Calculate the cost of goods sold for march

Assignment Help Financial Accounting
Reference no: EM13515577

Cost of goods manufactured and cost of goods sold The following table summarizes the beginning and ending inventories of Decatur Manufacturing, Inc., for the month of March:


Feb. 28

Mar. 31

Raw materials

$ 53,600

$ 44,160

Work in process

114,080

103,680

Finished goods

75,520

67,040

Raw materials purchased during the month of March totaled $198,240. Direct labor costs incurred totaled $499,520 for the month. Actual and applied manufacturing overhead costs for March totaled $301,440 and $307,680, respectively. Over/ underapplied overhead is written off to cost of goods sold at the end of the year in December.

Required:

a. Calculate the cost of goods manufactured for March.

b. Calculate the cost of goods sold for March.

Reference no: EM13515577

Questions Cloud

Explain the things that someone should be aware : Put overwriting is the practice of writing put options against stock you own rather than the more common practice of writing covered calls.  Explain the things that someone should be aware of before doing this, including the best and worst things tha..
What is the average kinetic energy of a gas molecule : A sealed tube (0.5 L) in volume confines two moles of an ideal gas at a pressure of 2 atm. What is the average kinetic energy of a gas molecule
Calculate the cost of goods sold during may : Calculate the cost of goods manufactured during May and the average cost per unit of product manufactured - calculate the cost of goods sold during May.
Compute the millimoles of sodium hypochlorite : Calculate the millimoles of sodium hypochlorite used in the reaction: 2.3mL of a 5.25% solution (Clorox). Compare this value with the quantity of cyclohexanol to be used in the reaction. Would you describe the oxidant as being present in slight ex..
Calculate the cost of goods sold for march : Calculate the cost of goods manufactured for March and calculate the cost of goods sold for March.
Find the force constant and the mechanical energy : A mass of 0.2 kg attached to a spring oscillates on a frictionless horizontal surface. Its motion is described by x = 0.05 m cos(50 rad/s t + 1.57 rad). find the force constant and the mechanical energy
Determine the work during the compression process : One Kg of air is compressed from V=2.0m^3 and P=400kPa to .... V=.547m^3 to P=1200kPa. find the work during the compression process
Calculate the budgeted unit sales for september : Ending inventory of finished goods for each month is budgeted to be 30% of the next month's budgeted sales in units. Calculate the budgeted unit sales for September.
Define containers with identical number of moles of gas : An unknown gas is held in 2 separate containers with identical number of moles of gas. The volume of container 2 is 0.347 L and has a pressure of 0.315 atm. The volume of container 1 is 1.145 L. What is the pressure of the unknown gas in container..

Reviews

Write a Review

Financial Accounting Questions & Answers

  Prepare a 20x8 consolidated income statement

Assume that Go-med is a joint venture owned by Insure and four other venturers, that the acquisition differentials are valid, and that it has not yet adopted IFRS 11: Joint Arrangements.  Prepare a 20X8 consolidated income statement for Insure using ..

  Explain whether adopting ifrs in us

Explain whether adopting IFRS in the U.S. would materially change how Company A would account for these contracts; and, if so, how the recognition changes would affect revenue recognition timing.

  Zach taylor is settling a 27000 loan due today by making 6

zach taylor is settling a 27000 loan due today by making 6 equal annual payments of 6018.83. what payments must zach

  What are main characteristics of intangible assets

"what are the main characteristics of intangible assets? Intangibles have either a limited useful life or an indefinite useful life. How should these two different types of intangibles be amortized?"

  Cash flow estimation when making capital budgeting decision

Respond to the following questions thoroughly, in 150-300 words for each question. 1.What are the pros and cons of the decision rules for the NPV, the IRR, the MIRR

  Improvement of the existing communication system

Management contends that the device merely represents an improvement of the existing communication system of the satellite and so should be capitalized

  Prepare the companys cash budget for the upcoming fiscal

prepare the companys cash budget for the upcoming fiscal year.garden depot is a retailer that is preparing its budget

  Determine whether you agree with lois conclusion

For each identified obligation, determine whether you agree with LOI's conclusion and discuss the basis for your determination.

  Prepare journal entry for issuance of bonds

Evaluate the amount of accrued interest that was included in the proceeds received from the bond sale. Show calculation and prepare journal entry for issuance of the bonds.

  What would the schedule of expected cash collections

there are no bad debts/uncollectibles. What would the schedule of expected cash collections be in this scenario?

  Determine the difference in the amount of income

Determine the difference in the amount of income that the company would have reported if it had used the FIFO method instead of the LIFO method. Would income have been greater or less?

  What is the operating income for both firms

Determine the earnings after taxes and compute the percentage increase in these earnings from the answers you derived in part b. d. Why are the percentage changes different?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd