goods Manufactured  

For the month ended January 31  

Opening Work In Progress Inventory                         $334,600

Direct Material:    

Opening Material Inventory,   $180,000  

Add: Purchases during January   $1,375,000  

Cost of Materials available for use  $1,555,000  

Less: Ending Inventory                   -$145,500  

Cost of Direct Materials used in Production $1,409,500  

Direct Labor                   $2,260,000  

Factory Overhead:    

Indirect Labor $115,000  

Machinery depreciation  $90,000  

Heat, Light and Power $55,000  

Supplies $18,500  

Property Taxes $10,000  

Miscelleneous Costs 33,100  

Total Factory Overhead                          $321,600  

Total Manufacturing Cost                                                $3,991,100

Total Manufacturing Costs                                               $4,325,700

Less: Closing wip inventory                                            $290,700

Cost of Goods Manufatured                                     $4,035,000

Note

Total manufacturing costs = Starting Work in Progress + Total Manufact. Cost Incurred during Jan.

Total manufacturing costs = $334,600 + $3,991,100 = $4,325,700

Answer:

Cost of goods sold (cogs): 3,995,000

Explanation:

(Everything else above is correct, just cogs is wrong according to my hw)

Math goes as follows: 4,035,000+675,000+4,710,000-715,000=3,995,000.

675,000 is finished goods on january 1st, and 715,000 is finished goods on january 31st.

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A company performs $10,000 of services and issues an invoice to the customer using the accrual method what’s the correct entry to record the transaction?

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Based on these descriptions, decide if the statement is reflective Of a Strength, Weakness, Opportunity, or Threat. Drop the statement in the correct position.

a. Staffing
b. Health
c. Strong Brand Name
d. Demand
e. Inventory Management
f. Competitors
g. Excellent Location
h. Late Night Eating

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Cost and book value $581400 $356400
Fair value based upon appraisal 810000 650700

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a. $159300.
b. $228600.
c. $0.
d. $44958.

A manufacturer has identified the options for acquiring a machined part. It can make the part on a standard lathe for $250 per unit (including materials). It can make the part on a numerically controlled lathe for $150 per unit (including materials). It can make the part on a machining center for $50 per unit (also including materials). The manufacturer can acquire a standard lathe for $10,000. It could acquire a numerically controlled lathe for $100,000. A machining center would cost $350,000. It has also found that it can purchase the part for $350 per unit. If the demand is 750 units, which method should be used

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Required:
1. Calculate the percent change in operating income expected.
_______%
2. Calculate the operating income expected next year using the percent change in operating income calculated in Requirement 1.

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Required:
Record the above transactions in journal entries.

Presented below is information from Blossom Computers Incorporated. July 1 Sold $21,200 of computers to Robertson Company with terms 3/15, n/60. Blossom uses the gross method to record cash discounts. Blossom estimates allowances of $1,378 will be honored on these sales. 10 Blossom received payment from Robertson for the full amount owed from the July transactions. 17 Sold $212,000 in computers and peripherals to The Clark Store with terms of 2/10, n/30. 30 The Clark Store paid Blossom for its purchase of July 17. Prepare the necessary journal entries for Blossom Computers.

One benefit of obtaining your bachelor degree over your associate degree is

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Required:
Analyze each error and indicate its effect on 2017 and 2018 net income, assets, and liabilities if not corrected. Do not assume any other errors. Use these codes to indicate the effect of each dollar amount: O = overstated, U = understated, and NE = no effect. The first transaction is used as an example.

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6. Sale of services and cash collected in 2013. Recorded as a &bit to Cash and as a credit
to Accounts Receivable, $300.
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Rye Jeans
Country (Bushels per hour of labor) (Pairs per hour of labor)
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Give me some tips!
How do we get all A+ on a test?​

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O True
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Manufacturing overhead costs incurred:
Indirect materials $ 15,400
Indirect labor 134,000
Property taxes, factory 8,400
Utilities, factory 74,000
Depreciation, factory 191,200
Insurance, factory 10,400
Total actual manufacturing overhead costs incurred $ 433,400
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Purchases of raw materials (both direct and indirect) $ 404,000
Direct labor cost $ 64,000
Inventories:
Raw materials, beginning $ 20,400
Raw materials, ending $ 30,400
Work in process, beginning $ 40,400
Work in process, ending $ 70,400
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