Blue Dynamics manufactures custom water fountains

| March 31, 2017

Question
1.

Blue Dynamics manufactures custom water fountains and employs job-order costing system. Beginning raw materials on October 1 totaled $15,600. During October, Blue Dynamic’s transactions and accounts included the following:

Raw materials acquired for cash $ 7,500

Raw materials received on account 88,900

Direct materials requisitioned and transferred to production 91,200

Cost of goods manufactured 187,900

How much is the balance of Raw Materials on October 31?

$20,800

$96,400

$5,200

$9,800

2.

Hard Walks Inc. designs and builds custom sidewalks and employs a job-order costing system. During June, the company’s transactions and accounts included the following:

Raw materials purchased $282,000

Direct materials used in production 290,000

Raw materials inventory, beginning 11,400

Corporate administrative costs 22,500

Selling expenses 16,500

Sales 389,000

Total manufacturing overhead applied 45,300

Total manufacturing overhead incurred 49,100

Finished goods, beginning 21,400

Work in process inventory, beginning 31,800

Work in process inventory, ending 28,700

Direct labor cost incurred 42,300

Finished goods, ending 23,500

How much is cost of goods manufactured for June?

$348,900

$377,600

$380,700

$384,500

3.

Tranham, Inc. uses a job-order costing system. It reported the following amounts for March:

Work in process, March 1 $38,000 Finished goods, March 1 $14,000

Work in process, March 31 35,000 Finished goods, March 31 17,500

Cost of goods manufactured 169,000 Raw materials, March 1 12,300

Direct labor used 64,000 Raw materials, March 31 12,000

Selling costs incurred 32,000 Direct materials used 63,000

How much of the above amounts will Traynham report on its balance sheet at the end of March?

$64,500

$233,500

$192,500

$169,000

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