The following table summarizes the beginning and ending inventories of Ariel Co. for the month of October: $$\begin{array} { l r r }
& \text { Sept. 30 } & \text { Oct. 31 } \
\text { Raw materials } & \$ 29,700 & \$ 31,000 \
\text { Work-in-process } & 65,800 & 61,000 \
\text { Finished process } & 52,700 & 46,200
\end{array}$$ Raw materials purchased during the month of October totaled $112,300. Direct labor costs incurred totaled $234,800 for the month. Actual and applied manufacturing overhead costs for October totaled $145,100 and $149,400, respectively.
(a) Calculate the cost of goods manufactured for October.
(b) Calculate the cost of goods sold for October (Ignore under/overapplied overhead).
(c) Given the fact that 25,000 units were produced, what is the cost per unit for October?

Question

The following table summarizes the beginning and ending inventories of Ariel Co. for the month of October: $$\begin{array} { l r r } 
& \text { Sept. 30 } & \text { Oct. 31 } \
\text { Raw materials } & \$ 29,700 & \$ 31,000 \
\text { Work-in-process } & 65,800 & 61,000 \
\text { Finished process } & 52,700 & 46,200
\end{array}$$ Raw materials purchased during the month of October totaled $112,300. Direct labor costs incurred totaled $234,800 for the month. Actual and applied manufacturing overhead costs for October totaled $145,100 and $149,400, respectively.
(a) Calculate the cost of goods manufactured for October.
(b) Calculate the cost of goods sold for October (Ignore under/overapplied overhead).
(c) Given the fact that 25,000 units were produced, what is the cost per unit for October?

Quizplus · Accepted Answer

The Answer of The following table summarizes the beginning and ending inventories of Ariel Co. for the month of October: $$\begin{array} { l r r } 
& \text { Sept. 30 } & \text { Oct. 31 } \
\text { Raw materials } & \$ 29,700 & \$ 31,000 \
\text { Work-in-process } & 65,800 & 61,000 \
\text { Finished process } & 52,700 & 46,200
\end{array}$$ Raw materials purchased during the month of October totaled $112,300. Direct labor costs incurred totaled $234,800 for the month. Actual and applied manufacturing overhead costs for October totaled $145,100 and $149,400, respectively.
(a) Calculate the cost of goods manufactured for October.
(b) Calculate the cost of goods sold for October (Ignore under/overapplied overhead).
(c) Given the fact that 25,000 units were produced, what is the cost per unit for October?

The Following Table Summarizes the Beginning and Ending Inventories of Ariel