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COGM, COGS, IS-H2 From the following information for The Smith Manufacturing Company for 2015 prepare: a)...
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...
Consider the following information for Huntersville Inc. for the fiscal year ended December 31. Depreciation expense-administrative...
Consider the following information for Huntersville Inc. for the fiscal year ended December 31. Depreciation expense-administrative office Depreciation expense-plant and equipment Direct labor wages Materials Inventory, Dec. 31 Materials Inventory, Jan. 1 Direct materials purchases Finished goods inventory, Dec. 31 Finished goods inventory, Jan. 1 Heat, light, and power-plant Indirect labor Property taxes-plant Sales representatives' salaries Sales revenue Factory supervisor's salary Supplies-administrative office Supplies-plant Work-in-process inventory, Dec. 31 Work-in-process inventory, Jan. 1 38,65e 95,500 561,600 40,250 28,500 202,500 24,400 16,900...
Complete this question by entering your answers in the tabs below. Income Statement COGS Schedule COGM...
Complete this question by entering your answers in the tabs below. Income Statement COGS Schedule COGM Schedule Prepare a schedule of cost of goods manufactured. _ $ Superior Company Schedule of Cost Goods Manufactured Direct materials: Beginning raw materials inventory Add: Purchases of raw materials Total raw materials available Less: Ending raw materials inventory Raw materials used in production Direct labor Manufacturing overhead applied to work in process Total manufacturing costs Add: Beginning work in process inventory 52,000 265,000 317,000...
prepare a statement of cost of goods manufactured Statement of Cost of Goods Manufactured The following...
prepare a statement of cost of
goods manufactured
Statement of Cost of Goods Manufactured The following data relate to the Denver Company's operations for the year ended December 31, 20XX: Direct materials purchases ............................ $100,000 Indirect material usage........................ 10,000 Indirect labor........ 10,000 Direct labor.. 300,000 Sales salaries ...................... 100,000 Administrative salaries.................. 50,000 Factory water and electricity ................. 20,000 Advertising expenses....................... 60,000 Depreciation-sales and general office ............. 40,000 Depreciation-factory ........... 50,000 Beginning Inventories: Direct materials. $20,000 Work-in-process .... 60,000 Finished goods.....
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 $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 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 $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...
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...
P19-4B The following data were taken from the records of Goodman Manufacturing Company for the year...
P19-4B The following data were taken from the records of Goodman Manufacturing Company for the year ended December 31. 2012 $7.400 Raw Materials Factory Insurance Inventory 1/1/12 $47.000 Factory Machinery Raw Materials Depreciation Inventory 12/31/12 44.200 Factory Utilities Finished Goods Office Utilities Expense Inventory 1/1/12 85,000 Sales Finished Goods Sales Discounts Inventory 12/31/12 67,800 Plant Manager's Salary Work in Process Factory Property Taxes Inventory 1/1/12 9,500 Factory Repairs Work in Process Raw Materials Purchases Inventory 12/31/128,000 Cash Direct Labor 145.100...
I need helo preparing the COGS statement and an income statement for this problem. Yolo Windows,...
I need helo preparing the COGS statement and an income
statement for this problem.
Yolo Windows, a manufacturer of windows for commercial buildings, reports the following account information for last year (all costs are in thousands of dollars). $ 82 111 1,630 Information on January 1 (Beginning): Direct materials inventory Work-in-process inventory Finished goods inventory Information for the year Administrative costs Direct labor Direct materials purchases Factory and machine depreciation Factory supervision Factory utilities Indirect factory labor Indirect materials and...
Templar Company, a manufacturing firm, has supplied the following information from its accounting records for the...
Templar Company, a manufacturing firm, has supplied the following information from its accounting records for the month of November: Factory supplies used $10,000 Depreciation on factory building 7,000 Salary of company controller 20,000 Factory janitorial costs 5,000 Marketing and promotion 4,500 Direct labor cost 12,000 Purchases of raw materials 15,000 Finished Goods Inventory, Nov. 1 2,250 Finished Goods Inventory, Nov. 30 3,750 Work in Process Inventory, Nov. 1 4,200 Work in Process Inventory, Nov. 30 2,750 Materials Inventory, Nov. 1...
Consider the following information for Huntersville Inc. for the fiscal year ended December 31. Depreciation expense-administrative office Depreciation expense-plant and equipment Direct labor wages Materials Inventory, Dec. 31 Materials Inventory, Jan. 1 Direct materials purchases Finished goods inventory, Dec. 31 Finished goods inventory, Jan. 1 Heat, light, and power-plant Indirect labor Property taxes-plant Sales representatives' salaries Sales revenue Factory supervisor's salary Supplies-administrative office Supplies-plant Work-in-process inventory, Dec. 31 Work-in-process inventory, Jan. 1 38,65e 95,500 561,600 40,250 28,500 202,500 24,400 16,900...
Complete this question by entering your answers in the tabs below. Income Statement COGS Schedule COGM Schedule Prepare a schedule of cost of goods manufactured. _ $ Superior Company Schedule of Cost Goods Manufactured Direct materials: Beginning raw materials inventory Add: Purchases of raw materials Total raw materials available Less: Ending raw materials inventory Raw materials used in production Direct labor Manufacturing overhead applied to work in process Total manufacturing costs Add: Beginning work in process inventory 52,000 265,000 317,000...
prepare a statement of cost of
goods manufactured
Statement of Cost of Goods Manufactured The following data relate to the Denver Company's operations for the year ended December 31, 20XX: Direct materials purchases ............................ $100,000 Indirect material usage........................ 10,000 Indirect labor........ 10,000 Direct labor.. 300,000 Sales salaries ...................... 100,000 Administrative salaries.................. 50,000 Factory water and electricity ................. 20,000 Advertising expenses....................... 60,000 Depreciation-sales and general office ............. 40,000 Depreciation-factory ........... 50,000 Beginning Inventories: Direct materials. $20,000 Work-in-process .... 60,000 Finished 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 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...
P19-4B The following data were taken from the records of Goodman Manufacturing Company for the year ended December 31. 2012 $7.400 Raw Materials Factory Insurance Inventory 1/1/12 $47.000 Factory Machinery Raw Materials Depreciation Inventory 12/31/12 44.200 Factory Utilities Finished Goods Office Utilities Expense Inventory 1/1/12 85,000 Sales Finished Goods Sales Discounts Inventory 12/31/12 67,800 Plant Manager's Salary Work in Process Factory Property Taxes Inventory 1/1/12 9,500 Factory Repairs Work in Process Raw Materials Purchases Inventory 12/31/128,000 Cash Direct Labor 145.100...
I need helo preparing the COGS statement and an income
statement for this problem.
Yolo Windows, a manufacturer of windows for commercial buildings, reports the following account information for last year (all costs are in thousands of dollars). $ 82 111 1,630 Information on January 1 (Beginning): Direct materials inventory Work-in-process inventory Finished goods inventory Information for the year Administrative costs Direct labor Direct materials purchases Factory and machine depreciation Factory supervision Factory utilities Indirect factory labor Indirect materials and...
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