Question 7 Vaughn Manufacturing reported the following year-end information: $1080000 300000 900000 Beginning work in process inventory Beginning raw materials inventory Ending work in process inventory Ending raw materials inventory Raw materials purchased Direct labor Manufacturing overhead 480000 9200000 820000 790000 Vaughn Manufacturing's cost of goods manufactured for the year is 0 $10450000. O $10990000. O $10810000. 0 $10630000. Question 8 Concord Corporation's accounting records reflect the following inventories: Raw materials inventory Work in process inventory Finished goods inventory Dec. 31, 2019 $ 80000 104000 100000 Dec. 31, 2020 $ 64000 116000 92000 During 2020, Concord purchased $1490000 of raw materials, incurred direct labor costs of $250000, and incurred manufacturing overhead totaling $160000. Assume Concord's cost of goods manufactured for 2020 amounted to $1904000. How much would it report as cost of goods sold for the year? O $1896000 O $1812000 O $2004000 O $1912000 Question 9 Sheridan Company reported total manufacturing costs of $350000, manufacturing overhead totaling $98000, and direct materials totaling $116000. How much is direct labor cost? O $234000. O Can not be determined from the information provided. 0 $564000. 0 $136000. Question 10 Bonita Industries has beginning work in process inventory of $164000 and total manufacturing costs of $886000. If cost of goods manufactured is $860000, what is the cost of the ending work in process inventory? $190000. O $138000. O $210000. O $170000. Question 16 In alphabetical order below are current asset items for Roland Company's balance sheet at December 31, 2020. Accounts receivable Cash Finished goods Prepaid expenses Raw materials Work in process $212,000 63,000 91,000 47,000 90,000 93,000 Prepare the current assets section. (List Current Assets in order of liquidity.) ROLAND COMPANY Balance Sheet Question 17 Presented below are incomplete manufacturing cost data. Determine the missing amounts for three different situations. Direct Materials Used Direct Labor Used Factory Overhead Total Manufacturing Costs E $43,700 $62,800 $53,600 $ 1 976.700 saz.20.0 $76,700 (2) $ (3) $143,000 $300,000 $57,800 g $115,000 $313,000
