Ch. 15 PRACTICE Quiz

A company used $35,000 of direct materials, incurred $73,000 in direct labor cost, and had $114,000 in factory overhead costs during the period. If beginning and ending work in process inventories were $28,000 and $32,000, respectively, the cost of goods manufactured was

$218,000

Compute conversion costs given the following data: Direct Materials, $347,500; Direct Labor, $196,300; Factory Overhead, $187,900; and Selling Expenses, $45,290.

$384,200

Given the following data: ​ Beginning raw materials inventory $30,000 Materials purchased 65,000 Ending raw materials inventory 40,000 ​ What is the amount of raw materials used?

$55,000

Ending Balance of Finished Goods Inventory

Balance Sheet

Ending Balance of Materials Inventory

Balance Sheet

Cost of Goods Sold

Income Statement

The following information is taken from the financial records of Gunner Manufacturing: ​ Cost of materials used $45,000 Direct labor costs 48,000 Factory overhead 39,000 Work in process, beg. 18,000 Work in process, end. 28,000 ​ What is cost of goods manufactured?

$122,000

Jensen Company reports the following: ​ Direct materials used$345,000Direct labor incurred 250,000Factory overhead incurred 400,000Operating expenses 175,000 ​ ​ Jensen Company's period costs are

$175,000

Ending Balance of Work in Process Inventory

Balance Sheet

Compute conversion costs given the following data: Direct Materials, $347,500; Direct Labor, $196,300; Factory Overhead, $45,290; and Selling Expenses, $187,900.

$241,590

The Darwin Company reports the following information: Sales$76,500Direct materials used 7,300Depreciation on factory equipment 4,700Indirect labor 5,900Direct labor 10,500Factory rent 4,200Factory utilities 1,200Sales salaries expense 15,600Office salaries expense 8,900Indirect materials 1,200 ​ Product costs are

$35,000

Given the following data: ​ Beginning raw materials inventory $40,000 Materials purchased 65,000 Ending raw materials inventory 30,000 ​What is the amount of raw materials used?

$75,000

Jensen Company reports the following: ​ Direct materials used$345,000Direct labor incurred 250,000Factory overhead incurred 400,000Operating expenses 175,000 ​ ​ Jensen Company's product costs are

$995,000

Wages of assemblers

Direct Labor

Lawn mower engine

Direct Materials

Wheels

Direct Materials

Depreciation of factory equipment

Factory Overhead

Depreciation of worker's tools

Factory Overhead

Grease for wheel axles

Factory Overhead

Oil lubricant for factory machinery

Factory Overhead

Sales

Income Statement

Which of the following is an example of direct material cost for a cell phone manufacturer?

cost of phone components

Which of the following is an example of direct labor cost for a cell phone manufacturer?

cost of wages of assembly worker