Homework Answers
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| 3 | Balance sheet. | |
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| Note: Other than Balance sheet items will appear either in | ||
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The following items are found in the ledger and accompanying data for Zed Manufacturing Company. Indicate...
Question 9 The following items are found in the ledger and accompanying data for Zed Manufacturing...
Question 9
The following items are found in the ledger and accompanying
data for Zed Manufacturing Company.
Indicate which items appear on the balance sheet as at December 31
by marking an “X” beside it.
1.
Direct Labour
X
2.
Raw Materials Inventory
(1/1)
X
3.
Work in Process Inventory
(12/31)
X
4.
Finished Goods Inventory
(1/1)
X
5.
Prepaid Insurance
X
6.
Work in Process Inventory
(1/1)
X
7.
Finished Goods Inventory
(12/31)
X
8.
Factory Maintenance
Salaries
X...
FULL SCREEN PRINTER VERSION BACK NEXT its accounting records, it prepares the following schedule and Indicate...
FULL SCREEN PRINTER VERSION BACK NEXT its accounting records, it prepares the following schedule and Indicate in which schedule or financial statement(s) different cost items will appear. E14.15 (LO 3) University Company produces collegiate apparel. F financial statements on a yearly basis. a. Cost of goods manufactured schedule. b. Income statement c. Balance sheet. The following items are found in its ledger and accompanying data. 1. Direct labor 2. Raw materials inventory, 1/1 3. Work in process inventory, 12/31 4....
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...
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...
An analysis of the accounts of KAZ Manufacturing Pty Ltd reveals the following manufacturing cost data...
An analysis of the accounts of KAZ Manufacturing Pty Ltd reveals the following manufacturing cost data for the month ended 30 June 2019. Beginning Ending $ 14000 10000 16 000 $22 200 18000 12 000 Inventories: Raw materials Work in process Finished goods Costs incurred: Raw materials purchases Direct labour Manufacturing overhead Specific overhead costs: Indirect labour Factory insurance Machinery depreciation Machinery repairs Factory utilities Miscellaneous factory costs 128 000 100 000 60 000 31 200 8 000 8 000...
please answer fast 1) Logan Products, a small manufacturer, has submitted the items below concerning last...
please answer fast
1) Logan Products, a small manufacturer, has submitted the items below concerning last year's operations. The president's secretary, trying to be helpful, has alphabetized the list. Administrative salaries $ 2,400 Advertising expense 1,200 Depreciation-factory building 800 Depreciation factory equipment 1,600 Depreciation office equipment 180 Direct labour cost 21,900 Raw materials inventory, beginning 2,100 Raw materials inventory, ending 3,200 Finished goods inventory, beginning 46,980 Finished goods inventory, ending 44,410 General liability insurance expense 240 Indirect labour cost 11.800...
An incomplete cost of goods manufactured schedule is presented below for Cepeda Manufacturing Company for the...
An incomplete cost of goods manufactured schedule is presented below for Cepeda Manufacturing Company for the year ended December 2020: Complete the cost of goods manufactured schedule for Cepeda Manufacturing Company. CEPEDA MANUFACTURING COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2020 $212,500 $ 166,000 Work in process (1/1) Direct materials Raw materials inventory(1/1) Raw materials purchases Total raw materials available for use Less: Raw materials inventory (12/31) Direct materials used 17,800 $188,000 Direct labour Manufacturing...
CEPEDA MANUFACTURING COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2020 Work...
CEPEDA MANUFACTURING COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2020 Work in process (1/1) $212,500 Direct materials Raw materials inventory, (1/1) Raw materials purchases Total raw materials available for use Less: Raw materials inventory (12/31) 166,000 17,800 Direct materials used Direct labour Manufacturing overhead $188,000 Indirect labour Factory depreciation Factory utilities Total manufacturing overhead 15,500 36,400 68,000 119,900 Total manufacturing costs Total cost of work in process Less: Work in process (12/31) Cost of goods...
An incomplete cost of goods manufactured schedule is presented below for Cepeda Manufacturing Company for the...
An incomplete cost of goods manufactured schedule is presented
below for Cepeda Manufacturing Company for the year ended December
2020:
Complete the cost of goods manufactured schedule for Cepeda
Manufacturing Company.
Complete the cost of goods
manufactured schedule for Cepeda Manufacturing Company.
CEPEDA MANUFACTURING COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2020 $217,000 Work in process (1/1) Direct materials Raw materials inventory, (1/1) Raw materials purchases 167,000 Total raw materials available for use 18,000 Less:...
The following cost and inventory data are taken from the accounting records of Mason Company for...
The following cost and inventory data are taken from the accounting records of Mason Company for the year just completed: 10 points eBook Costs incurred: Direct labour cost Purchases of raw materials Indirect labour Maintenance, factory equipment Advertising expense Insurance, factory equipment Sales salaries Rent, factory facilities Supplies Depreciation, office equipment Depreciation, factory equipment $ 70,000 188, age 45.000 6, eee 90,00 1990 58,00 24,000 3,600 17.000 4,500 Print References Beginning of the Year End of the Year Inventories: Raw...
Question 9
The following items are found in the ledger and accompanying
data for Zed Manufacturing Company.
Indicate which items appear on the balance sheet as at December 31
by marking an “X” beside it.
1.
Direct Labour
X
2.
Raw Materials Inventory
(1/1)
X
3.
Work in Process Inventory
(12/31)
X
4.
Finished Goods Inventory
(1/1)
X
5.
Prepaid Insurance
X
6.
Work in Process Inventory
(1/1)
X
7.
Finished Goods Inventory
(12/31)
X
8.
Factory Maintenance
Salaries
X...
FULL SCREEN PRINTER VERSION BACK NEXT its accounting records, it prepares the following schedule and Indicate in which schedule or financial statement(s) different cost items will appear. E14.15 (LO 3) University Company produces collegiate apparel. F financial statements on a yearly basis. a. Cost of goods manufactured schedule. b. Income statement c. Balance sheet. The following items are found in its ledger and accompanying data. 1. Direct labor 2. Raw materials inventory, 1/1 3. Work in process inventory, 12/31 4....
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...
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...
An analysis of the accounts of KAZ Manufacturing Pty Ltd reveals the following manufacturing cost data for the month ended 30 June 2019. Beginning Ending $ 14000 10000 16 000 $22 200 18000 12 000 Inventories: Raw materials Work in process Finished goods Costs incurred: Raw materials purchases Direct labour Manufacturing overhead Specific overhead costs: Indirect labour Factory insurance Machinery depreciation Machinery repairs Factory utilities Miscellaneous factory costs 128 000 100 000 60 000 31 200 8 000 8 000...
please answer fast
1) Logan Products, a small manufacturer, has submitted the items below concerning last year's operations. The president's secretary, trying to be helpful, has alphabetized the list. Administrative salaries $ 2,400 Advertising expense 1,200 Depreciation-factory building 800 Depreciation factory equipment 1,600 Depreciation office equipment 180 Direct labour cost 21,900 Raw materials inventory, beginning 2,100 Raw materials inventory, ending 3,200 Finished goods inventory, beginning 46,980 Finished goods inventory, ending 44,410 General liability insurance expense 240 Indirect labour cost 11.800...
An incomplete cost of goods manufactured schedule is presented below for Cepeda Manufacturing Company for the year ended December 2020: Complete the cost of goods manufactured schedule for Cepeda Manufacturing Company. CEPEDA MANUFACTURING COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2020 $212,500 $ 166,000 Work in process (1/1) Direct materials Raw materials inventory(1/1) Raw materials purchases Total raw materials available for use Less: Raw materials inventory (12/31) Direct materials used 17,800 $188,000 Direct labour Manufacturing...
CEPEDA MANUFACTURING COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2020 Work in process (1/1) $212,500 Direct materials Raw materials inventory, (1/1) Raw materials purchases Total raw materials available for use Less: Raw materials inventory (12/31) 166,000 17,800 Direct materials used Direct labour Manufacturing overhead $188,000 Indirect labour Factory depreciation Factory utilities Total manufacturing overhead 15,500 36,400 68,000 119,900 Total manufacturing costs Total cost of work in process Less: Work in process (12/31) Cost of goods...
An incomplete cost of goods manufactured schedule is presented
below for Cepeda Manufacturing Company for the year ended December
2020:
Complete the cost of goods manufactured schedule for Cepeda
Manufacturing Company.
Complete the cost of goods
manufactured schedule for Cepeda Manufacturing Company.
CEPEDA MANUFACTURING COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2020 $217,000 Work in process (1/1) Direct materials Raw materials inventory, (1/1) Raw materials purchases 167,000 Total raw materials available for use 18,000 Less:...
The following cost and inventory data are taken from the accounting records of Mason Company for the year just completed: 10 points eBook Costs incurred: Direct labour cost Purchases of raw materials Indirect labour Maintenance, factory equipment Advertising expense Insurance, factory equipment Sales salaries Rent, factory facilities Supplies Depreciation, office equipment Depreciation, factory equipment $ 70,000 188, age 45.000 6, eee 90,00 1990 58,00 24,000 3,600 17.000 4,500 Print References Beginning of the Year End of the Year Inventories: Raw...
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