Purchase Solution

Madlock Manufacturing Company

Not what you're looking for?

Ask Custom Question

Madlock Manufacturing Company

Work in Progress 1/1 $210,000.00
Direct Materials
Raw materials inventory (1/1) $ ?
Add: Raw Materials to Purchases $158,000
Total Raw Materials Available for use $ ?
Less Raw Materials Inventory (12/31) $7,500
Direct Materials Used $190,000.00
Direct Labor $ ?
Manufacturing Overhead
Indirect Labor $18,000
Factory Depreciation $36,000
Factory Utilities $68,000
Total Overhead $122,000.00
Total manufacturing costs $ ?
Total cost of work in progress $ ?
Less: Work in process (12/31) $81,000.00
Cost of Goods Manufactured $530,000.00
Complete the cost of Goods Manufactured Schedule?

Purchase this Solution

Solution Summary

This solution is comprised of a detailed explanation to determine Missing Amounts in the Cost of Goods Manufactured.

Solution Preview

Madlock Manufacturing Company

Work in Progress 1/1 $210,000.00
Direct Materials
Raw materials inventory (1/1) $ 39,500
Add: Raw Materials to Purchases $158,000
Total Raw Materials Available for use $197,500
Less Raw Materials Inventory (12/31) $ 7,500
Direct Materials Used $190,000.00
Direct Labor $ 89,000.00 ...

Purchase this Solution


Free BrainMass Quizzes
Production and cost theory

Understanding production and cost phenomena will permit firms to make wise decisions concerning output volume.

Basic Social Media Concepts

The quiz will test your knowledge on basic social media concepts.

Basics of corporate finance

These questions will test you on your knowledge of finance.

Writing Business Plans

This quiz will test your understanding of how to write good business plans, the usual components of a good plan, purposes, terms, and writing style tips.

Organizational Behavior (OB)

The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.