Accounting Majors Help!

[niketalk7]

Direct Material Costs / Manufacturing overhead?
I can't seem to get the right answer for this. I thought it's just costs of good manufacturing = direct material? can someone help please?

1)

Direct Labor $400
Indirect materials 375
Beginning work in process 0
Ending work in process 0
costs of goods manufactured 1,050
beginning finished goods 2,450
ending finished goods 3,400

How much direct material costs were incurred during this period?


2)

Purchases of direct materials $30,000
Indirect labor 20,000
ending direct materials inventory 10,000
beginning direct materials inventory 0
total manufacturing costs 115,000
direct labor 25,000

How much manufacturing overhead was incurred during this period?




Can you tell the answer and how you got it cuz i'm really confused right now

 

[niketalk7]

Direct Material Costs / Manufacturing overhead?
I can't seem to get the right answer for this. I thought it's just costs of good manufacturing = direct material? can someone help please?

1)

Direct Labor $400
Indirect materials 375
Beginning work in process 0
Ending work in process 0
costs of goods manufactured 1,050
beginning finished goods 2,450
ending finished goods 3,400

How much direct material costs were incurred during this period?


2)

Purchases of direct materials $30,000
Indirect labor 20,000
ending direct materials inventory 10,000
beginning direct materials inventory 0
total manufacturing costs 115,000
direct labor 25,000

How much manufacturing overhead was incurred during this period?




Can you tell the answer and how you got it cuz i'm really confused right now

 

[youmadyoubad]

lol, dude seriously?

 

[youmadyoubad]

lol, dude seriously?

 

[CJ616]

Managerial Accounting 

.  If this was two semesters ago, I might have been able to help.

 

[CJ616]

Managerial Accounting 

.  If this was two semesters ago, I might have been able to help.

 

[ham city]

Originally Posted by niketalk7

Direct Material Costs / Manufacturing overhead?
I can't seem to get the right answer for this. I thought it's just costs of good manufacturing = direct material? can someone help please?

1)

Direct Labor $400
Indirect materials 375
Beginning work in process 0
Ending work in process 0
costs of goods manufactured 1,050
beginning finished goods 2,450
ending finished goods 3,400

How much direct material costs were incurred during this period?

COGM (1,050) - DL (400) - Indirect Materials (375) = Direct Materials (275)

2)

Purchases of direct materials $30,000
Indirect labor 20,000
ending direct materials inventory 10,000
beginning direct materials inventory 0
total manufacturing costs 115,000
direct labor 25,000

How much manufacturing overhead was incurred during this period?

Total Manufacturing Cost (115,000) - DM used in production (0 + 30,000 - 10,000 = 20,000) - DL (25,000) = Manu Overhead (70,000)


Can you tell the answer and how you got it cuz i'm really confused right now

Be careful with #1, I don't know why finished goods is listed, IIRC it shouldn't matter in determining DM given that situation but it's been a few years. It also seems like there should be some different pieces of information given but with what you listed, that's the answer.

And find a way to understand your assignments or you will fail. Tutoring, study groups, something. Managerial Accounting isn't hard if you understand all aspects of the material but it's damn near impossible if you don't.

 

[ham city]

Originally Posted by niketalk7

Direct Material Costs / Manufacturing overhead?
I can't seem to get the right answer for this. I thought it's just costs of good manufacturing = direct material? can someone help please?

1)

Direct Labor $400
Indirect materials 375
Beginning work in process 0
Ending work in process 0
costs of goods manufactured 1,050
beginning finished goods 2,450
ending finished goods 3,400

How much direct material costs were incurred during this period?

COGM (1,050) - DL (400) - Indirect Materials (375) = Direct Materials (275)

2)

Purchases of direct materials $30,000
Indirect labor 20,000
ending direct materials inventory 10,000
beginning direct materials inventory 0
total manufacturing costs 115,000
direct labor 25,000

How much manufacturing overhead was incurred during this period?

Total Manufacturing Cost (115,000) - DM used in production (0 + 30,000 - 10,000 = 20,000) - DL (25,000) = Manu Overhead (70,000)


Can you tell the answer and how you got it cuz i'm really confused right now

Be careful with #1, I don't know why finished goods is listed, IIRC it shouldn't matter in determining DM given that situation but it's been a few years. It also seems like there should be some different pieces of information given but with what you listed, that's the answer.

And find a way to understand your assignments or you will fail. Tutoring, study groups, something. Managerial Accounting isn't hard if you understand all aspects of the material but it's damn near impossible if you don't.