Selected data concerning operations of Cascade Manufacturing Company for the past fiscal year follow: Raw materials used $300,000

Total manufacturing costs charged to production during the year (includes raw materials, direct labor, and manufacturing overhead applied at a rate of 60 percent of direct labor costs) 681,000

Cost of goods available for sale 826,000

Selling and general expenses 30,000

Beginning Inventories

Raw materials $70,000

Work-in-process 85,000

Finished goods 90,000

Ending Inventories

Raw materials $80,000

Work-in-process 30,000

Finished goods 110,000

Determine each of the following:

a. Cost of raw materials purchased

b. Direct labor costs charged to production

c. Cost of goods manufactured

d. Cost of goods sold

a.   Purchases $310,000

b.     Direct labor  $ 238,125

c. Cost of goods manufactured $ 736,000

d. Cost of goods sold $ 716,000

Explanation:

Cascade Manufacturing Company

Raw materials used $300,000

Add Raw materials Ending   $80,000

Less Raw materials  Beginning $70,000

a.   Purchases $310,000

Add Raw materials Ending to Raw materials used and subtract  Raw materials  Beginning to get  Raw materials  Purchases.

Total manufacturing costs $  681,000

Less Raw materials used $300,000

Conversion Costs  $ 381,000

Conversion Costs = Direct Labor + Factory Overhead

$ 381,000=  x + 0.6 x

$ 381,000= 1.6x

b.   x=  Direct labor = $ 381,000/1.6=  $ 238,125

Factory Overhead= 0.6 *$ 238,125= $ 142875

Find Conversion Costs and then apply the ratio to get the direct labor costs.

c.

Cascade Manufacturing Company

Cost of goods manufactured

Raw materials  Beginning $70,000

Add Purchases $310,000

Less Raw materials Ending   $80,000

Raw materials used $300,000

Add Direct labor   $ 238,125

Factory Overhead $ 142875

Total manufacturing costs $  681,000

Add Work-in-process Beginning 85,000

Cost of goods available for manufacture $ 766,000

Less Work-in-process Ending 30,000

Cost of goods manufactured $ 736,000

Add and subtract as above to get the Cost of goods manufactured.

d.  Cascade Manufacturing Company

Cost of goods sold

Raw materials  Beginning $70,000

Add Purchases $310,000

Less Raw materials Ending   $80,000

Raw materials used $300,000

Add Direct labor   $ 238,125

Factory Overhead $ 142875

Total manufacturing costs $  681,000

Add Work-in-process Beginning 85,000

Cost of goods available for manufacture $ 766,000

Less Work-in-process Ending 30,000

Cost of goods manufactured $ 736,000

Add Finished goods Beginning 90,000

Cost of goods available for sale  $ 826,000

Less Finished goods Ending 110,000

Cost of goods sold $ 716,000

Add and subtract as above to get the Cost of goods sold.

There are many reasons why some people go to work late.

Here are some reasons why:

1) Sleeping in late. Parents, or people that are striving for success in college are normaly up late taking care of what they need too.

2) Missing the bus, or not having a ride. Some people don't have cars, so they turn to buses and family. If they can't quite get family to help, the go to the bus, but bus times can change making it hard for them to get on a bus.

3) Feeling sick, when people are sick they wake up, and they don't want to do much. So they eat, get dressed, etc late. So they end up going to work late.