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Posted: March 2nd, 2023
Presented below are incomplete manufacturing cost data. determine
Direct
Materials
Used
Direct
Labor
Used
Factory
Overhead
Total
Manufacturing
Costs
(1)
$40,000
$61,000
$50,000
$?
(2)
$?
$75,000
$140,000
$296,000
(3)
$55,000
$?
$111,000
$310,000
etermine the missing amounts.
Total
Manufacturing
Costs
Work
in Process
(January 1)
Work
in Process
(December 31)
Cost of
Goods
Manufactured
(1)
$?
$120,000
$82,000
$?
(2)
$296,000
$?
$98,000
$331,000
(3)
$310,000
$463,000
$?
$715,000
Knight Company reports the following costs and expenses in May.
Factory utilities
$15,500
Direct labor
$69,100
Depreciation on factory equipment
12,650
Sales salaries
46,400
Depreciation on delivery trucks
3,800
Property taxes on factory building
2,500
Indirect factory labor
48,900
Repairs to office equipment
1,300
Indirect materials
80,800
Factory repairs
2,000
Direct materials used
137,600
Advertising
15,000
Factory manager’s salary
8,000
Office supplies used
2,640
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