Exercise 5-18 Name:
Insert your answers in the gray-shaded cells of column G.
If an amount is to be subtracted, enter it as a negative. If an
answer is incorrect, the word “wrong” will appear.
a. Cost of goods sold 1,890,000$
b. Cost of goods sold 1,890,000$
+ Ending finished goods 57,000
– Beginning finished goods (90,000)
Cost of goods manufactured 1,857,000$
c. Direct labor 395,000$
Application rate 1.40
Applied overhead 553,000$
d. Cost of goods manufactured 1,857,000$
+ Ending work in process 27,640
– Applied overhead (553,000)
– Direct labor (395,000)
– Beg. work in process (56,000)
Direct materials used 880,640$
e. End. direct materials 4,100$
+ Direct materials used 880,640
– Beg. direct materials
(24,600)
Purchases 860,140$
Solution