Please assist with the red wrong boxes. Thank you.
Sales revenue | 216500 | |
Cost of goods sold | ||
Finished goods, May 1 | 14000 | |
Cost of goods manufactured | 156500 | |
Cost of goods available for sale | 170500 | |
Less: Finished goods, May 31 | -9600 | |
Cost of goods sold | 160900 | |
Gross profit | 55600 | |
Please assist with the red wrong boxes. Thank you. At May 31, 2020, the accounts of...
At May 31, 2020, the accounts of Lopez Company show the following. 1. May 1 inventories-finished goods $14,000, work in process $17,600, and raw materials $8,400. 2. May 31 inventories-finished goods $9,600, work in process $18,000, and raw materials $8,000. 3. Debit postings to work in process were direct materials $65,100, direct labor $51,600, and manufacturing overhead applied $40,200. (Assume that overhead applied was equal to overhead incurred.) 4. Sales revenue totaled $216,500. Prepare a condensed cost of goods manufactured...
At May 31, 2020, the accounts of Lopez Company show the following. 1. 2. 3. May 1 inventories-finished goods $15,000, work in process $16,900, and raw materials $9,300. May 31 inventories-finished goods $9,900, work in process $17,100, and raw materials $7,300. Debit postings to work in process were direct materials $64,500, direct labor $52,400, and manufacturing overhead applied $42,700. (Assume that overhead applied was equal to overhead incurred.) Sales revenue totaled $216,500. 4. Prepare a condensed cost of goods manufactured...
At May 31, 2020, the accounts of Lopez Company show the following. 1. 2. 3. May 1 inventories-finished goods $14,300, work in process $15,100, and raw materials $8,900. May 31 inventories-finished goods $9,600, work in process $16,100, and raw materials $7,600. Debit postings to work in process were direct materials $62,800, direct labor $53,100, and manufacturing overhead applied $42,300.(Assume that overhead applied was equal to overhead incurred.) Sales revenue totaled $216,200. 4. (a) Prepare a condensed cost of goods manufactured...
At May 31, 2020, the accounts of Lopez Company show the following. 1. 2. 3. May 1 inventories-finished goods $14,800, work in process $17,600, and raw materials $8,600. May 31 inventories-finished goods $9,600, work in process $17,000, and raw materials $8,000. Debit postings to work in process were direct materials $64,300, direct labor $51,400, and manufacturing overhead applied $42,100. (Assume that overhead applied was equal to overhead incurred.) Sales revenue totaled $217,000. 4. Prepare a condensed cost of goods manufactured...
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At May 31, 2020, the accounts of Sunland Company show the following. 1. May 1 inventories-finished goods $13,000, work in process $17,400, and raw materials $8,500. 2. May 31 inventories-finished goods $9,700, work in process $16,500, and raw materials $7,500. 3. Debit postings to work in process were direct materials $64,100, direct labor $52,800, and manufacturing overhead applied $40,400. (Assume that overhead applied was equal to overhead incurred.) 4. Sales revenue totaled...
At May 31, 2020, the accounts of Concord Company show the following. 1. May 1 inventories-finished goods $13,800, work in process $17,200, and raw materials $9,100. 2. May 31 inventories-finished goods $9,800, work in process $18,600, and raw materials $8,000. 3. Debit postings to work in process were direct materials $63,600, direct labor $51,800, and manufacturing overhead applied $43,100. (Assume that overhead applied was equal to overhead incurred.) 4. Sales revenue totaled $216,900. Prepare a condensed cost of goods manufactured...
Exercise 15-9 At May 31, 2017, the accounts of Lopez Company show the following. 1. May 1 inventories-finished goods $14,800, work in process $17,600, and raw materials $8,600. 2. May 31 inventories-finished goods $9,600, work in process $17,000, and raw materials $8,000. 3. Debit postings to work in process were direct materials $64,300, direct labor $51,400, and manufacturing overhead applied $42,100. 4. Sales revenue totaled $217,000. Prepare a condensed cost of goods manufactured schedule. LOPEZ COMPANY Cost of Goods Manufactured...
Exercise 20-09 a-c (Part Level Submission) At May 31, 2020, the accounts of Crane Company show the following 1. May 1 Inventories-finished goods $14,400, work in process $17,400, and raw materials $9,000 2. May 31 inventories-finished goods $9,600, work in process $16,800, and raw materials $8,200. 3. Debit postings to work in process were direct materials $65,400, direct labor $51,900, and manufacturing overhead applied $42,400. (Assume that overhead applied was equal to overhead incurred.) 4. Sales revenue totaled $217,000. (a)...
At May 31, 2017, the accounts of Lopez Company show the following 1. May 1 inventories - finished goods $12,600, work in process $14,700 a 2. May 31 inventories-finished goods $9,500, work in process, $15,900, and raw nd raw materials $8.200 materials $7,100 Debit postings to work in process were direct materials, 562.400, direct labor $50,0o0 and manufacturing overhead applied $40,000 4. Sales revenue totaled $215,000. Instructions (a) Prepare a condensed cost of goods manufactured schedule (b) Prepare an income...
Exercise 15-9
At May 31, 2017, the accounts of Lopez Company show the
following.
1.
May 1 inventories—finished goods $14,800, work in process
$17,600, and raw materials $8,600.
2.
May 31 inventories—finished goods $9,600, work in process
$17,000, and raw materials $8,000.
3.
Debit postings to work in process were direct materials
$64,300, direct labor $51,400, and manufacturing overhead applied
$42,100.
4.
Sales revenue totaled $217,000.
Prepare a condensed cost of goods manufactured schedule. LOPEZ COMPANY Cost of Goods Manufactured...