At the end of February, after the second month of operation

At the end of February, after the second month of operations of Able Baker Charlie Company, Charles shows you the data he’s collected, but he was unable to figure out some of the amounts. Review the following data and fill in the missing amounts on the chart for Able Baker Charlie Company. Note: It may be helpful to use T accounts to map the flow of the amounts through the manufacturing accounts and solve for the missing dollar values. It may also be helpful to review the steps for determining the cost of materials used, total manufacturing cost incurred, and cost of goods manufactured.

Data for February

Decrease in materials inventory 2700
materials inventory on feb 28 50% of materials inventory on jan 31
direct materials purchaced 12000
direct materials used 3 tiems the direct labor incurred
TMC incurred in period 28000
TMC incurred in period 70% of Cost of Goods Manufactured
TMC inccurred in period 8000 less than Cost of goods sold
Account Jan 31 Feb 28
Materials Inventory _________ ____________
Work in process inventory 27,000 __________
Finshed goods Inventory _________ 16,000

Cost Incurred

Direct Materials Used ________________
Direct Labor Incurred _________
Factory Overhead Incurred __________
Factory Overhead Incrred __________
Cots of goods Sold _________

Expert Answer

 

Let Cost of goods manufactured be x
TMC=70%*X
28000=70%*X
Cost of good manufactured 40000
(28000/.7)
Work iN Process , Jan 31 27000
Add: Total manufacturig cost 28000
55000
Work iN Process , Feb 28 15000
(55000-15000)
Cost of good manufactured 40000
Cost of Good sold
Finsihed Goods Inventory, Jan 31 (64000-40000) 24000
Cost of good manufactured 40000
Cost of good available for sale (48000+16000) 64000
Less: Finsished Goods Inventory, Feb 28 16000
Cost of Good sold (40000+8000) 48000
Opening Material inventory be I
ending Material inventory be .5i
i-.5i=2700
i=2700/.5 5400
Material Inventory, Jan 31 5400
Add: Purchases 12000
Material available 17400
Less: ending inevntory (5400*.5) 2700
Direct material used 14700
Direct labor 14700/3 4900
Factory overhead (40000-14700-4900) 20400
ans
Account 31-Jan 28-Feb
Materials Inventory 5400 2700
Work in process inventory 27,000 15000
Finshed goods Inventory 24000 16,000
Cost Incurred
Direct Materials Used 14700
Direct Labor Incurred 4900
Factory Overhead Incurred 20400
Factory Overhead Incrred 20400
Cots of goods Sold 48000
Buy Essay
Calculate your paper price
Pages (550 words)
Approximate price: -

Help Me Write My Essay - Reasons:

Best Online Essay Writing Service

We strive to give our customers the best online essay writing experience. We Make sure essays are submitted on time and all the instructions are followed.

Our Writers are Experienced and Professional

Our essay writing service is founded on professional writers who are on stand by to help you any time.

Free Revision Fo all Essays

Sometimes you may require our writers to add on a point to make your essay as customised as possible, we will give you unlimited times to do this. And we will do it for free.

Timely Essay(s)

We understand the frustrations that comes with late essays and our writers are extra careful to not violate this term. Our support team is always engauging our writers to help you have your essay ahead of time.

Customised Essays &100% Confidential

Our Online writing Service has zero torelance for plagiarised papers. We have plagiarism checking tool that generate plagiarism reports just to make sure you are satisfied.

24/7 Customer Support

Our agents are ready to help you around the clock. Please feel free to reach out and enquire about anything.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

HOW OUR ONLINE ESSAY WRITING SERVICE WORKS

Let us write that nagging essay.

STEP 1

Submit Your Essay/Homework Instructions

By clicking on the "PLACE ORDER" button, tell us your requires. Be precise for an accurate customised essay. You may also upload any reading materials where applicable.

STEP 2

Pick A & Writer

Our ordering form will provide you with a list of writers and their feedbacks. At step 2, its time select a writer. Our online agents are on stand by to help you just in case.

STEP 3

Editing (OUR PART)

At this stage, our editor will go through your essay and make sure your writer did meet all the instructions.

STEP 4

Receive your Paper

After Editing, your paper will be sent to you via email.

× How can I help you?