Question Details

Whatarethetotalmanufacturingcostsadded



1.	TheSumterCompanyrecentlyhadafireinitsaccountingoffice,destroyingmostofitsrecords.Onlythefollowinginformationcouldbesalvagedfor2016:


Directlabor	$400,000
Factoryoverhead	200,000
Costofgoodssold	800,000
Workinprocess,January1	80,000
Finishedgoods,January1	160,000
Workinprocess,December31	100,000
Finishedgoods,December31	120,000

Thecostofdirectmaterialsusedinproductionduring2016isa.$140,000.
b.$180,000.c.$200,000.d.$260,000.
 
Figure

InformationfromtherecordsofChromePoniesEnterprisesforJune2016isasfollows:

Sales	$41,000
Directlabor	10,000
Sellingandadministrativeexpenses	7,000
Directmaterialspurchases	6,000
Factoryoverhead	13,500

Inventories



2.	RefertoFigure2-15.Whatwasthecostofmaterialsusedinproduction?
a.$6,200
b.$6,000
c.$5,800
d.$19,500

3.	RefertoFigure2-15.ChromePoniesEnterprises'costofgoodsmanufacturedinJuneis
a.$29,300.
b.$29,700.c.$29,200.d.$29,000.
	
4.	RefertoFigure2-15.Whatarethetotalmanufacturingcostsadded?
a.$18,500
b.$19,300c.$29,000d.$29,300



 
5.	RefertoFigure2-15.Whatisthegrossmargin(profit)?
a.$11,500
b.$11,600
c.$4,500
d.$4,600


6.	RefertoFigure2-15.Whatisthecostofgoodssold?
a.$36,50
b.$28,600
c.$29,400
d.$29,500




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