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| Champagne | |||
| Cost of goods manufactured and sold statement | Amount $ | Amount $ | Amount $ |
| Work in process inventory, January 1, 2013 | 18,701.00 | ||
| Cost of direct materials used in production | |||
| Materials inventory, January 1, 2013 | 10,000.00 | ||
| Raw material Purchases | 27,000.00 | ||
| Cost of materials available for use | 37,000.00 | ||
| Less: Materials inventory, December 31, 2013 | (2,720.00) | ||
| Less: Indirect materials | (2,323.00) | ||
| Cost of direct materials used in production | 31,957.00 | ||
| Direct Labor | 30,000.00 | ||
| Manufacturing Overhead | 27,000.00 | ||
| Total Manufacturing costs incurred in 2013 | 88,957.00 | ||
| Total cost of work in process | 107,658.00 | ||
| Less: Work in process inventory, December 31, 2013 | (17,000.00) | ||
| Cost of goods manufactured for the year | 90,658.00 |
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TI LI Champagne of the South, Inc., a manufacturer of bottled sweet tea, had the following...
Champagne of the South, Inc., a manufacturer of bottled sweet tea, had the following beginning and...
Champagne of the South, Inc., a manufacturer of bottled sweet tea, had the following beginning and ending inventories for the year ended December 31, 2013: January 1 December 31 Raw Materials Inventory* $10,000 $1317 Work in Process Inventory $19308 $17,000 Finished Goods Inventory $21,000 $16,500 *Raw Materials Inventory consists of both direct material and indirect material. During the year, direct labor costs of $30,000 were incurred, manufacturing overhead totaled $42,000, materials purchased were $27,000, and selling and administrative costs...
Champagne of the South, Inc., a manufacturer of bottled sweet tea, had the following beginning and...
Champagne of the South, Inc., a manufacturer of bottled sweet tea, had the following beginning and ending inventories for the year ended December 31, 2013: January 1 December 31 Raw Materials Inventory* $10,000 Work in Process Inventory $19,827 Finished Goods Inventory $21,000 *Raw Materials Inventory consists of both direct material and indirect material. $6,837 $17,000 $16,500 During the year, direct labor costs of $30,000 were incurred, manufacturing overhead totaled $42,000, materials purchased were $27,000, and selling and administrative costs were...
Champagne of the South, Inc, a manufacturer of bottled sweet tea, had the following beginning and...
Champagne of the South, Inc, a manufacturer of bottled sweet tea, had the following beginning and ending inventories for the year ended December 31. 2013: January 1 December 31 Raw Materials Inventory Work in Process Inventory $10,000 $19.511 $21,000 $548 $17,000 $16,500 Raw Materials Inventory consists of both direct material and indirect material During the year, direct labor costs of $30.000 were incurred, manufacturing overhead totaled $42.000, materials purchased were $27,000, and selling and administrative costs were $22,000 Champagne sold...
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Cha of the South, Inc., a manufacturer of bottled sweet tea, had the and ending inventories for the vear ended December 31, 2013 January 1 December 31 Raw Materials Inventory Work in Process Inventory Finished Goods Inventory $10,000 $18,63 521,000 6,01 $17,000 516,500 Raw Materials Inventory consists of both direct material and indirect material. During the year, direct labor costs of $30,000 were incurred, manufacturing overhead totaled $42,000, materials purchased were $27,000, and selling and administrative costs were $22,000. Champagne...
Champagne of the South, Inc. is a manufacturer of bottled sweet tea. The company's Raw Materials...
Champagne of the South, Inc. is a manufacturer of bottled sweet tea. The company's Raw Materials Inventory only contains direct materials. $27,000 in Raw Materials were purchased during the year. The ending Raw Materials Inventory was $2,000 higher than the beginning Raw Materials Inventory. The company began the year with $17,000 in its Work in Process Inventory. By year end, the Work in Process Inventory had increased to $18,000. At year end, the company reported $15,600 in its Finished Goods...
Champagne of the South, Inc. is a manufacturer of bottled sweet tea. The company's Raw Materials...
Champagne of the South, Inc. is a manufacturer of bottled sweet tea. The company's Raw Materials Inventory only contains direct materials. $27,000 in Raw Materials were purchased during the year. The ending Raw Materials Inventory was $2,000 higher than the beginning Raw Materials Inventory. The company began the year with $17,000 in its Work in Process Inventory. By year end, the Work in Process Inventory had increased to $18,000. At year end, the company reported $15,600 in its Finished Goods...
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YouTube Drive MİS&C ® KSL CIs AFCU 123 Shows Amazon Figure 2.2 Lonborg Co. had the following beginning and ending inventory balances for the year ended December 31, December 31 end) January 1.(beg) $10,0008,000 $18,000$17,000 $21,000$16,500 Materials Work in Process Finished Goods In addition, direct labor costs of $30,000 were incurred, overhead equaled $42,000, materials purchased were $27,000 and selling and administrative costs were $22,000. Lonborg Co. sold 25,000 units of product during the year at a sales price of...
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Ryde and Rowe Inc. had the following account balances as of January 1. Direct Materials Inventory $ 8,700 Work in Process Inventory 76,500 Finished Goods Inventory 53,000 Manufacturing Overhead 0 During the month of January, all of the following occurred. Direct labor costs were $49,000 for 1,800 hours worked. Direct materials costing $27,000 and indirect materials costing $4,000 were purchased. Sales commissions of $16,500 were earned by the sales force. $22,000 worth of direct materials were used in production. Advertising...
Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the...
Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1. Inventory Classification January 1, 20x1 December 31, 20x1 Raw material $ 60,000 $ 70,000 Work in process 120,000 115,000 Finished goods 140,000 165,000 During 20x1, the company purchased $240,000 of raw material and spent $400,000 on direct labor. Manufacturing overhead costs were as follows: Indirect material $ 10,000 Indirect labor 24,000 Depreciation on plant and equipment 100,000 Utilities 25,000...
Champagne of the South, Inc., a manufacturer of bottled sweet tea, had the following beginning and ending inventories for the year ended December 31, 2013: January 1 December 31 Raw Materials Inventory* $10,000 Work in Process Inventory $19,827 Finished Goods Inventory $21,000 *Raw Materials Inventory consists of both direct material and indirect material. $6,837 $17,000 $16,500 During the year, direct labor costs of $30,000 were incurred, manufacturing overhead totaled $42,000, materials purchased were $27,000, and selling and administrative costs were...
Champagne of the South, Inc, a manufacturer of bottled sweet tea, had the following beginning and ending inventories for the year ended December 31. 2013: January 1 December 31 Raw Materials Inventory Work in Process Inventory $10,000 $19.511 $21,000 $548 $17,000 $16,500 Raw Materials Inventory consists of both direct material and indirect material During the year, direct labor costs of $30.000 were incurred, manufacturing overhead totaled $42.000, materials purchased were $27,000, and selling and administrative costs were $22,000 Champagne sold...
Cha of the South, Inc., a manufacturer of bottled sweet tea, had the and ending inventories for the vear ended December 31, 2013 January 1 December 31 Raw Materials Inventory Work in Process Inventory Finished Goods Inventory $10,000 $18,63 521,000 6,01 $17,000 516,500 Raw Materials Inventory consists of both direct material and indirect material. During the year, direct labor costs of $30,000 were incurred, manufacturing overhead totaled $42,000, materials purchased were $27,000, and selling and administrative costs were $22,000. Champagne...
Champagne of the South, Inc. is a manufacturer of bottled sweet tea. The company's Raw Materials Inventory only contains direct materials. $27,000 in Raw Materials were purchased during the year. The ending Raw Materials Inventory was $2,000 higher than the beginning Raw Materials Inventory. The company began the year with $17,000 in its Work in Process Inventory. By year end, the Work in Process Inventory had increased to $18,000. At year end, the company reported $15,600 in its Finished Goods...
Champagne of the South, Inc. is a manufacturer of bottled sweet tea. The company's Raw Materials Inventory only contains direct materials. $27,000 in Raw Materials were purchased during the year. The ending Raw Materials Inventory was $2,000 higher than the beginning Raw Materials Inventory. The company began the year with $17,000 in its Work in Process Inventory. By year end, the Work in Process Inventory had increased to $18,000. At year end, the company reported $15,600 in its Finished Goods...
YouTube Drive MİS&C ® KSL CIs AFCU 123 Shows Amazon Figure 2.2 Lonborg Co. had the following beginning and ending inventory balances for the year ended December 31, December 31 end) January 1.(beg) $10,0008,000 $18,000$17,000 $21,000$16,500 Materials Work in Process Finished Goods In addition, direct labor costs of $30,000 were incurred, overhead equaled $42,000, materials purchased were $27,000 and selling and administrative costs were $22,000. Lonborg Co. sold 25,000 units of product during the year at a sales price of...
Alhambra Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1 Inventory December 31, 20x1 $ 70,000 January 1, 20x1 Classification Raw material Work in process 60,000 120,000 115,000 Finished goods 150,000 65,000 During 20x1, the company purchased $240,000 of raw material and spent $400,000 for direct labor. Manufacturing overhead costs were as follows $ 9,000 Indirect material Indirect labor Depreciation on plant and 25,000 100,000 25,000 equipment Utilities Other...
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