Income Statement Lederman Manufacturing Corporation sold 30,000 units of product for $49 each dur year, 10,000...
Lederman Manufacturing Corporation sold 33,000 units of product for $51 each during 2016. During the year, 11,000 shares of common stock were outstanding. Lederman Manufacturing Corporation Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31,2016 Direct material: Beginning materials inventory $55,000 Cost of materials purchased 275,000 Cost of material available 330,000 Less: Ending materials Inventory 33,000 Total materials used 297,000 Less: Indirect material used 26,400 Direct materials used $270,600 Direct labor 325,600 Manufacturing overhead Indirect...
Income Statement Lederman Manufacturing Corporation sold 21,000 units of product for $42 each during 2016. During the year, 7,000 shares of common stock were outstanding. Lederman Manufacturing Corporation Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31,2016 Direct material: Beginning materials inventory $35,000 Cost of materials purchased 175,000 Cost of material available 210,000 Less: Ending materials Inventory 21,000 Total materials used 189,000 Less: Indirect material used 16,800 Direct materials used $172,200 Direct labor 207,200 Manufacturing...
Lederman Manufacturing Corporation sold 33,000 units of product for $51 each during 2016. During the year, 11,000 shares of common stock were outstanding, ederman Manufacturin Corporation Schedule of Cost of Goods Manufactured and sold For the Year Ended December 31, 2016 Direct materiet Beginning materials inventory $55.000 Cost of materials purchased 275.000 Cost of material available 330.000 Less: Ending materials inventory 33.000 Total materials used 297,000 Less: Indirect material used 26,400 Direct materials used $270.600 Direct labor 325.600 Manufacturing overhead...
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...
Schedule of Cost of Goods Manufactured and sold At December 31,2016, the end of its fiscal year, Lederman Manufacturing Corporation collected the following data for 2016 Materials inventory, January 1 $81,250 Materials inventory, December 31 48,750 Work in process inventory, January 1 97,500 Work in process inventory, December 31 133,250 Finished goods inventory, January 1 165,750 Finished goods inventory, December 31 117,000 Net delivered cost of materials purchased 406,250 Direct labor 481,000 Indirect material 39,000 Indirect labor 120,250 Factory supplies...
Schedule of
Cost of Goods Manufactured and Sold
At December 31,2016, the end of its fiscal year, Lederman
Manufacturing Corporation collected the following data for 2016
Materials inventory, January 1
$81,250
Materials inventory, December 31
48,750
Work in process inventory, January 1
97,500
Work in process inventory, December 31
133,250
Finished goods inventory, January 1
165,750
Finished goods inventory, December 31
117,000
Net delivered cost of materials purchased
406,250
Direct labor
481,000
Indirect material
39,000
Indirect labor
120,250
Factory supplies...
Lederman Manufacturing Corporation (see image) sold 14,000 units of
product for $45 each during 2019. During the year, 5,000 shares of
common stock were outstanding. Prepare an income starement for the
year (ignore income taxes). Calculate earnings per share.
Materials inventory, January 1 Materials inventory. December 31 Work-in-process inventory, January 1 Work-in-process inventory, December 31 Finished goods inventory, January 1 Finished goods inventory, December 31 Net delivered cost of materials purchased. Direct labor. Indirect materials Indirect labor. Factory supplies used....
Support Schedule of Cost of Goods Manufactured and sold At December 31, 2019, the end of its fiscal year, Lederman Manufacturing Corporation collected the following data for 2019: Materials inventory, January 1 $25,000 Materials inventory, December 31 15,000 Work in process inventory, January 1 30,000 Work in process inventory, December 31 41,000 Finished goods inventory, January 1 51,000 Finished goods inventory, December 31 36,000 Net delivered cost of materials purchased 150,000 Direct labor 148,000 Indirect material 12,000 Indirect labor 37,000...
Schedule of Cost of Goods Manufactured and Sold At December 31,2016, the end of its fisal year, Kelly Metal Products Corporation collected the following data for 2016 Materials inventory, January 1 Materials inventory, December 31 Work in process inventory, January 1 Work in process inventory, December 31 Finished goods inventory, January 1 Finished goods inventory, December 31 Net delivered cost of materials purchased Direct labor Indirect material Indirect labor Factory supplies used Factory depreciation Factory repairs and maintenance Selling expenses...
CLUCK HERE TO REVIEW LEARNING OBJECTIVES QUESTION 1 Partially correct Mark 0.20 out of 2.00 Flag question Schedule of Cost of Goods Manufactured and Sold At December 31, 2016, the end of its fiscal year, Lederman Manufacturing Corporation collected the following data for 2016: $25,000 15,000 30,000 Work in process inventory, December 3141,000 51,000 Finished goods inventory, December 31 36,000 Net delivered cost of materials purchased 125,000 148,000 12,000 37,000 10,000 65,000 21,000 62,000 Materials inventory. lanuary 1 Materials inventory,...