Homework Answers
| ANGIE'S APPAREL | ||
| Cost of Goods Sold Statement | ||
| For the Month Ended July 31 | ||
| Merchandise inventory, July 1 | $27,000 | |
| Merchandise purchases | $657,000 | |
| Transportation-in | $4,250 | |
| Total cost of goods purchased [$657,000 + $4,250] | $661,250 | |
| Cost of goods available for sale [$27,000 + $661,250] | $688,250 | |
| Merchandise inventory, July 31 | ($27,000) | |
| Cost of goods sold [$688,250 - $27,000] | $661,250 | |
.
.
| ANGIE'S APPAREL | |
| Income Statment | |
| For the Month Ended July 31 | |
| Sales revenue | $948,000 |
| Cost of goods sold [Refer statement of cost of goods sold] | $661,250 |
| Gross margin [$948,000 - $661,250] | $286,750 |
| Marketing and Administrative cost [$73,600 + $43,900 + $13,600 + $2,650] | $133,750 |
| Operating profit [$286,750 - $133,750] | $153,000 |
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The cost accountant for Angie's Apparel has compiled the following information for last month's operations. $...
The cost accountant for Angie's Apparel has compiled the following information for last month's operations: Administrative...
The cost accountant for Angie's Apparel has compiled the following information for last month's operations: Administrative costs Merchandise inventory, July 1 Merchandise inventory, July 31 Merchandise purchases Sales commissions Sales revenue Store rent Store utilities Transportation-in costs $ 73,600 25,000 24,000 640,000 43,900 948,000 13,700 2,150 4,250 Required Prepare an income statement with a supporting cost of goods sold statement. ANGIE'S APPAREL Income Statement For the Month Ended July 31 ANGIE'S APPAREL Cost of Goods Sold Statement For the Month...
University Electronics has provided the following Information for last year. Sales revenue $4,860,000 Store rent 226,000...
University Electronics has provided the following Information for last year. Sales revenue $4,860,000 Store rent 226,000 Store utilities 129,000 Administrative costs 296,000 Sales commissions 638,000 Merchandise purchases 2,810,000 Transportation in costs 108,000 Merchandise inventory, March 1 191,000 Merchandise inventory, 216,000 February 28 Required: 1. Prepare a cost of goods sold statement for last year. 2. Prepare an Income statement for last year. Complete this question by entering your answers in the tabs below. COGS Stmt Income Stmt Prepare a cost...
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yolo windows, a manufacturer of windows for commercial
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Consider the following information for Huntersville Inc. for the fiscal year ended December 31. Depreciation expense-administrative...
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er 2 - Homework Saved Yolo Windows, a manufacturer of windows for commercial buildings, reports the...
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Absorption and Variable Costing Income Statements During the first month of operations ended July 31, Yosan...
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How do you calculate Sales for this income statement with the information pictured? Problem 3-13 (Algo)...
How do you calculate Sales for this income statement with the
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Problem 3-13 (Algo) Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement (LO3-3] Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): Selling expenses Purchases of raw materials Direct labor Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost $ 211,000 $ 268,000 2 $ 157,000...
The cost accountant for Angie's Apparel has compiled the following information for last month's operations: Administrative costs Merchandise inventory, July 1 Merchandise inventory, July 31 Merchandise purchases Sales commissions Sales revenue Store rent Store utilities Transportation-in costs $ 73,600 25,000 24,000 640,000 43,900 948,000 13,700 2,150 4,250 Required Prepare an income statement with a supporting cost of goods sold statement. ANGIE'S APPAREL Income Statement For the Month Ended July 31 ANGIE'S APPAREL Cost of Goods Sold Statement For the Month...
University Electronics has provided the following Information for last year. Sales revenue $4,860,000 Store rent 226,000 Store utilities 129,000 Administrative costs 296,000 Sales commissions 638,000 Merchandise purchases 2,810,000 Transportation in costs 108,000 Merchandise inventory, March 1 191,000 Merchandise inventory, 216,000 February 28 Required: 1. Prepare a cost of goods sold statement for last year. 2. Prepare an Income statement for last year. Complete this question by entering your answers in the tabs below. COGS Stmt Income Stmt Prepare a cost...
Yolo Windows, a manufacturer of windows for commercial buildings, reports the following account information for last year (all costs are in thousands of dollars). $ 83 113 1,660 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 supplies Marketing costs Property taxes on factory Sales revenue Information on December 31 (Ending):...
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...
yolo windows, a manufacturer of windows for commercial
buildings, reports the following account information for last year
(all costs are in thousands of dollars)
Uw ICldus library Problem 2-61 (Algo) Prepare Statements for a Manufacturing Company (LO 2-2, 4) Yolo Windows, a manufacturer of windows for commercial buildings, reports the following account information for last year (all costs are in thousands of dollars). $ 82 117 1,620 Information on January 1 (Beginning): Direct materials inventory Work-in-process inventory Finished goods inventory...
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...
Consider the following information for Fair Wind Yachts Inc.. a manufacturer of sailboat rigging, blocks, and cordage. Advertising expenses Depreciation expense-administrative office Depreciation expense-plant and equipment Depreciation expense-delivery trucks Materials inventory, beginning Materials inventory, ending Direct materials purchases 155,5e0 77,288 325, 500 48,850 21,500 26,25e 437,508 534, eee 280,eee 56,10e 45, 200 35, 300 24,200 38,750 99,650 133,10e 79,650 33,750 41,200 327,75e 2,999, eee Direct labor Indirect labor Finished goods inventory, beginning Finished goods inventory, ending Insurance on plant Heat...
er 2 - Homework Saved Yolo Windows, a manufacturer of windows for commercial buildings, reports the following account information for last year (all costs are in thousands of dollars) $ 88 115 1,610 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 supplies Marketing costs Property taxes on factory Sales revenue...
Absorption and Variable Costing Income Statements During the first month of operations ended July 31, Yosan Inc, manufactured 11,700 flat panel televisions, of which 10,800 were sold. Operating data for the month are summarired as follows: Sales $1,890,000 Manufacturing costs: Direct materials $959.400 Direct labor 292.500 Variable manufacturing cost 245,700 Faced manufacturing cost 128.700 1,626,300 Selling and administrative expenses Variable $151,200 Fixed 69,600 220,800 Required: 1. Prepare an income statement based on the absorption costing concept. Yosan Inc. Absorption Costing...
How do you calculate Sales for this income statement with the
information pictured?
Problem 3-13 (Algo) Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement (LO3-3] Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): Selling expenses Purchases of raw materials Direct labor Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost $ 211,000 $ 268,000 2 $ 157,000...
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