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  • Dennis Manufacturing Inc S Cost of Goods Sold For The Month

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    Amit Pandey
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    Dennis Manufacturing Inc.'s cost of goods sold for July was $345,000. It is given that the ending work in process inventory was 90% of the beginning work in process inventory of $40,000. Factory overhead was 50% of the direct labor cost. Information is provided about beginning and ending inventories for direct materials, work in process, and finished goods as well as purchases of direct materials and sales for the month. Calculations of cost of goods manufactured, prime cost, and conversion cost charged to work in process are required.

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    Dennis Manufacturing Inc.'s cost of goods sold for July was $345,000. It is given that the ending work in process inventory was 90% of the beginning work in process inventory of $40,000. Factory overhead was 50% of the direct labor cost. Information is provided about beginning and ending inventories for direct materials, work in process, and finished goods as well as purchases of direct materials and sales for the month. Calculations of cost of goods manufactured, prime cost, and conversion cost charged to work in process are required.

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    31 views1 page

    Dennis Manufacturing Inc S Cost of Goods Sold For The Month

    Uploaded by

    Amit Pandey
    Dennis Manufacturing Inc.'s cost of goods sold for July was $345,000. It is given that the ending work in process inventory was 90% of the beginning work in process inventory of $40,000. Factory overhead was 50% of the direct labor cost. Information is provided about beginning and ending inventories for direct materials, work in process, and finished goods as well as purchases of direct materials and sales for the month. Calculations of cost of goods manufactured, prime cost, and conversion cost charged to work in process are required.

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    © All Rights Reserved
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    Flag for inappropriate content
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    Solved: Dennis Manufacturing Inc s cost of goods sold for

    the month
    Dennis Manufacturing Inc s cost of goods sold for the month

    Dennis Manufacturing Inc.'s cost of goods sold for the month ended July 31 was $345,000. The
    ending work in process inventory was 90% of the beginning work in process inventory. Factory
    overhead was 50% of the direct labor cost. Other information pertaining to Dennis' inventories
    and production for July is as follows:
    Beginning inventories, July 1:
    Direct materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 20,000
    Work in process . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40,000
    Finished goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 102,000
    Purchases of direct materials during July . . . . . . . . . . . . . . . . . . . . . 110,000
    Ending inventories, July 31:
    Direct materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26,000
    Work in process . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ?
    Finished goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105,000

    Required:
    1. Prepare a statement of cost of goods manufactured for the month of July
    2. Prepare a schedule to compute the prime cost incurred during July.
    3. Prepare a schedule to compute the conversion cost charged to Work in Process during July.

    Dennis Manufacturing Inc s cost of goods sold for the month

    ANSWER
    https://solvedquest.com/dennis-manufacturing-inc-s-cost-of-goods-sold-for-the-month/

    Reach out to freelance2040@yahoo.com for enquiry.


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