Cost of Goods Manufactured and Sold Anglin Company, a manufacturing firm, has supplied the following information...
Cost of Goods Manufactured and Sold Anglin Company, a manufacturing firm, has supplied the following information from its accounting records for the last calendar year: Direct labor cost $495,900 Purchases of direct materials 378,890 Freight-in on materials 7,500 Factory supplies used 18,500 Factory utilities 54,000 Commissions paid 78,983 Factory supervision and indirect labor 165,000 Advertising 145,600 Materials handling 16,900 Work-in-process inventory, January 1 201,000 Work-in-process inventory, December 31 117,400 Direct materials inventory, January 1 37,200 Direct materials inventory, December 31...
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...
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 $216,380 $270,480 Work in process 389,480 367,850 Finished goods 374,340 375,970 Advertising expense $183,660 Depreciation expense-office equipment 25,970 Depreciation expense-factory equipment 34,890 Direct labor 416,540 Heat, light, and power-factory 13,790 Indirect labor 48,690 Materials purchased 408,420 Office salaries expense 142,540 Property taxes-factory 11,360 Property taxes-headquarters building 23,530 Rent expense-factory 19,200 Sales...
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 $469,710 $587,140 Work in process 845,480 798,510 Finished goods 812,600 816,120 Advertising expense $398,670 Depreciation expense-office equipment 56,370 Depreciation expense-factory equipment 75,740 Direct labor 904,200 Heat, light, and power-factory 29,940 Indirect labor 105,690 Materials purchased 886,580 Office salaries expense 309,420 Property taxes-factory 24,660 Property taxes-headquarters building 51,080 Rent expense-factory 41,690 Sales...
Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories January 1 January 31 Materials $196,000 $176,400 Work in process 135,240 121,720 Finished goods 99,960 118,190 Direct labor $352,800 Materials purchased during January 376,320 Factory overhead incurred during January: Indirect labor 37,630 Machinery depreciation 22,740 Heat, light, and power 7,840 Supplies 6,270 Property taxes 5,490 Miscellaneous costs 10,190 a. Prepare a cost of goods...
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 $249,680 $314,600 Work in process 449,420 427,860 Finished goods 431,950 437,290 $213,610 Advertising expense Depreciation expense-office equipment Depreciation expense-factory equipment Direct labor Heat, light, and power-factory Indirect labor Materials purchased Office salaries expense Property taxes-factory Property taxes-headquarters building Rent expense-factory 30,200 140,580 484,480 16,040 56,630 475,050 165,790 13,210 27,370 22,340 2,224,220...
Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company The following information is available for Shanika Company for 20Y6: Inventories Materials Work in process 768,240 Finished goods January 1 December 31 $537,770 731,370 747,500 $426,800 738,360 Advertising expense Depreciation expense-office equipment Depreciation expense-factory equipment Direct labor Heat, light, and power-factory Indirect labor Materials purchased Office salaries expense Property taxes-factory Property taxes-headquarters building Rent expense-factory Sales Sales salaries expense Supplies-factory Miscellaneous costs-factory $365,150 51,630 69,370 828,170 27,430...
Cost of Goods Sold, Cost of Goods Manufactured Timbuk 3 Company has the following information for March: $21,000 54,250 35,000 Cost of direct materials used in production Direct labor Factory overhead Work in process inventory, March 1 Work in process inventory, March 31 Finished goods inventory, March 1 Finished goods inventory, March 31 87,500 92,750 36,750 42,000 a. For March, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured. Timbuk 3...
Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories Material:s Work in process Finished goods January 1 $180,000 334,600 675,000 January 31 $145,500 290,700 715,000 Direct labor Materials purchased during January Factory overhead incurred during January: $2,260,000 1,375,000 115,000 90,000 55,000 18,500 10,000 33,100 a. Prepare a cost of goods manufactured statement for January. Indirect labor Machinery depreciation Heat, light, and power Supplies...
Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Disksan Manufacturing Company for the month ended January 31 are as follows: Inventories January 31 Materials January 1 $228,000 157,320 116,280 $198,360 136,870 Work in process Finished goods 132,900 $410,400 Direct labor Materials purchased during January Factory overhead incurred during January: 437,760 Indirect labor 43,780 26,450 Machinery depreciation Heat, light, and power 9,120 Supplies 7,300 Property taxes 6,380 Miscellaneous costs 11,860 a. Prepare a cost of goods...