What is the amount of cost of goods manufactured, Cost Accounting

Assignment Help:

Wayne Company's beginning and ending inventories for the month of June were as follows: June 1 June 30
Work in progress $145,000 171,000
Finished Goods 85,000 78,000

Production data for the month follow:
Direct labor cost incurred $200,000
Direct labor hours 25,000
Actual manufacturing overhead cost incurred 132,000
Direct Materials 170,000

Wayne applies manufacturing overhead cost to jobs based on direct labor-hours, and the predetermined rate is $5.75 per direct labor-hour. The company does not close under applied or over applied manufacturing overhead to Cost of Goods Sold until the end of the year. What is the amount of cost of goods manufactured?

 


Related Discussions:- What is the amount of cost of goods manufactured

Opportunity costs are relevant costs, Opportunity Costs Are Relevant Costs ...

Opportunity Costs Are Relevant Costs Opportunity cost introduces an additional concept that is not available like part of normal cost analysis in the accounting record system.

Determine the expected range of returns , Series Arithmetic Mean ...

Series Arithmetic Mean Standard Deviation   Small-company stocks 15.9  % 32.8  %   Large-company

Issuance of stock - shares of common stock, 1. Issuance of stock Prepa...

1. Issuance of stock Prepare journal entries to record the issuance of 100,000 shares of common stock at $20 per share for each of the following independent cases: a. Jacks

Cost units - terms used in cost accounting, Cost Units - Terms Used in Cost...

Cost Units - Terms Used in Cost Accounting It is the quantitative units of the service or product in relation to those costs are ascertained. The cost unit will be determined

Over And Under Absorption of Production Overhead Costs, Over And Under Abso...

Over And Under Absorption of Production Overhead Costs This may be analyzed beneath a) Activity This is level of the business or cost center. Expenditure on several item

Find the total amount of product costs, for financial accounting purposes, ...

for financial accounting purposes, what is the total amount of product costs incurred to make 10,000 units?

Bad debts, These are losses on account of uncollectable debts. While the am...

These are losses on account of uncollectable debts. While the amount due from debtors is irrecoverable, it is termed as bad debts. Bad debts, being loss are closed through transfer

Factory overhead, Why do we separate factory overhead from materials and la...

Why do we separate factory overhead from materials and labor?

Activity-based costing and throughput accounting, The  basic  principles ...

The  basic  principles  of  standard  costing  and  variance  analysis  may  be  adapted  to  the needs of  relatively  new  methods  of  accounting  such  as  activity-based  cost

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd