Exercise 5-18

Name:

Solution

Insert your answers in the gray-shaded cells of column G.

If an amount is to be subtracted, enter it as a negative. If an

answer is incorrect, the word “wrong” will appear.

a.

Cost of goods sold

$ 18,90,000

b.

Cost of goods sold

$ 18,90,000

+ Ending finished goods

         57,000

– Beginning finished goods

       (90,000)

Cost of goods manufactured

c.

Direct labor

$   3,95,000

Application rate

             1.40

Applied overhead

d.

Cost of goods manufactured

$ 18,57,000

+ Ending work in process

         27,640

– Applied overhead

    (5,53,000)

– Direct labor

    (3,95,000)

– Beg. work in process

       (56,000)

Direct materials used

e.

End. direct materials

$        4,100

+ Direct materials used

      8,80,640

– Beg. direct materials

       (24,600)

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