2–3
Chapter 2 Homework Solutions
2?3
1. Direct materials used = $50,800 + $150,000 ? $21,500 = $179,300
2. Direct materials......................................................... Direct labor................................................................ Overhead ................................................................... Total manufacturing cost......................................... Add: Beginning WIP ................................................. Less: Ending WIP ..................................................... Cost of goods manufactured...................................
$ 179,300 200,000 324,700
$ 704,000 58,500 (23,500)
$ 739,000
Unit cost of goods manufactured = $739,000/100,000 = $7.39
3. Direct labor = $7.39 ? $1.70 ? $3.24 = $2.45 Prime cost = $1.70 + $2.45 = $4.15 Conversion cost = $2.45 + $3.24 = $5.69
2?5
1.
Beckman Company
Statement of Cost of Goods Manufactured
For the Month of November
Direct materials: Beginning inventory.................................. Add: Purchases ......................................... Materials available..................................... Less: Ending inventory............................. Direct materials used in production ........
Direct labor........................................................ Manufacturing overhead .................................. Total manufacturing costs added ................... Add: Beginning work in process..................... Less: Ending work in process......................... Cost of goods manufactured...........................
$ 48,500 70,000
$ 118,500 (15,900)
$ 102,600 22,000
216,850 $ 341,450
10,000 (6,050) $ 345,400
2.
Beckman Company
Statement of Cost of Goods Sold
For the Month of November
Cost of goods manufactured................................................... Add: Beginning finished goods inventory ............................. Cost of goods available for sale.............................................. Less: Ending finished goods inventory ................................. Cost of goods sold ...................................................................
$ 345,400 10,075
$ 355,475 (8,475)
$ 347,000
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