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L.O. 2. 4) 2-48. Prepare Statements for a Prepare Statements for a Manufacturing Company The administrative...
The administrative offices and manufacturing plant of Billings Tool & Die share the same building. The...
The administrative offices and manufacturing plant of Billings Tool & Die share the same building. The following information (in $000s) appears in the accounting records for last year: Administrative costs $ 1,651 Building and machine depreciation (75% of this amount is for factory) 1,000 Building utilities (90% of this amount is for factory) 1,330 Direct labor 835 Direct materials inventory, December 31 12 Direct materials inventory, January 1 10 Direct materials purchases 3,690 Factory supervision 491 Finished goods inventory,...
The administrative offices and manufacturing plant of Billings Tool & Die share the same building. The...
The administrative offices and manufacturing plant of Billings Tool & Die share the same building. The following information (in $000s) appears in the accounting records for last year. $ 1,659 900 1,160 855 16 13 3,670 477 Administrative costs Building and machine depreciation (75% of this amount is for factory) Building utilities (90% of this amount is for factory) Direct labor Direct materials inventory, December 31 Direct materials inventory, January 1 Direct materials purchases Factory supervision Finished goods inventory, December...
The administrative offices and manufacturing plant of Billings Tool & Die share the same building The...
The administrative offices and manufacturing plant of Billings Tool & Die share the same building The following information (in $000s) appears in the accounting records for last year Administrative costs Building and machine depreciation (75% of this amount is for factory) Building utilities (90% of this amount is for factory) Direct labor Direct materials inventory, December 31 Direct materials inventory, January 1 Direct materials purchases Factory supervision Finished goods inventory, December 31 Finished goods inventory, January 1 Indirect factory labor...
Westlake, Inc. produces metal fittings for the aerospace industry. The administrative and manufacturing operations occupy the...
Westlake, Inc. produces metal fittings for the aerospace
industry. The administrative and manufacturing operations occupy
the same 200,000 square foot building. The manufacturing plant uses
150,000 square feet. Depreciation is assigned based on building
use. Indirect labor represents 15 percent of the total
manufacturing plant labor.
The financial information for the year just ended is shown as
follows.
.
1. Prepare a cost of goods manufactured and
sold statement.
There are mistakes in this answer, so I need the full...
Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company The following information...
Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company The following information is available for Shanika Company for 20Y6: Inventories January 1 December 31 Materials $317,850 $394,130 Work in process 572,130 536,020 Finished goods 549,880 547,840 Advertising expense $267,610 Depreciation expense-office equipment 37,840 Depreciation expense-factory equipment 50,840 Direct labor 606,960 Heat, light, and power-factory 20,100 Indirect labor 70,940 Materials purchased 595,140 Office salaries expense 207,710 Property taxes-factory 16,550 Property taxes-headquarters building 34,290 Rent expense-factory 27,980 Sales...
3 Information for York Plastics as of December 31 follows. Prepare (a) the company's manufacturing statement...
3 Information for York Plastics as of December 31 follows. Prepare (a) the company's manufacturing statement for the year ended December 31; (b) prepare the company's income statement that reports separate categories for selling and general and administrative expenses. Administrative salaries expense $ 135,000 Depreciation expense - Factory equipment 52,400 36,200 Depreciation expense - Delivery vehicles 24,800 Depreciation expense - Office equipment 22,350 Advertising expense 268,000 Direct labor 12,000 Factory supplies used 91,500 Income taxes expense 35,000 Indirect labor Indirect...
(2-37. Prepare Statements for a Manufacturing Company The following balances are from the accounts of Tappan...
(2-37. Prepare Statements for a Manufacturing Company The following balances are from the accounts of Tappan Parts. January 1 (Beginning) December 31 (Ending) Direct materials inventory Work-in-process inventory ... Finished goods inventory. $ 962,000 1,354,000 312,000 $ 884,000 1,430,000 364,000 Direct materials used during the year amount to $1,196,000 and the cost of goods sold for the year was $1,378,000 Required Find the following by completing a cost of goods sold statement. (I. Cost of direct materials purchased during the...
2-42) Prepare Statements for a Manufacturing Company The following balances are from the accounts of Crabtree...
2-42) Prepare Statements for a Manufacturing Company The following balances are from the accounts of Crabtree Machining Company. January 1 (Beginning) Direct materials inventory.. $115,200 Work-in-process inventory ........ 139,200 Finished goods inventory.......... 117,120 SELAMA December 31 (Ending) $141,600 134,400 108,000 MASTUS Direct materials purchased during the year amount to $717,600, and the cost of goods sold for the year was $2,606,880. Required Reconstruct a cost of goods sold statement and fill in the following missing data. a. Cost of direct...
Prepare a schedule of cost of goods manufactured and sold for Lederman Manufacturing Corporation for the...
Prepare a schedule of cost of goods manufactured and sold for Lederman Manufacturing Corporation for the year ended December 31,2016, assuming that there were no other manufacturing overhead items than those listed above Do not use negative signs with any of your answers. Lederman Manufacturing Corporation Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31,2016 Direct material: Beginning materials inventory $ 60000 x Beginning work in process inv X 60000 x Cost of material available...
Financial Statements of a Manufacturing Firm The following events took place for Digital Vibe Manufacturing Company...
Financial Statements of a Manufacturing Firm
The following events took place for Digital Vibe Manufacturing
Company during January, the first month of its operations as a
producer of digital video monitors:
Purchased $54,300 of materials
Used $41,800 of direct materials in production.
Incurred $62,400 of direct labor wages.
Incurred $88,000 of factory overhead.
Transferred $146,100 of work in process to finished goods.
Sold goods for $261,200.
Sold goods with a cost of $116,200.
Incurred $66,800 of selling expenses.
Incurred $29,300...
The administrative offices and manufacturing plant of Billings Tool & Die share the same building. The following information (in $000s) appears in the accounting records for last year. $ 1,659 900 1,160 855 16 13 3,670 477 Administrative costs Building and machine depreciation (75% of this amount is for factory) Building utilities (90% of this amount is for factory) Direct labor Direct materials inventory, December 31 Direct materials inventory, January 1 Direct materials purchases Factory supervision Finished goods inventory, December...
The administrative offices and manufacturing plant of Billings Tool & Die share the same building The following information (in $000s) appears in the accounting records for last year Administrative costs Building and machine depreciation (75% of this amount is for factory) Building utilities (90% of this amount is for factory) Direct labor Direct materials inventory, December 31 Direct materials inventory, January 1 Direct materials purchases Factory supervision Finished goods inventory, December 31 Finished goods inventory, January 1 Indirect factory labor...
Westlake, Inc. produces metal fittings for the aerospace
industry. The administrative and manufacturing operations occupy
the same 200,000 square foot building. The manufacturing plant uses
150,000 square feet. Depreciation is assigned based on building
use. Indirect labor represents 15 percent of the total
manufacturing plant labor.
The financial information for the year just ended is shown as
follows.
.
1. Prepare a cost of goods manufactured and
sold statement.
There are mistakes in this answer, so I need the full...
3 Information for York Plastics as of December 31 follows. Prepare (a) the company's manufacturing statement for the year ended December 31; (b) prepare the company's income statement that reports separate categories for selling and general and administrative expenses. Administrative salaries expense $ 135,000 Depreciation expense - Factory equipment 52,400 36,200 Depreciation expense - Delivery vehicles 24,800 Depreciation expense - Office equipment 22,350 Advertising expense 268,000 Direct labor 12,000 Factory supplies used 91,500 Income taxes expense 35,000 Indirect labor Indirect...
(2-37. Prepare Statements for a Manufacturing Company The following balances are from the accounts of Tappan Parts. January 1 (Beginning) December 31 (Ending) Direct materials inventory Work-in-process inventory ... Finished goods inventory. $ 962,000 1,354,000 312,000 $ 884,000 1,430,000 364,000 Direct materials used during the year amount to $1,196,000 and the cost of goods sold for the year was $1,378,000 Required Find the following by completing a cost of goods sold statement. (I. Cost of direct materials purchased during the...
2-42) Prepare Statements for a Manufacturing Company The following balances are from the accounts of Crabtree Machining Company. January 1 (Beginning) Direct materials inventory.. $115,200 Work-in-process inventory ........ 139,200 Finished goods inventory.......... 117,120 SELAMA December 31 (Ending) $141,600 134,400 108,000 MASTUS Direct materials purchased during the year amount to $717,600, and the cost of goods sold for the year was $2,606,880. Required Reconstruct a cost of goods sold statement and fill in the following missing data. a. Cost of direct...
Prepare a schedule of cost of goods manufactured and sold for Lederman Manufacturing Corporation for the year ended December 31,2016, assuming that there were no other manufacturing overhead items than those listed above Do not use negative signs with any of your answers. Lederman Manufacturing Corporation Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31,2016 Direct material: Beginning materials inventory $ 60000 x Beginning work in process inv X 60000 x Cost of material available...
Financial Statements of a Manufacturing Firm
The following events took place for Digital Vibe Manufacturing
Company during January, the first month of its operations as a
producer of digital video monitors:
Purchased $54,300 of materials
Used $41,800 of direct materials in production.
Incurred $62,400 of direct labor wages.
Incurred $88,000 of factory overhead.
Transferred $146,100 of work in process to finished goods.
Sold goods for $261,200.
Sold goods with a cost of $116,200.
Incurred $66,800 of selling expenses.
Incurred $29,300...
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