Determine the cost of direct materials used in production

Assignment Help Financial Accounting

Reference no: EM131211272

Cost of Direct Materials Used in Production for a Manufacturing Company

Rextacular Manufacturing Company reported the following materials data for the month ending June 30, 2016:

Materials purchased $828,000

Materials inventory, June 1 279,000

Materials inventory, June 30 252,000

Determine the cost of direct materials used in production by Rextacular during the month ended June 30, 2016.

Reference no: EM131211272

Questions Cloud

Depreciated using straight-line depreciation for their books : Accounting for Income Taxes C.U. Incorporated asked you to help them with their financial statements. They bought a machine that is depreciated using straight-line depreciation for their books and uses MACRS depreciation for tax purposes. It was purc..

Defined benefit pension plan specifies annual retirement : Sachs Brands' defined benefit pension plan specifies annual retirement benefits equal to: 1.4% × service years × final year's salary, payable at the end of each year. Estimate by the accumulated benefits approach the amount of Davenport's annual reti..

How should lease be classified by crown auto and by piedmont : Crown Auto leased 40 vans to Piedmont Transport under a four-year noncancelable lease on January, 1, 2016. Information concerning the lease and the vans follows: What are the potential advantages to Piedmont of leasing the vans rather than purchasing..

Financial statements are presented fairly : Most auditors believe that financial statements are "presented fairly" when the statements are in accordance with GAAP, and that it is also necessary to: Determine that they are not in violation of FASB statements. Examine the substance of transactio..

Determine the cost of direct materials used in production : Cost of Direct Materials Used in Production for a Manufacturing Company. Determine the cost of direct materials used in production by Rextacular during the month ended June 30, 2016.

Calculate company direct labor rate and efficiency variances : At the beginning of last year, creative productions set direct labor standards of 2 hours at $25 per hour for each product produced. during the year, 1,700 direct labor hours were actually worked at an average cost of $26 per hour. using this informa..

Prepare a flexible budget : Prepare a flexible budget for 20,000, 22,000, and 24,000 units of output, using the information that follows. Variable costs: Direct materials $1.00 per unit Direct labor $4.00 per unit Variable overhead $8.00 per unit Total budgeted fixed overhead $..

Do you agree with ethical perspectives of your classmates : At the beginning of 2011, the Healthy Life Food Company purchased equipment for $42 million to be used in the manufacture of a new line of gourmet frozen foods. The equipment was estimated to have a 10-year service life and no residual value. Do you ..

Cost-volume-profit analysis improve understanding : How does Cost-Volume-Profit (CVP) analysis improve understanding and comparisons when using the contribution margin to determine a company'sbreakeven point for a single product or multiple products?

User Account

All Pages