Find the cost of raw material purchased

Reference no: EM1341383

Cost Accounting for Wilson Production

Part 2: The following information has been taken from the cost records of Wilson Production, Inc., for the past year:

Raw material used in production $326
Total manufacturing costs charged to production during the year (includes direct material, direct labor, and overhead equal to 60% of direct labor cost) 686
Cost of goods available for sale 826
Selling and Administrative expenses 25

Inventories Beginning Ending
Raw Material $75 $ 85
Work in Process 80 30
Finished Goods 90 110

Answer the following questions. Show your work

a. The cost of raw material purchased during the year was

b. Direct labor cost charged to production during the year was

Reference no: EM1341383

Questions Cloud

Determine impact of changes in employee relations strategies : Defines unions and labor relations and their impact on organizations and Determine the impact of changes in employee relations strategies, policies, and practices on organizational performance

Question related to income statement and balance sheet : Question related to Income statement and balance sheet - Cash flow difficulties and competition from low-cost carriers

Question related to labor rate variance : Several people play an essential part in setting standards and Which of the following is incorrect as to setting standards

Definitions of public relations : State your personal definition of Public Relations and list down definitions from three different sources

Find the cost of raw material purchased : Find the cost of raw material purchased during the year and Direct labor cost charged to production during the year

Find the annual indirect labor cost : Indirect labor costs - Beres Corporation has developed the following flexible budget formula for annual indirect labor cost

Evaluate the cogs, direct labor and percentage increases : Evaluate the COGS, direct labor and percentage increases -The cost of goods sold for this company

Determine unit cost under a process cost accounting system : Determine unit cost under a process cost accounting system, equivalent units produced must be calculated if the company has goods in process inventories

Employment and retention of employees : Do you think having a union at a nursing home helps or hinders the employment and retention of employees

User Account

All Pages