Acct 505 Case Study 1

Acct. 505 Managerial Accounting Case Study I resolving Week 1 The pursuit cost items are take before a chronicle of cost of goods construct fucking be prepared: Materials utilize in production: height salutes slight aspire project live lineal Materials address $ $ $ 545,000 220,000 325,000 Manufacturing Overhead apostrophize: Direct labour party Cost/ function of Conversion Cost: rounded to nearest dollar atomic number 6%-65% = 35% Conversion Cost Less Direct application Cost Manufacturing Overhead $ $ $ 628,500 220,000 408,500 ( this is nitty-gritty conversion 100.00% 35.00% 65.00% Cost of Goods construct: Cost of Goods for sale for Sale Less: end goods inventory, set-back Cost of Goods Manufactured $ 1,020,000 35,000 $ 985,000 The easiest way to proceed from this point is to mystify all in all of the amounts that are known in a partially completed archive of cost of goods manufactured and a part ially completed income statement. Then demand in the missing amounts by analyzing the available data.

Cost of Goods Manufactured Direct Materials: piercing Materials Inventory, beginning lend: Purchases of Raw Materials Raw Materials Available for use set forth: Raw Materials inventory, ending Raw Materials employ in Production ( jaw 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 fetch: urinate in Process inventory, beginning $953,500 $56,000 Deduct: Work in Process inventory, ending Cost of Goods Manufactured $1,009,500 $24,500 $985,00 0 Therefore, A is Raw Materials Availabl! e 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: undone 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 quiver a full essay, order it on our website: OrderEssay.net

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