a Raw Materials 248000 Raw Materials

Accounts Payable 248000 248000

b Work-In-Process 186000 248000

Raw Materials 186000 62000

c Payroll 134000 Work-In-Process

Wages Payable 134000 186000
134000
Work-In-Process 134000
Payroll 134000 320000
35000(6000 units)
d Factory Overhead 3600
Cash 3600 Factory Overhead
3600
e Factory Overhead 16200 16200
Utilities Payable 16200 15800
6400
f Factory Overhead 15800
Acc umulated Depreciation 15800 42000

g Factory Overhead 6400 Finihed Goods (3000 units)

Cash 6400

Finished Goods 285000

Work-In-Process 285000

Accounts Receiveable 648000

Sales 648000
 Cost of Goods Sold
Raw Materials Direct Materials Used
186000 Raw Materials, Beginnn 0
Add: Purchases 248000
186000 Net Purchases 248000
Add: Transportation In 0
Net Cost of Purchases 248000
Work-In-Process Raw materials avail for use 248000
285000 Less: Raw Materials, ending 62000
Direct Materials 186000
Direct Labor 134000
285000 Factory Overhead 42000
Manufacturing Cost 362000
Add: Work in Process, Beginning 0
Factory Overhead Good Placed in Process
Less: Work in Process End
Cost of Good Manufactured

How many units were sold in December?

( Sales) $648000 / (Cost per unit) $24
27000 units sold

nihed Goods (3000 units)  How many units were completed in December?
27000 units sold + 3000 ending finished goods
30000 units

What was the per-unit cost of goods manufactured in December?

$327000 / 30000
$10.9 per unit
 362000
35000
$327000
The Work in Process Inventory account of Phelan Company increased $23,000 during November 2013. Costs incurred durin

Direct Material 24000

Direct Labor 126000
Factory Overhead 42000
Manufacturing Cost 192000
Add: Work IN Process, 0
Cost of Goods Placed i 192000
Less: Work in Process 23000
Cost of Goods Manufa 169000
2013. Costs incurred during November included $24,000 of direct material, $126,000 of direct labor and $42,000 for overhead. What is
000 for overhead. What is the Cost of goods manufactured during November?
Raw Materials Beg 242500 Direct Materials Used
WIP beg 185500 Raw Materials Beg
Finished Goods beg 204600 Add: Purchases
Sales 2081700 Raw materials avail for use
Gross Profit 35% CGS Less: Raw materials end
Raw Material Purchases 1132500 Direct Materials Used
Operating Expenses 239700 Direct Labor
Income Tax 30% Prime Costs
Factory Overhead
Manufacturing Costs
Sales = Cost of Goods Sold + Gross Profit Add: Wip beg
Sales = Cost of Goods Sold + Cost of Goods Sold (35%) Goods placed in process
Sales = Cost of Goods Sold (135%) Less: WIP end
2081700 = Cost of Goods Sold (135%) Cost of goods manufacture
2081700/ 135% = Cost of Goods Sold Add: Finished goods beg
Cost of Goods Sold = 1542000 Cost of goods available for
Less: Finished goods end
Cost of Goods Sold
 Sales 2081700
242500 Less: Cost of Goods Sold 1542000
1132500 Gross Profit 539700
1375000 Less: Expenses 239700
275000 Income before tax 300000
1100000 Less: Income Tax 90000
500000 Profit/Loss 210000
1600000
400000
2000000
185500
2185500
385500
1800000
204600
2004600
462600
1542000