An analysis of the accounts of Crane Company reveals the following manufacturing cost data for...
60.1K
Verified Solution
Link Copied!
Question
Accounting
An analysis of the accounts of Crane Company reveals the following manufacturing cost data for the month ended September 30, 2020.
Inventories
Beginning
Ending
Raw materials
$ 12,100
$ 11,400
Work in process
7,600
5,100
Finished goods
10,100
12,100
Costs incurred: raw materials purchases $ 62,600, direct labor $ 51,100, manufacturing overhead $ 26,250. The specific overhead costs were: indirect labor $ 6,600, factory insurance $ 5,100, machinery depreciation $ 6,100, machinery repairs $ 2,900, factory utilities $ 3,700, miscellaneous factory costs $ 1,850. Assume that all raw materials used were direct materials.
Crane Company is considering the purchase of a new automated assembly line for its factory. The purchase would result in several changes in Crane cost structure. Both direct labor and indirect labor would decrease by 40%. Factory insurance would increase to $ 8,100, machinery depreciation would double, machinery repairs would decrease to $ 510, utilities would decrease to $ 2,600 and miscellaneous factory costs would increase to $ 1,950. Materials usage would remain at current levels. Analyze the new purchase by preparing a cost of goods manufactured schedule for September 30, 2020 using the new data.
Crane Co. Cost of Goods Manufacturing Schedule choose the accounting period For the Month Ended September 30, 2020For the Year Ended September 30, 2020September 30, 2020
select
$ enter a dollar amount
select
select
$ enter a dollar amount
select
enter a dollar amount
select
enter a total of the two previous amounts
select
enter a dollar amount
select
$ enter a total amount for section one
select
enter a dollar amount
select
select
enter a dollar amount
select
enter a dollar amount
select
enter a dollar amount
select
enter a dollar amount
select
enter a dollar amount
select
enter a dollar amount
select
enter a total amount for section two
select
enter a total amount for the first part
select
enter a total amount for all two parts
select
enter a dollar amount
select
$ enter a total amount for this schedule
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!