Business, 20.03.2020 03:56 jdbell627

The following information is available for the first month of operations of Bahadir Company, a manufacturer of mechanical pencils:

Sales $449,330
Gross profit 261,960
Cost of goods manufactured 224,670
Indirect labor 97,500
Factory depreciation 14,830
Materials purchased 138,390
Total manufacturing costs for the period 258,360
Materials inventory, ending 18,420

Using the information given, determine the following missing amounts:

a. Cost of goods sold
b. Finished goods inventory at the end of the month
c. Direct materials cost
d. Direct labor cost
e. Work in process inventory at the end of the month

Answers: 3

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Answers

Answer from: Snowball080717

COGS = 187,370‬

ending finished goods = 37,300

Direct Materials used = 119,970

Labor = 26,070

ending WIP = 33,690

Explanation:

Sales - COGS = gross Profit

449,330 - COGS = 261,960

449,330 - 261,960 = COGS = 187,370‬

Cost of goods manufactured 224,670

less Cost of Goods Sold of (187,370)

ending finished goods 37,300

Materials purchased 138,390

Materials inventory, ending (18,420)

Direct Materials used 119,970

Materials + Labor + Overhead = COGM

119,970 + Labor + 97,500 + 14,820 = 258,360

Labor = 258,360 - 232,290

Labor = 26,070

Then Cost added less Cost of Goods Manufacured = ending WIP

258,360 - 224,670 = 33,690

Answer from: kamnicole13

COGS = 187,370‬

ending finished goods = 37,300

Direct Materials used = 119,970

Labor = 26,070

ending WIP = 33,690

Explanation:

Gross Profit = Sales - COGS

449,330 - 261,960 = COGS = 187,370‬

Cost of goods manufactured 224,670

less Cost of Goods Sold of (187,370)

ending finished goods 37,300

Materials purchased 138,390

Materials inventory, ending (18,420)

Direct Materials used 119,970

Materials + Labor + Overhead = COGM

119,970 + Labor + 97,500 + 14,820 = 258,360

Labor = 258,360 - 232,290

Labor = 26,070

Then Cost added less Cost of Goods Manufacured = ending WIP

258,360 - 224,670 = 33,690

Answer from: Quest

What do you mean by that?

Answer from: Quest

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.

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