Cost Terms and Classifications Paper 2

The manufacturing operations of Barton, Inc. had the following inventory balances for the month of March, 2000:
Inventories 3/1/00 3/31/00
Raw Materials 10,000 12,000
Work in process 6,000 7,000
Finished goods 30,000 22,000
If Barton purchased $18,000 of raw materials during March, the cost of raw materials used in production would be:

The manufacturing operations of Barton, Inc. had the following inventory balances for the month of March, 2000:
Inventories 3/1/00 3/31/00
Raw Materials 10,000 12,000
Work in process 6,000 7,000
Finished goods 30,000 22,000
If Barton transferred $38,000 of completed goods from work in process to finished goods during March, what was the amount of the cost of goods sold?

The schedule of cost of goods manufactured of Cartoon Company shows the following balances for the year ended December 31, 2000: Raw materials used in production, $900,000; Direct labour, 560,000; Total overhead costs, 750,000; Ending work in process inventory, 460,000; Cost of goods manufactured, 2,250,000. The beginning work in process inventory was:

The following information is taken from the records of Datum Company for the year ended May 31, 2000: Direct materials, $ 8,000; Direct labour, $3,000; Manufacturing overhead, $11,000; Ending work in process inventory, $5,000; Cost of goods manufactured, $19,000. The amount of beginning work in process inventory is:

The following information appears on the income statement of Teddy, Inc. for the year ended June 30, 2000: Beginning finished goods inventory, $150,475; Ending finished goods inventory, $145,750; Sales, $400,000; Gross margin, $120,000. The cost of goods manufactured for the year was:

The following information is taken from the balance sheet of El Felix Manufacturing at September 30, 2000: Total assets, $900,000; Cash, $20,000; Accounts receivable, $105,000; Finished goods inventory, $180,000; Work in process inventory, $65,000; Prepaid expenses, $15,000; Total long-term assets, $500,000. The raw materials inventory at September 30, 2000 was:

A manufacturing company prepays its insurance coverage for a three-year period. The premium for the three years is $3,000 and is paid at the beginning of the first year. Three-fourths of the premium applies to factory operations and one-fourth applies to selling and administrative activities. What amounts should be considered product and period costs respectively for the first year of coverage? Product / Period

Warren Company’s direct labour cost is 30% of its conversion cost. If the manufacturing overhead cost for the last period was $49,000 and the direct materials cost was $20,000, the direct labour cost was:

At a sales volume of 30,000 units, Judi, Inc.’s total fixed costs are $30,000 and total variable costs are $45,000. The relevant range for this product is 20,000 to 40,000 units. If Judi were to sell 32,000 units, the total expected cost would be:

At a sales volume of 30,000 units, Judi, Inc.’s total fixed costs are $30,000 and total variable costs are $45,000. The relevant range for this product is 20,000 to 40,000 units. If Judi were to sell 40,000 units, the total expected cost per unit (rounded to the nearest cent) would be: