Solved

The Following Account Balances at the Beginning of January Were

question 145

Multiple Choice

The following account balances at the beginning of January were selected from the general ledger of Sailor Manufacturing Company: Work in process inventory $0
Raw materials inventory $26,000
Finished goods inventory $46,000
Additional data:
1) Actual manufacturing overhead for January amounted to $62,000.
2) Total direct labor cost for January was $57,000.
3) The predetermined manufacturing overhead rate is based on direct labor cost.The budget for the year called for $300,000 of direct labor cost and $360,000 of manufacturing overhead costs.
4) The only job unfinished on January 31 was Job No.1002,for which total direct labor charges were $6,300 (800 direct labor hours) and total direct material charges were $12,000.
5) Cost of direct materials placed in production during January totaled $101,000.There were no indirect material requisitions during January.
6) January 31 balance in raw materials inventory was $32,000.
7) Finished goods inventory balance on January 31 was $34,500.
-
What is the cost of goods manufactured for January?

Definitions:

Employees' Needs

Refers to the various requirements, desires, or things that employees consider important or necessary in their work environment, including fair compensation, job security, and professional growth opportunities.

Initial Activities

The preliminary actions or efforts undertaken at the start of a project, program, or process.

Personnel Department

An organizational unit tasked with managing employee-related functions, such as hiring, training, and benefits administration; often called Human Resources.

Functions

The roles, activities, or tasks that are natural to or intended for a person, object, or organization.