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The adjusted trial balance for Rochester Electronies, Inc. on November 30, the end of its firsat month of operation, is as tollows Rochester Electronics, Inc. Trial Balance November 30, 2016 Cash Accounts Receivable $21,800 16,200 13,900 Materials. .。.. Building. Accumulated Depreciation-Building 7,400 $ 3,000 2,200 Accumulated Depreciation-Mach and Equip. Accounts Payable Payroll Capital Stock 8,900 422,550 68,300 42,450 Factory Overhead... Selling and Administrative Expenses 15,200 $504,950 $504,950 The general ledger reveals the following additio O Type here to search
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Answer #1

Note the question does not include the following additional information (assumed as below)

The general ledger reveals the following additional data:
a. There were no beginning inventories.
b. Materials purchases during the period were $33,000.
c. Direct labor cost was $18,500.
d. Factory overhead costs were as follows:
Indirect materials......................................................$ 1,400
Indirect labor............................................................. 4,300
Depreciation-building.............................................. 3,000
Depreciation -machinery and equipment.................. 2,200
Utilities..................................................................... 2,750

Answer

Rochester Electronics, Inc. Statement of Cost of Goods Manufactured For the Month Ended November 30, 2016 Direct materials Inventory,November 1 Add Purchases 33,000 33,000 7.400 25,600 1.400 Total cost of available materials Less Inventory, November 1 Cost of materials used Less Indirect materials used Cost of direct materials used Direct labor Factory overhead: 24 200 18,500 Indirect materials Indirect labor Depreciation of building depreciation of machinery and equipment.. Utilities Total factory overhead 1,400 4300 3,000 2,200 2,750 13,650 56,350 Cost of good s manufactured during the month Rochester Electronics, Inc. Income Statement For the Month Ended November 30, 2016 Sales 68.300 Cost of goods sold Finished goods inventory, November 1 Add cost of goods manufactured Goods available for sale 56,350 56,350 13,900 Less finished goods inventory, November 30 Gross profit on sales Selling and administrative expenses Net income 42,450 25,850 15,200 10,650 Rochester Electronics, Inc. Balance Sheet November 30, 2016 Assets Current assets: Cash Accounts receivable 21,800 16,200 Finished goods Work in process Materials 13,900 7.400 Total current assets 59,300 Plant and equipment Building S 300,000 3,000 88,000 2,200 Less accumulated depreciation 297000 Machinery and equipment Less accumulated depreciation 85,800 Total plant and equipment Total assets $442,100 Liabilities and Stockholders Equity Current liabilities Accounts payable 8,900 Stockholders equity Capital stoclk Retained eamings $422,550 10,650 Total stockholders equity Total liabilities and stockholders equity 433,200 $ 442,100

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