Homework Answers
Cost of Goods Manufactured :
Property Tax on Building : 3,000
Add : Plant Utilities : 17,000
Add : Depreciation of plant building : 9,000
Add : Opening Work in process inventory : Nil
Less : Closing Work in process inventory : (26,000)
Cost of Goods Manufactured : 3,000
Cost of Goods Sold :
Cost of Goods Manufactured : 3,000
Add : Opening Finished Goods Inventory : 27,000
Less : Closing Finished Goods Inventory : Nil
Cost of Goods Sold : 30,000
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Exercise 5 (Cost of goods manufactured and sold) Compute cost of goods manufactured and cost of...
2-28 Computing cost of goods manufactured and cost of goods sold. The following are account be...
2-28 Computing cost of goods manufactured and cost of goods sold. The following are account be NINTRODUCTION TO COST TERMS AND PURPOSES R 200 800 ances relating to 2019 (in thousands): Property tax on plant building Marketing, distribution, and customer-service costs Finished goods inventory, January 1, 2019 Plant utilities Work-in-process inventory, December 31, 2019 Depreciation of plant building General and administrative costs (nonplant) Direct materials used $ 4,200 44,400 37,400 20,400 32,200 14,700 51,600 106,800 44,800 14,700 19,200 25,000 38,400...
Exercise 6 (Cost of goods manufactured) Consider the following account balances (in thousands) for the Canseco...
Exercise 6 (Cost of goods manufactured) Consider the following account balances (in thousands) for the Canseco Company Beginning End of of 20X120X1 Direct materials inventory Work in process inventory Finished goods inventory Purchases of direct materials Direct manufacturing labor Indirect manufacturing labor Plant insurance Depreciation plant building and equipment Repairs and maintenance- plant Marketing, distribution, and customer- service costs General and administrative costs P22,000 P26,000 21,000 20,000 18,000 23,000 75,000 25,000 15,000 9,000 11,000 4,000 93,000 29,000 Required. 1. Prepare...
1. Cost of goods manufactured, income statement, manufacturing company. Consider the following account balances (in thousands)...
1. Cost of goods manufactured, income statement, manufacturing company. Consider the following account balances (in thousands) for the Carolina Corporation: Carolina Corporation Beginning of 2017 End of 2017 124,000 73,000 Direct materials inventory Work-in-process inventory 145,000 173,000 Finished-goods inventory 206.000 240.000 Purchases of direct materials 262,000 Direct manufacturing labor 217,000 indirect manufacturing labor 97.000 Plant insurance 9,000 Depreciation-plant, building, and equipment 45,000 Plant utilities 26,000 Repairs and maintenance plant 12,000 Equipment leasing costsplant 65,000 Marketing, distribution, and customer service costs...
can you explain how to get the answer 1. Cost of goods manufactured, income statement, manufacturing...
can you explain how to get the answer
1. Cost of goods manufactured, income statement, manufacturing company. Consider following account balances (in thousands) for the Carolina Corporation: Carolina Corporation Beginning of 2017 End of 2017 124,000 73,000 Direct materials inventory Work-in-process inventory 173,000 145,000 Finished-goods inventory 206,000 240,000 Purchases of direct materials 262,000 Direct manufacturing labor 217,000 Indirect manufacturing labor 97.000 Plant insurance 9,000 Depreciation--plant, building, and equipment 45,000 Plant utilities 26,000 Repairs and maintenance plant 12,000 Equipment leasing costs-plant...
Старе 2 2-37 Cost of goods manufactured, income statement, manufacturing company. Consider the following account balances...
Старе 2 2-37 Cost of goods manufactured, income statement, manufacturing company. Consider the following account balances (in thousands) for the Peterson Company: Beginning of 2017 21,000 26,000 13,000 Peterson Company Direct materials inventory Work-in-process inventory Finished-goods inventory Purchases of direct materials Direct manufacturing labor Indirect manufacturing labor Plant insurance Depreciation-plant, building, and equipment Repairs and maintenance-plant Marketing, distribution, and customer-service costs General and administrative costs End of 2017 23,000 25,000 20,000 74,000 22,000 17,000 7,000 11,000 3,000 91,000 24,000 1....
E2-26A Compute Cost of Goods Manufactured and Cost of Goods Sold Learning Objective 5) Compute the...
E2-26A Compute Cost of Goods Manufactured and Cost of Goods Sold Learning Objective 5) Compute the Cost of Goods Manufactured and Cost of Goods Sold for West Nautical Company for the most recent year using the amounts described next. Assume that the Raw Materials Inventory contains only direct materials Beginning End Year of Year End of Year of Raw materials inventory Work in process inventory Finished goods inventory $23,000 $25,000 Insurance on plant..$ 11,500 $35,000 $31,000 Depreciation-plant building and equipment.....
Exercise 2-29 Schedules of Cost of Goods Manufactured and Sold; Income Statement (LO 2-1, 2-3, 2-6)...
Exercise 2-29 Schedules of Cost of Goods Manufactured and Sold; Income Statement (LO 2-1, 2-3, 2-6) [The following information applies to the questions displayed below.] Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1. Inventory Classification January 1, 20x1 December 31, 20x1 Raw material $ 55,000 $ 70,000 Work in process 120,000 115,000 Finished goods 150,000 165,000 During 20x1, the company purchased $250,000 of raw material and spent...
Required information Exercise 2-29 Schedules of Cost of Goods Manufactured and Sold Income Statement (LO 2-1,...
Required information Exercise 2-29 Schedules of Cost of Goods Manufactured and Sold Income Statement (LO 2-1, 2-3, 2-6) [The following information applies to the questions displayed below.] Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1 Inventory Classification Raw material Work in process Finished goods January 1, 20x1 $ 65, 000 120,000 170,000 December 31, 20x1 $ 70,000 115,000 165,000 During 20x1, the company purchased $240,000 of raw...
Exercise 2-29 Schedules of Cost of Goods Manufactured and Sold; Income Statement (LO 2-1, 2-3, 2-6)...
Exercise 2-29 Schedules of Cost of Goods Manufactured and Sold;
Income Statement (LO 2-1, 2-3, 2-6)
[The following information applies to the questions
displayed below.]
Alexandria Aluminum Company, a manufacturer of recyclable soda
cans, had the following inventory balances at the beginning and end
of 20x1.
Inventory Classification
January 1, 20x1
December 31, 20x1
Raw material
$
55,000
$
70,000
Work in process
120,000
115,000
Finished goods
150,000
165,000
During 20x1, the company purchased $250,000 of raw material and
spent...
Compute the Cost of Goods Manufactured and Cost of Goods Sold for Strike Marine Company for...
Compute the Cost of Goods Manufactured and Cost of Goods Sold for Strike Marine Company for the most recent year using the amounts described next. Assume that Raw Materials Inventory contains only direct materials (Click the loon to view the data) Start the caloulation for cost of goods manufactured by caloulating the direct materials used Strike Marine Company Calculation of Direct Materials Used For Current Year Plus Less: Direct materials used Data Table Beginning End of End of of Year...
2-28 Computing cost of goods manufactured and cost of goods sold. The following are account be NINTRODUCTION TO COST TERMS AND PURPOSES R 200 800 ances relating to 2019 (in thousands): Property tax on plant building Marketing, distribution, and customer-service costs Finished goods inventory, January 1, 2019 Plant utilities Work-in-process inventory, December 31, 2019 Depreciation of plant building General and administrative costs (nonplant) Direct materials used $ 4,200 44,400 37,400 20,400 32,200 14,700 51,600 106,800 44,800 14,700 19,200 25,000 38,400...
Exercise 6 (Cost of goods manufactured) Consider the following account balances (in thousands) for the Canseco Company Beginning End of of 20X120X1 Direct materials inventory Work in process inventory Finished goods inventory Purchases of direct materials Direct manufacturing labor Indirect manufacturing labor Plant insurance Depreciation plant building and equipment Repairs and maintenance- plant Marketing, distribution, and customer- service costs General and administrative costs P22,000 P26,000 21,000 20,000 18,000 23,000 75,000 25,000 15,000 9,000 11,000 4,000 93,000 29,000 Required. 1. Prepare...
1. Cost of goods manufactured, income statement, manufacturing company. Consider the following account balances (in thousands) for the Carolina Corporation: Carolina Corporation Beginning of 2017 End of 2017 124,000 73,000 Direct materials inventory Work-in-process inventory 145,000 173,000 Finished-goods inventory 206.000 240.000 Purchases of direct materials 262,000 Direct manufacturing labor 217,000 indirect manufacturing labor 97.000 Plant insurance 9,000 Depreciation-plant, building, and equipment 45,000 Plant utilities 26,000 Repairs and maintenance plant 12,000 Equipment leasing costsplant 65,000 Marketing, distribution, and customer service costs...
can you explain how to get the answer
1. Cost of goods manufactured, income statement, manufacturing company. Consider following account balances (in thousands) for the Carolina Corporation: Carolina Corporation Beginning of 2017 End of 2017 124,000 73,000 Direct materials inventory Work-in-process inventory 173,000 145,000 Finished-goods inventory 206,000 240,000 Purchases of direct materials 262,000 Direct manufacturing labor 217,000 Indirect manufacturing labor 97.000 Plant insurance 9,000 Depreciation--plant, building, and equipment 45,000 Plant utilities 26,000 Repairs and maintenance plant 12,000 Equipment leasing costs-plant...
Старе 2 2-37 Cost of goods manufactured, income statement, manufacturing company. Consider the following account balances (in thousands) for the Peterson Company: Beginning of 2017 21,000 26,000 13,000 Peterson Company Direct materials inventory Work-in-process inventory Finished-goods inventory Purchases of direct materials Direct manufacturing labor Indirect manufacturing labor Plant insurance Depreciation-plant, building, and equipment Repairs and maintenance-plant Marketing, distribution, and customer-service costs General and administrative costs End of 2017 23,000 25,000 20,000 74,000 22,000 17,000 7,000 11,000 3,000 91,000 24,000 1....
E2-26A Compute Cost of Goods Manufactured and Cost of Goods Sold Learning Objective 5) Compute the Cost of Goods Manufactured and Cost of Goods Sold for West Nautical Company for the most recent year using the amounts described next. Assume that the Raw Materials Inventory contains only direct materials Beginning End Year of Year End of Year of Raw materials inventory Work in process inventory Finished goods inventory $23,000 $25,000 Insurance on plant..$ 11,500 $35,000 $31,000 Depreciation-plant building and equipment.....
Required information Exercise 2-29 Schedules of Cost of Goods Manufactured and Sold Income Statement (LO 2-1, 2-3, 2-6) [The following information applies to the questions displayed below.] Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1 Inventory Classification Raw material Work in process Finished goods January 1, 20x1 $ 65, 000 120,000 170,000 December 31, 20x1 $ 70,000 115,000 165,000 During 20x1, the company purchased $240,000 of raw...
Exercise 2-29 Schedules of Cost of Goods Manufactured and Sold;
Income Statement (LO 2-1, 2-3, 2-6)
[The following information applies to the questions
displayed below.]
Alexandria Aluminum Company, a manufacturer of recyclable soda
cans, had the following inventory balances at the beginning and end
of 20x1.
Inventory Classification
January 1, 20x1
December 31, 20x1
Raw material
$
55,000
$
70,000
Work in process
120,000
115,000
Finished goods
150,000
165,000
During 20x1, the company purchased $250,000 of raw material and
spent...
Compute the Cost of Goods Manufactured and Cost of Goods Sold for Strike Marine Company for the most recent year using the amounts described next. Assume that Raw Materials Inventory contains only direct materials (Click the loon to view the data) Start the caloulation for cost of goods manufactured by caloulating the direct materials used Strike Marine Company Calculation of Direct Materials Used For Current Year Plus Less: Direct materials used Data Table Beginning End of End of of Year...
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