Problem 3.35A On November 30, 2020, there was a fire in the factory of Able Manufacturing...
On November 30, 2020, there was a fire in the factory of Able Manufacturing Limited, where you work as the controller. The work in process inventory was completely destroyed, but both the materials and finished goods inventories were undamaged. Able uses normal job-order costing and its fiscal year end is December 31. Selected information for the periods ended October 31, 2020, and November 30, 2020, follows: October 31, 2020 November 30, 2020 $73,350 Supplies (including both direct and indirect materials)...
Problem 3.35A On November 30, 2020, there was a fire in the factory of Able Manufacturing Limited, where you work as the controller. The work in process inventory was completely destroyed, but both the materials and finished goods inventories were undamaged. Able uses normal job-order costing and its fiscal year end is December 31. Selected information for the periods ended October 31, 2020, and November 30, 2020, follows: November 30, 2020 $73,650 October 31, 2020 $79,350 58,975 59,500 573,500 18,360...
Problem from Managerial accounting. Thanks a lot. P3.35A Analyze a job-order cost system and calculate work in process. (LO 3) 20n November 30, 2020, there was a fire in the factory of Able Manufacturing Limited, where you work as the controller. The work in process in- ventory was completely destroyed, but both the ma- terials and finished goods inventories were undam- aged Able uses normal job-order costing and its fiscal year end is December 31. Selected information for the periods...
Managerial Accounting: Spring Northern Illinois Manufacturing provides p inois Manufacturing provides products and services needed to irrigate farms, ommercial properties, and private homes. It has a centrally located factory that the products it markets to retail outlets across the nation. The month of er has just ended and Northern Illinois needs to generate a cost of goods red and cost of goods sold for its income statement. The application of overhead d on direct labor hours. At the beginning of...
Cepeda Corporation has the following cost records for June 2020. Indirect factory labor Direct materials used Work in process, 6/1/20 Work in process, 6/30/20 Finished goods, 6/1/20 Finished goods, 6/30/20 $4,750 21,330 3,400 4,540 6,090 8,470 Factory utilities Depreciation, factory equipment Direct labor Maintenance, factory equipment Indirect materials Factory manager's salary $440 1,590 42,300 1,900 2,140 3,360 Prepare a cost of goods manufactured schedule for June 2020. CEPEDA CORPORATION Cost of Goods Manufactured Schedule For the Year Ended June 30,...
Axteks Corporation has the following cost records for the year ended December 31, 2020: Indirect factory labour $5,180 Direct materials used 252,700 Work in process (1/1/2020) 31,900 Work in process (12/31/2020) 25,800 Finished goods (1/1/2020) 35,300 Finished goods (12/31/2020) 29,200 Factory utilities 41,600 Depreciation, factory equipment 34,800 Direct labour 301,400 Indirect materials 22,300 Factory manager’s salary 63,100 Selling and administrative expenses 348,000 Net sales 1,233,000 Factory machinery rent 42,800 Prepare a cost of goods manufactured schedule for 2020. Axteks Corporation...
Northern Illinois Manufacturing provides products and services needed to irrigate farms, parks, commercial properties, and private homes. It has a centrally located factory that manufactures the products it markets to retail outlets across the nation. The month of November has just ended and Northern Illinois needs to generate a cost of goods manufactured and cost of goods sold for its income statement. The application of overhead is based on direct labor hours. At the beginning of the year, the company...
part B) Cepeda Corporation has the following cost records for June 2020. Indirect factory labor $4,690 Factory utilities $430 Direct materials used 22,410 Depreciation factory equipment 1,770 Work in process, 6/1/20 3,970 Direct labor 42,100 Work in process, 6/30/20 4,410 Maintenance, factory equipment 1,910 2,810 Finished goods, 6/1/20 Finished goods, 6/30/20 5,650 Indirect materials 8,030 Factory manager's salary 3,930 Your Answer Correct Answer Your answer is correct. Prepare a cost of goods manufactured schedule for June 2020. CEPEDA CORPORATION Cost...
Bledsoe Corporation has provided the following data for the month of November: Beginning Ending Raw materials $ 26,700 $ 22,700 Work in process $ 18,700 $ 11,700 Finished Goods $ 49,700 $ 57,700 Additional information: Raw materials purchases $ 73,700 Direct labor cost $ 93,700 Manufacturing overhead cost incurred $ 43,870 Indirect materials included in manufacturing overhead cost incurred $ 4,170 Manufacturing overhead cost applied to Work in Process $ 42,700 Any underapplied or overapplied manufacturing overhead is closed out...
Managerial Accounting. Excel Assignment #2 Spring Northern Illinois Manufacturing provides products and services needed to irrigate farms, parks, commercial properties, and private homes. It has a centrally located factory that manufactures the products it markets to retail outlets across the nation. The month of November has just ended and Northern Illinois needs to generate a cost of goods manufactured and cost of goods sold for its income statement. The application of overhead is based on direct labor hours. At the...