Homework Answers
| MARIGOLD COMPANY | ||
| COST OF GOODS MANUFACTURED SCHEDULE | ||
| $ | $ | |
| Work in process inventory, January 1 | 15,170.00 | |
| Direct materials: | ||
| Raw materials inventory, January 1 | 25,330.00 | |
| Add: Raw materials purchases | 152,300.00 | |
| Raw materials available for use | 177,630.00 | |
| Less: Raw materials inventory, January 31 | (33,190.00) | |
| Direct materials used | 144,440.00 | |
| Direct labor | 223,050.00 | |
| Manufacturing overhead | 183,600.00 | |
| Total manufacturing costs | 551,090.00 | |
| Total cost of work in process | 566,260.00 | |
| Less: Work in process inventory, January 31 | (19,680.00) | |
| Cost of goods manufactured | 585,940.00 | |
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The following information is available for Marigold Company. January 1, 2017 2017 December 31, 2017 Raw...
The following information is available for Swifty Company. January 1, 2017 2017 December 31, 2017 Raw...
The following information is available for Swifty Company. January 1, 2017 2017 December 31, 2017 Raw materials inventory $24,010 $32,140 20,240 Work in process inventory 17,050 Finished goods inventory 30,430 25,020 Materials purchased $153,770 Direct labor 222,040 Manufacturing overhead 184,810 Sales revenue 905,270 Cost of Goods Manufactured Schedule
The following information is available for Aikman Company. January 1, 2017 2017 December 31, 2017 Raw...
The following information is available for Aikman
Company.
January 1, 2017
2017
December 31, 2017
Raw materials inventory
$21,240
$32,930
Work in process inventory
16,990
18,070
Finished goods inventory
30,180
24,300
Materials purchased
$154,190
Direct labor
224,280
Manufacturing overhead
184,560
Sales revenue
903,230
Compute cost of goods manufactured.
Aikman Company
Cost of Goods Manufactured Schedule
Prepare an income statement through gross profit.
AIKMAN COMPANY
Income Statement (Partial)
Show the presentation of the ending inventories on the December
31, 2017, balance...
The following information is available for Aikman Company. January 1, 2017 2017 December 31, 2017 Raw...
The following information is available for Aikman Company. January 1, 2017 2017 December 31, 2017 Raw materials inventory $21,000 $30,000 Work in process inventory 13,500 17,200 Finished goods inventory 27,000 21,000 Materials purchased $150,000 Direct labor 220,000 Manufacturing overhead 180,000 Sales revenue 910,000 Compute cost of goods manufactured. Aikman Company Cost of Goods Manufactured Schedule Prepare an income statement through gross profit. AIKMAN COMPANY Income Statement (Partial) Show the presentation of the ending inventories on the December 31, 2017, balance...
The following information is available for Aikman Company January 1, 2017 $25,760 17,120 27,190 2017 December...
The following information is available for Aikman Company January 1, 2017 $25,760 17,120 27,190 2017 December 31,2017 $ 32,660 18,650 22,380 Raw materials inventory Work in process inventory Finished goods inventory Materials purchased Direct labor Manufacturing overhead Sales revenue $154,290 225,040 181,220 902,490 Compute cost of goods manufactured. Aikman Company Cost of Goods Manufactured Schedule
The following information is available for Aikman Company. January 1, 20172017December 31, 2017 Raw materials inventory...
The following information is available for Aikman Company. January 1, 20172017December 31, 2017 Raw materials inventory Work in process inventory Finished goods inventory Materials purchased Direct labor Manufacturing overhead Sales revenue $26,010 18,560 28,900 $34,130 19,620 24,050 $155,770 224,700 182,460 905,040 Compute cost of goods manufactured.
January 1, 2017 2017 December 31, 2017 Raw materials inventory $24.630 $32,120 Work in process inventory...
January 1, 2017 2017 December 31, 2017 Raw materials inventory $24.630 $32,120 Work in process inventory 17,070 18,650 29,770 22,440 Finished goods inventory Materials purchased $154,230 Direct labor 223.580 Manufacturing overhead 183.680 901,360 Sales revenue Compute cost of goods manufactured. Sheffield Company Cost of Goods Manufactured Schedule Raw Materials Inventory, 12/31
The following information is available for Aikman Company. 2017 January 1, 2017 $25,300 16,490 28,040 December...
The following information is available for Aikman Company. 2017 January 1, 2017 $25,300 16,490 28,040 December 31, 2017 $35,600 18,570 25,130 Raw materials inventory Work in process inventory Finished goods inventory Materials purchased Direct labor Manufacturing overhead Sales revenue $152,070 223,570 181,050 904,680 Compute cost of goods manufactured. Aikman Company Cost of Goods Manufactured Schedule e Textbook and Media Assistance Used e Textbook Prepare an income statement through gross profit. AIKMAN COMPANY Income Statement (Partial) e Textbook and Media Show...
The following information is available for Riverbed Company. January 1, 2017 2017 December 31, 20...
The following information is available for Riverbed
Company.
January 1, 2017
2017
December 31, 2017
Raw materials inventory
$25,160
$35,610
Work in process inventory
15,070
18,280
Finished goods inventory
27,770
23,410
Materials purchased
$154,800
Direct labor
223,070
Manufacturing overhead
182,060
Sales revenue
905,590
(a)
Compute cost of goods manufactured.
Riverbed Company
Cost of Goods Manufactured Schedule
Cost
of Goods ManufacturedDirect LaborDirect MaterialsDirect Materials
UsedManufacturing OverheadMaterials Available for UseRaw Materials
Inventory, 1/1Raw Materials Inventory, 12/31Materials
PurchasedTotal Cost of Work-in-ProcessTotal Manufacturing
CostsWork-in-Process,...
E14-14 The following information is available for Aikman Company. January 1, 2017 2017 December 31, 2017...
E14-14 The following information is available for Aikman Company. January 1, 2017 2017 December 31, 2017 Raw materials inventory $21,000 $30,000 Work in process inventory 13,500 17,200 Finished goods inventory 27,000 21,000 Materials purchased $150,000 Direct labor 220,000 Manufacturing overhead 180,000 Sales revenue 910,000 Instructions (a) Compute cost of goods manufactured. (b) Prepare an income statement through gross profit. (c) Show the presentation of the ending inventories on the December 31, 2017, balance sheet. (d) How would the income statement...
E14-14 The following information is available for Aikman Company. January 1, 2017 2017 December 31, 2017...
E14-14 The following information is available for Aikman Company. January 1, 2017 2017 December 31, 2017 Raw materials inventory $21,000 $30,000 Work in process inventory 13,500 17,200 Finished goods inventory 27,000 21,000 Materials purchased $150,000 Direct labor 220,000 Manufacturing overhead 180,000 Sales revenue 910,000 Instructions (a) Compute cost of goods manufactured. ome statement through gross profit. (c) Show the presentation of the ending inventories on the December 31, 2017, balance sheet. (d) How would the income statement and balance sheet...
The following information is available for Swifty Company. January 1, 2017 2017 December 31, 2017 Raw materials inventory $24,010 $32,140 20,240 Work in process inventory 17,050 Finished goods inventory 30,430 25,020 Materials purchased $153,770 Direct labor 222,040 Manufacturing overhead 184,810 Sales revenue 905,270 Cost of Goods Manufactured Schedule
The following information is available for Aikman
Company.
January 1, 2017
2017
December 31, 2017
Raw materials inventory
$21,240
$32,930
Work in process inventory
16,990
18,070
Finished goods inventory
30,180
24,300
Materials purchased
$154,190
Direct labor
224,280
Manufacturing overhead
184,560
Sales revenue
903,230
Compute cost of goods manufactured.
Aikman Company
Cost of Goods Manufactured Schedule
Prepare an income statement through gross profit.
AIKMAN COMPANY
Income Statement (Partial)
Show the presentation of the ending inventories on the December
31, 2017, balance...
The following information is available for Aikman Company January 1, 2017 $25,760 17,120 27,190 2017 December 31,2017 $ 32,660 18,650 22,380 Raw materials inventory Work in process inventory Finished goods inventory Materials purchased Direct labor Manufacturing overhead Sales revenue $154,290 225,040 181,220 902,490 Compute cost of goods manufactured. Aikman Company Cost of Goods Manufactured Schedule
The following information is available for Aikman Company. January 1, 20172017December 31, 2017 Raw materials inventory Work in process inventory Finished goods inventory Materials purchased Direct labor Manufacturing overhead Sales revenue $26,010 18,560 28,900 $34,130 19,620 24,050 $155,770 224,700 182,460 905,040 Compute cost of goods manufactured.
January 1, 2017 2017 December 31, 2017 Raw materials inventory $24.630 $32,120 Work in process inventory 17,070 18,650 29,770 22,440 Finished goods inventory Materials purchased $154,230 Direct labor 223.580 Manufacturing overhead 183.680 901,360 Sales revenue Compute cost of goods manufactured. Sheffield Company Cost of Goods Manufactured Schedule Raw Materials Inventory, 12/31
The following information is available for Aikman Company. 2017 January 1, 2017 $25,300 16,490 28,040 December 31, 2017 $35,600 18,570 25,130 Raw materials inventory Work in process inventory Finished goods inventory Materials purchased Direct labor Manufacturing overhead Sales revenue $152,070 223,570 181,050 904,680 Compute cost of goods manufactured. Aikman Company Cost of Goods Manufactured Schedule e Textbook and Media Assistance Used e Textbook Prepare an income statement through gross profit. AIKMAN COMPANY Income Statement (Partial) e Textbook and Media Show...
The following information is available for Riverbed
Company.
January 1, 2017
2017
December 31, 2017
Raw materials inventory
$25,160
$35,610
Work in process inventory
15,070
18,280
Finished goods inventory
27,770
23,410
Materials purchased
$154,800
Direct labor
223,070
Manufacturing overhead
182,060
Sales revenue
905,590
(a)
Compute cost of goods manufactured.
Riverbed Company
Cost of Goods Manufactured Schedule
Cost
of Goods ManufacturedDirect LaborDirect MaterialsDirect Materials
UsedManufacturing OverheadMaterials Available for UseRaw Materials
Inventory, 1/1Raw Materials Inventory, 12/31Materials
PurchasedTotal Cost of Work-in-ProcessTotal Manufacturing
CostsWork-in-Process,...
E14-14 The following information is available for Aikman Company. January 1, 2017 2017 December 31, 2017 Raw materials inventory $21,000 $30,000 Work in process inventory 13,500 17,200 Finished goods inventory 27,000 21,000 Materials purchased $150,000 Direct labor 220,000 Manufacturing overhead 180,000 Sales revenue 910,000 Instructions (a) Compute cost of goods manufactured. (b) Prepare an income statement through gross profit. (c) Show the presentation of the ending inventories on the December 31, 2017, balance sheet. (d) How would the income statement...
E14-14 The following information is available for Aikman Company. January 1, 2017 2017 December 31, 2017 Raw materials inventory $21,000 $30,000 Work in process inventory 13,500 17,200 Finished goods inventory 27,000 21,000 Materials purchased $150,000 Direct labor 220,000 Manufacturing overhead 180,000 Sales revenue 910,000 Instructions (a) Compute cost of goods manufactured. ome statement through gross profit. (c) Show the presentation of the ending inventories on the December 31, 2017, balance sheet. (d) How would the income statement and balance sheet...
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