Homework Answers
Cost of goods manufactured=Beginning work in process + manufacturing cost incurred- ending work in process
Cost of goods sold = Beginning finished goods + cost of goods manufacture- ending inventory
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Margaret Rosenthal, accountant for Russell Manufacturing Company, prepared the following income statement for the quarter ending...
Margaret Rosenthal, accountant for Russell Manufacturing Company, prepared the following income statement for the quarter ending...
Margaret Rosenthal, accountant for Russell Manufacturing Company, prepared the following income statement for the quarter ending December 31, 2016. Sales $ 1,428,100 Purchases of materials (1) 251,690 Payroll (2) 268,700 Advertising 38,100 Administrative travel 28,700 Manufacturing utilities 51,600 Facility rental (3) 85,000 Depreciation (4) 65,700 Sales commissions 52,000 Annual insurance (manufacturing) 51,000 Office utilities 23,500 Management salaries (5) 399,000 Net income $ 113,110 Notes: (1) 80% of the materials were direct (2) 70% direct labour; 30% indirect labour (3)...
value: 10.00 points Margaret Rosenthal, accountant for Russell Manufacturing Company, prepared the following income statement for...
value: 10.00 points Margaret Rosenthal, accountant for Russell Manufacturing Company, prepared the following income statement for the quarter ending December 31, 2016. Sales Purchases of materials (1) Payroll (2) Advertising Administrative travel Manufacturing utilities Facility rental (3) Depreciation (4) Sales commissions Annual insurance (manufacturing) Office utilities Management salaries (5) Net income $ 1,378,600 246,740 266,900 37,200 27,800 49,800 92,000 63,900 43,000 42,000 22,600 390,000 96,660 Notes: (1) 80% of the materials were direct (2) 70% direct labour; 30% indirect labour...
value: 10.00 points Margaret Rosenthal, accountant for Russell Manufacturing Company, prepared the following income statement for...
value: 10.00 points Margaret Rosenthal, accountant for Russell Manufacturing Company, prepared the following income statement for the quarter ending December 31, 2016. Sales Purchases of materials (1) Payroll (2) Advertising Administrative travel Manufacturing utilities Facility rental (3) Depreciation (4) Sales commissions Annual insurance (manufacturing) Office utilities Management salaries (5) Net income $ 1,378,600 246,740 266,900 37,200 27,800 49,800 92,000 63,900 43,000 42,000 22,600 390,000 96,660 Notes: (1) 80% of the materials were direct (2) 70% direct labour; 30% indirect labour...
Howard Manufacturing Company had the following account balances for the quarter ending March 31, unless otherwise...
Howard Manufacturing Company had the following account balances for the quarter ending March 31, unless otherwise noted: Work-in-process inventory (January 1) $ 140,400 Work-in-process inventory (March 31) 171,000 Finished goods inventory (January 1) 540,000 Finished goods inventory (March 31) 510,000 Direct materials used 420,000 Indirect materials used 84,000 Direct manufacturing labor 480,000 Indirect manufacturing labor 186,000 Property taxes on manufacturing plant building 28,800 Salespersons' company vehicle costs 12,000 Depreciation of manufacturing equipment 264,000 Depreciation of office equipment 123,600 Miscellaneous plant...
Please check my answers. Problem 2-17 Schedule of Cost of Goods Manufactured; Income Statement; Cost Behaviour...
Please check my answers.
Problem 2-17 Schedule of Cost of Goods Manufactured; Income Statement; Cost Behaviour (LO1, LO2, LO3, LO4, LO5] The following information pertains to the most recent quarter at Precious Production Limited. Purchases of raw materials Raw materials inventory, beginning Raw materials inventory, ending Depreciation, factory Insurance, factory Direct labour Maintenance, factory Administrative expenses Sales Utilities, factory Supplies, factory Selling expenses Indirect labour Work in process inventory, beginning Work in process inventory, ending Finished goods inventory, beginning Finished...
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...
An accountant for Lisbon Company, prepared the following amounts to include on the financial statements for...
An accountant for Lisbon Company, prepared the following amounts to include on the financial statements for the period ending September 30, 2021. Include calculation/formula. Sales Purchases of materials Manufacturing labor Advertising Administrative travel Manufacturing utilities Facility rental Depreciation Sales commissions Insurance Office utilities Management salaries 1,200,000 250,000 270,000 37,000 27,000 49,000 90,000 60,000 31,000 40,000 25,000 380,000 • The purchase of materials included 20% indirect materials. 40% of the manufacturing labor was for indirect manufacturing labor The facility was used...
Chapter 2 - Learning Activity 1 1) Eschliman Manufacturing Company had the following account balances for...
Chapter 2 - Learning Activity 1 1) Eschliman Manufacturing Company had the following account balances for the quarter ending September 30, unless otherwise noted: Amortization of manufacturing equipment Amortization of office equipment Direct manufacturing labour $88,000 41,200 160,000- Direct materials used 126,000 Finished goods inventory (July 1) Finished goods inventory (September 30) General office expenses 180,000 170,000 101,800 Indirect manufacturing labour 62,000 Indirect materials used 28,000 Marketing distribution costs Miscellaneous plant overhead 10,000' 45,000 Plant utilities 30,800 Property taxes on...
PART A Pat Fike, accountant for Nozama Company, prepared the following amounts to include on the...
PART A Pat Fike, accountant for Nozama Company, prepared the following amounts to include on the financial statements for the period ending August 31, 20XX. Sales S1,200,000 Purchases of materials 250,000 Manufacturing labor 270,000 Advertising 37.000 Administrative travel 27,000 Manufacturing utilities 49,000 Facility rental 90,000 Depreciation 60,000 Sales commissions 31,000 Insurance 40,000 Office utilities 25,000 Management salaries 380,000 • The purchase of materials included 20% indirect materials. • 40% of the manufacturing labor was for indirect manufacturing labor • The...
Please help me answer the question 3,4,6,and show the step The following information pertains to the...
Please help me answer the question 3,4,6,and show the
step
The following information pertains to the most recent quarter at Precious Production Limited Purchases of raw materials Raw materials inventory, beginning Raw materials inventory, ending Depreciation, factory Insurance, factory Direct labour Maintenance, factory Administrative expenses Sales Utilities, factory Supplies, factory Selling expenses Indirect labour Work in process inventory, beginning Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending 367,500 42,000 70,500 180,500 20,500 243,500 122,000 284,000...
value: 10.00 points Margaret Rosenthal, accountant for Russell Manufacturing Company, prepared the following income statement for the quarter ending December 31, 2016. Sales Purchases of materials (1) Payroll (2) Advertising Administrative travel Manufacturing utilities Facility rental (3) Depreciation (4) Sales commissions Annual insurance (manufacturing) Office utilities Management salaries (5) Net income $ 1,378,600 246,740 266,900 37,200 27,800 49,800 92,000 63,900 43,000 42,000 22,600 390,000 96,660 Notes: (1) 80% of the materials were direct (2) 70% direct labour; 30% indirect labour...
value: 10.00 points Margaret Rosenthal, accountant for Russell Manufacturing Company, prepared the following income statement for the quarter ending December 31, 2016. Sales Purchases of materials (1) Payroll (2) Advertising Administrative travel Manufacturing utilities Facility rental (3) Depreciation (4) Sales commissions Annual insurance (manufacturing) Office utilities Management salaries (5) Net income $ 1,378,600 246,740 266,900 37,200 27,800 49,800 92,000 63,900 43,000 42,000 22,600 390,000 96,660 Notes: (1) 80% of the materials were direct (2) 70% direct labour; 30% indirect labour...
Please check my answers.
Problem 2-17 Schedule of Cost of Goods Manufactured; Income Statement; Cost Behaviour (LO1, LO2, LO3, LO4, LO5] The following information pertains to the most recent quarter at Precious Production Limited. Purchases of raw materials Raw materials inventory, beginning Raw materials inventory, ending Depreciation, factory Insurance, factory Direct labour Maintenance, factory Administrative expenses Sales Utilities, factory Supplies, factory Selling expenses Indirect labour Work in process inventory, beginning Work in process inventory, ending Finished goods inventory, beginning Finished...
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...
An accountant for Lisbon Company, prepared the following amounts to include on the financial statements for the period ending September 30, 2021. Include calculation/formula. Sales Purchases of materials Manufacturing labor Advertising Administrative travel Manufacturing utilities Facility rental Depreciation Sales commissions Insurance Office utilities Management salaries 1,200,000 250,000 270,000 37,000 27,000 49,000 90,000 60,000 31,000 40,000 25,000 380,000 • The purchase of materials included 20% indirect materials. 40% of the manufacturing labor was for indirect manufacturing labor The facility was used...
PART A Pat Fike, accountant for Nozama Company, prepared the following amounts to include on the financial statements for the period ending August 31, 20XX. Sales S1,200,000 Purchases of materials 250,000 Manufacturing labor 270,000 Advertising 37.000 Administrative travel 27,000 Manufacturing utilities 49,000 Facility rental 90,000 Depreciation 60,000 Sales commissions 31,000 Insurance 40,000 Office utilities 25,000 Management salaries 380,000 • The purchase of materials included 20% indirect materials. • 40% of the manufacturing labor was for indirect manufacturing labor • The...
Please help me answer the question 3,4,6,and show the
step
The following information pertains to the most recent quarter at Precious Production Limited Purchases of raw materials Raw materials inventory, beginning Raw materials inventory, ending Depreciation, factory Insurance, factory Direct labour Maintenance, factory Administrative expenses Sales Utilities, factory Supplies, factory Selling expenses Indirect labour Work in process inventory, beginning Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending 367,500 42,000 70,500 180,500 20,500 243,500 122,000 284,000...
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