Homework Answers
| Cost of Goods Manufactured Schedule | |||
| For the Year Ended June 30, 2020 | |||
| Work in Process, July 1, 2019 | $24,600 | ||
| Direct Materials | |||
| Raw Materials Inventory, July 1, 2019 | $54,600 | ||
| Raw Materials Purchases | $98,100 | ||
| Total Raw Materials Available for Use | $152,700 | ||
| Less: Raw Materials Inventory, June 30, 2020 | $44,200 | ||
| Direct Materials Used | $1,08,500 | ||
| Direct Labor | $1,47,050 | ||
| Manufacturing Overhead: | |||
| Indirect Labor | $25,660 | ||
| Factory Insurance | $4,700 | ||
| Factory Machinery Depreciation | $17,700 | ||
| Factory Utilities | $31,600 | ||
| Plant Manager’s Salary | $65,400 | ||
| Factory Property Taxes | $9,610 | ||
| Factory Repairs | $2500 | ||
| Total Manufacturing Overhead | $1,57,170 | ||
| Total Manufacturing Costs | $4,12,720 | ||
| Total Cost of Work in Process | $4,37,320 | ||
| Less: Work in Process, June 30, 2020 | $29,600 | ||
| Cost of Goods Manufactured | $4,07,720 |
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VAL The following data were taken from the records of Clarkson Company for the fiscal year...
What is wrong here? The following data were taken from the records of Clarkson Company for...
What is wrong here?
The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020. $4,700 Raw Materials Inventory 7/1/19 $54,600 Raw Materials Inventory 6/30/20 44,200 Finished Goods Inventory 7/1/19 9 6,800 Finished Goods Inventory 6/30/2026,300 Work in Process Inventory 7/1/19 24,600 Work in Process Inventory 6/30/20 29,600 Direct Labor 147,050 Indirect Labor 25,660 Accounts Receivable 35,300 Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Plant...
Problem 19-04A a-c (Part Level Submission) (Video) The following data were taken from the records of...
Problem 19-04A a-c (Part Level Submission) (Video) The following data were taken from the records of Sheridan Company for the fiscal year ended June 30, 2020. Raw Materials Inventory 7/1/19 $54,600 Factory Insurance $4,700 Raw Materials Inventory 6/30/20 44,200 Factory Machinery Depreciation 17,700 Finished Goods Inventory 7/1/19 96,800 Factory Utilities 31,600 Finished Goods Inventory 6/30/20 26,300 Office Utilities Expense 8,550 Work in Process Inventory 7/1/19 24,600 Sales Revenue 562,900 Work in Process Inventory 6/30/20 29,600 Sales Discounts 4,600 Direct Labor...
How does the full income statement look like? Prepare an income statement through gross profit. CLARKSON...
How does the full income statement look like?
Prepare an income statement through gross profit. CLARKSON COMPANY (Partial Income Statement For the Year Ended June 30, 2020 , Sales Revenue 562,900 Less : Cost of Goods Sold 432320 Gross Profit 130580 The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020. Raw Materials Inventory 7/1/19 $54,600 Factory Insurance Raw Materials Inventory 6/30/20 44,200 Factory Machinery Depreciation Finished Goods Inventory 7/1/19 9...
Problem 14-04A The following data were taken from the records of Clarkson Company for the fiscal...
Problem 14-04A The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020. Raw Materials Inventory 7/1/19 $50,400 Factory Insurance $5,500 Raw Materials Inventory 6/30/20 39,900 Factory Machinery Depreciation 18,100 Finished Goods Inventory 7/1/19 99,600 Factory Utilities 30,100 Finished Goods Inventory 6/30/20 20,600 Office Utilities Expense 8,650 Work in Process Inventory 7/1/19 27,300 Sales Revenue 562,100 Work in Process Inventory 6/30/20 20,100 Sales Discounts 5,300 Direct Labor 148,350 Plant Manager's Salary 64,900...
The following data were taken from the records of Clarkson Company for the fiscal year ended...
The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2C Raw Materials Inventory 7/1/19 Raw Materials Inventory 6/30/20 Finished Goods Inventory 7/1/19 Finished Goods Inventory 6/30/20 Work in Process Inventory 7/1/19 Work in Process Inventory 6/30/20 Direct Labor Indirect Labor Accounts Receivable $57,500 41,500 96,300 22,100 21,300 28,200 142,650 26,760 29,900 Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Plant Manager's Salary Factory Property Taxes...
The following data were taken from the records of Clarkson Company for the fiscal year ended...
The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020. Raw Materials Inventory 7/1/19 Raw Materials Inventory 6/30/20 Finished Goods Inventory 7/1/19 Finished Goods Inventory 6/30/20 Work in Process Inventory 7/1/19 Work in Process Inventory 6/30/20 Direct Labor Indirect Labor Accounts Receivable $48,900 46,900 97,700 21,600 25,200 23,700 142,050 25,360 35,500 Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Plant Manager's Salary Factory Property Taxes...
Problem 14-04A The following data were taken from the records of Clarkson Company for the fiscal...
Problem 14-04A The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020. Raw Materials Inventory 7/1/19 Raw Materials Inventory 6/30/20 Finished Goods Inventory 7/1/19 Finished Goods Inventory 6/30/20 Work in Process Inventory 7/1/19 Work in Process Inventory 6/30/20 Direct Labor Indirect Labor Accounts Receivable $51,500 47,900 98,100 27,700 25,200 21,000 145,850 25,260 35,200 Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Plant Manager's Salary Factory...
The following data were taken from the records of Clarkson Company for the fiscal year ended...
The following data were taken from the records of Clarkson
Company for the fiscal year ended June 30, 2020.
Raw Materials Inventory 7/1/19
$53,000
Factory Insurance
$4,800
Raw Materials Inventory 6/30/20
48,400
Factory Machinery Depreciation
18,600
Finished Goods Inventory 7/1/19
97,400
Factory Utilities
30,500
Finished Goods Inventory 6/30/20
23,100
Office Utilities Expense
8,750
Work in Process Inventory 7/1/19
28,000
Sales Revenue
563,100
Work in Process Inventory 6/30/20
27,100
Sales Discounts
5,000
Direct Labor
143,150
Plant Manager’s Salary
64,200
Indirect Labor...
The following data were taken from the records of Clarkson Company for the fiscal year ended...
The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2017 Raw Materials Inventory 7/1/16 Raw Materials Inventory 6/30/17 Finished Goods Inventory 7/1/16 Finished Goods Inventory 6/30/17 Work in Process Inventory 7/1/16 Work in Process Inventory 6/30/17 Direct Labor Indirect Labor Accounts Receivable $51,500 47,900 98,100 27,700 25,200 21,000 145,850 25,260 35,200 Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Plant Manager's Salary Factory Property Taxes...
The following data were taken from the records of Clarkson Company for the fiscal year ended...
The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020 Raw Materials Inventory 7/1/19 Raw Materials Inventory 6/30/20 Finished Goods Inventory 7/1/19 Finished Goods Inventory 6/30/20 Work in Process Inventory 7/1/19 Work in Process Inventory 6/30/20 Direct Labor Indirect Labor Accounts Receivable $58,100 46,600 99,700 21,900 21,200 29,400 147,550 25,360 28,000 Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Plant Manager's Salary Factory Property Taxes...
What is wrong here?
The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020. $4,700 Raw Materials Inventory 7/1/19 $54,600 Raw Materials Inventory 6/30/20 44,200 Finished Goods Inventory 7/1/19 9 6,800 Finished Goods Inventory 6/30/2026,300 Work in Process Inventory 7/1/19 24,600 Work in Process Inventory 6/30/20 29,600 Direct Labor 147,050 Indirect Labor 25,660 Accounts Receivable 35,300 Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Plant...
How does the full income statement look like?
Prepare an income statement through gross profit. CLARKSON COMPANY (Partial Income Statement For the Year Ended June 30, 2020 , Sales Revenue 562,900 Less : Cost of Goods Sold 432320 Gross Profit 130580 The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020. Raw Materials Inventory 7/1/19 $54,600 Factory Insurance Raw Materials Inventory 6/30/20 44,200 Factory Machinery Depreciation Finished Goods Inventory 7/1/19 9...
Problem 14-04A The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020. Raw Materials Inventory 7/1/19 $50,400 Factory Insurance $5,500 Raw Materials Inventory 6/30/20 39,900 Factory Machinery Depreciation 18,100 Finished Goods Inventory 7/1/19 99,600 Factory Utilities 30,100 Finished Goods Inventory 6/30/20 20,600 Office Utilities Expense 8,650 Work in Process Inventory 7/1/19 27,300 Sales Revenue 562,100 Work in Process Inventory 6/30/20 20,100 Sales Discounts 5,300 Direct Labor 148,350 Plant Manager's Salary 64,900...
The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2C Raw Materials Inventory 7/1/19 Raw Materials Inventory 6/30/20 Finished Goods Inventory 7/1/19 Finished Goods Inventory 6/30/20 Work in Process Inventory 7/1/19 Work in Process Inventory 6/30/20 Direct Labor Indirect Labor Accounts Receivable $57,500 41,500 96,300 22,100 21,300 28,200 142,650 26,760 29,900 Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Plant Manager's Salary Factory Property Taxes...
The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020. Raw Materials Inventory 7/1/19 Raw Materials Inventory 6/30/20 Finished Goods Inventory 7/1/19 Finished Goods Inventory 6/30/20 Work in Process Inventory 7/1/19 Work in Process Inventory 6/30/20 Direct Labor Indirect Labor Accounts Receivable $48,900 46,900 97,700 21,600 25,200 23,700 142,050 25,360 35,500 Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Plant Manager's Salary Factory Property Taxes...
Problem 14-04A The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020. Raw Materials Inventory 7/1/19 Raw Materials Inventory 6/30/20 Finished Goods Inventory 7/1/19 Finished Goods Inventory 6/30/20 Work in Process Inventory 7/1/19 Work in Process Inventory 6/30/20 Direct Labor Indirect Labor Accounts Receivable $51,500 47,900 98,100 27,700 25,200 21,000 145,850 25,260 35,200 Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Plant Manager's Salary Factory...
The following data were taken from the records of Clarkson
Company for the fiscal year ended June 30, 2020.
Raw Materials Inventory 7/1/19
$53,000
Factory Insurance
$4,800
Raw Materials Inventory 6/30/20
48,400
Factory Machinery Depreciation
18,600
Finished Goods Inventory 7/1/19
97,400
Factory Utilities
30,500
Finished Goods Inventory 6/30/20
23,100
Office Utilities Expense
8,750
Work in Process Inventory 7/1/19
28,000
Sales Revenue
563,100
Work in Process Inventory 6/30/20
27,100
Sales Discounts
5,000
Direct Labor
143,150
Plant Manager’s Salary
64,200
Indirect Labor...
The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2017 Raw Materials Inventory 7/1/16 Raw Materials Inventory 6/30/17 Finished Goods Inventory 7/1/16 Finished Goods Inventory 6/30/17 Work in Process Inventory 7/1/16 Work in Process Inventory 6/30/17 Direct Labor Indirect Labor Accounts Receivable $51,500 47,900 98,100 27,700 25,200 21,000 145,850 25,260 35,200 Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Plant Manager's Salary Factory Property Taxes...
The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020 Raw Materials Inventory 7/1/19 Raw Materials Inventory 6/30/20 Finished Goods Inventory 7/1/19 Finished Goods Inventory 6/30/20 Work in Process Inventory 7/1/19 Work in Process Inventory 6/30/20 Direct Labor Indirect Labor Accounts Receivable $58,100 46,600 99,700 21,900 21,200 29,400 147,550 25,360 28,000 Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Plant Manager's Salary Factory Property Taxes...
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