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Slapshot Company makes ice hockey sticks and sold 1,700 sticks during the month of June at...
Slapshot Company makes ice hockey sticks and sold 1,880 sticks during the month of June at...
Slapshot Company makes ice hockey sticks and sold 1,880 sticks during the month of June at a total cost of $433,000. Each stick sold at a price of $400. Slapshot also incurred two types of selling costs: commissions equal to 10% of the sales priceand other selling expense of $65,000. Administrative expense totaled $53,800. Required: Prepare an income statement for Slapshot for the month of June and calculate the percentage of sales revenue represented by each line of the income...
price of 3400 Slapshot Company makes ice hockey sicks and sold 1.20 sticks during the month...
price of 3400 Slapshot Company makes ice hockey sicks and sold 1.20 sticks during the month of June at a total cost of 436.800 Each ick sold other sing expense of $04.200. Administrative expense stated $52.200 incurred two types of selling costs commissions equal to 10% of the sales price and Resuired Prepare an income statement for Slapshot for the more Slapshot Company makes ice hockey sticks and sold 1.820 sticks during the month of June a other selling expense...
Instructions Slapshot Company makes ice hockey sticks and sold 1,810 sticks during the month of June...
Instructions Slapshot Company makes ice hockey sticks and sold 1,810 sticks during the month of June at a total cost of $380,100. Each stick sold at a price of $380. Slapshot also incurred two types of selling costs: commissions equal to 10% of the sales price and other selling expense of $64,400. Administrative expense totaled $52,800 Required: Prepare an income statement for Slapshot for the month of June and calculate the percentage of sales revenue represented by each line of...
H UULURULUI Cost of Goods Sold Slapshot Company makes ice hockey sticks. During the month of...
H UULURULUI Cost of Goods Sold Slapshot Company makes ice hockey sticks. During the month of June, 1,900 sticks were completed at a cost of goods manufactured of $525,000. Suppose that on June 1, Slapshot had 650 units in finished goods inventory costing $160,000 and on June 30, 930 units in finished goods inventory costing $215,000. 1. Prepare a cost of goods sold statement for the month of June. Slapshot Company Cost of Goods Sold Statement For the Month of...
Staphor Company makes ice hockey s o ld 1.610 during the month of new stalost 30.100....
Staphor Company makes ice hockey s o ld 1.610 during the month of new stalost 30.100. Each apo Sheheherred types of sing i ng totoofthe d Para m income sement e r hem one and the percentage of sweeted by the of the Seetroue Labels Less For the Month of June June Selling expenses Amount Descriptions Administrative expenses Variable commissions Cost of goods manufactured Cos: of goods sold Finished goods inventory Fixed se ing expenses Gross margin Operating income Ooerating...
Cost of Goods Manufactured Slapshot Company makes ice hockey sticks. During the month of June, the...
Cost of Goods Manufactured Slapshot Company makes ice hockey sticks. During the month of June, the company purchased $123,000 of materials. Also during the month of June, Slapshot Company incurred direct labor cost of $161,000 and manufacturing overhead of $212,000. Inventory information is as follows: June 1 June 30 Materials $48,000 $45,000 Work in process 65,000 63,000 Required: 1. Calculate the cost of goods manufactured for the month of June. $ 2. Calculate the cost of one hockey stick assuming...
Cost of Goods Manufactured Slapshot Company makes ice hockey sticks. During the month of June, the...
Cost of Goods Manufactured Slapshot Company makes ice hockey sticks. During the month of June, the company purchased $120,000 of materials. Also during the month of June, Slapshot Company incurred direct labor cost of $173,000 and manufacturing overhead of $224,000. Inventory information is as follows: June 1 June 30 Materials $48,000 $45,000 Work in process 65,000 63,000 Required: 1. Calculate the cost of goods manufactured for the month of June. $ 2. Calculate the cost of one hockey stick assuming...
The following events took place for Chi-Lite Inc. during June 2016, the first month of operations...
The following events took place for Chi-Lite Inc. during June 2016, the first month of operations as a producer of road bikes: • Purchased $396,730 of materials. • Used $343,310 of direct materials in production. • Incurred $294,600 of direct labor wages. • Applied factory overhead at a rate of 74% of direct labor cost. • Transferred $816,250 of work in process to finished goods. • Sold goods with a cost of $797,470. • Sold goods for $1,409,300. • Incurred...
Instructions Jasper Company provided the following information for last year: Costs Amount Sales in units Selling...
Instructions Jasper Company provided the following information for last year: Costs Amount Sales in units Selling price 325,000 $12 $171,000 Direct materials $505,000 Direct labor Manufacturing overhead $110,000 $433,000 Selling expense Administrative expense $869,000 Last year, beginning and ending inventories of work in process and finished goods equaled zero. Required: 1. Calculate the sales revenue for last year. 2. Prepare an income statement for Jasper for last year. Labels and Amount Descriptions Refer to the list below for the exact...
During the first month of operations ended August 31, Kodiak Fridgeration Company manufactured 80,000 mini refrigerators,...
During the first month of operations ended August 31, Kodiak Fridgeration Company manufactured 80,000 mini refrigerators, of which 72,000 were sold. Operating data for the month are summarized as follows: 1 Sales $10,800,000.00 1 Manufacturing costs: Direct materials Direct labor $6,400,000.00 1,600,000.00 1.280,000.00 320,000.00 Variable manufacturing cost 9,600,000.00 Fixed manufacturing cost Selling and administrative expenses: Variable $1,080,000.00 180,000.00 Fixed 1,260,000.00 Required: 1. Prepare an income statement based on the absorption costing concept." 2. Prepare an income statement based on the...
Slapshot Company makes ice hockey sticks and sold 1,880 sticks during the month of June at a total cost of $433,000. Each stick sold at a price of $400. Slapshot also incurred two types of selling costs: commissions equal to 10% of the sales priceand other selling expense of $65,000. Administrative expense totaled $53,800. Required: Prepare an income statement for Slapshot for the month of June and calculate the percentage of sales revenue represented by each line of the income...
price of 3400 Slapshot Company makes ice hockey sicks and sold 1.20 sticks during the month of June at a total cost of 436.800 Each ick sold other sing expense of $04.200. Administrative expense stated $52.200 incurred two types of selling costs commissions equal to 10% of the sales price and Resuired Prepare an income statement for Slapshot for the more Slapshot Company makes ice hockey sticks and sold 1.820 sticks during the month of June a other selling expense...
Instructions Slapshot Company makes ice hockey sticks and sold 1,810 sticks during the month of June at a total cost of $380,100. Each stick sold at a price of $380. Slapshot also incurred two types of selling costs: commissions equal to 10% of the sales price and other selling expense of $64,400. Administrative expense totaled $52,800 Required: Prepare an income statement for Slapshot for the month of June and calculate the percentage of sales revenue represented by each line of...
H UULURULUI Cost of Goods Sold Slapshot Company makes ice hockey sticks. During the month of June, 1,900 sticks were completed at a cost of goods manufactured of $525,000. Suppose that on June 1, Slapshot had 650 units in finished goods inventory costing $160,000 and on June 30, 930 units in finished goods inventory costing $215,000. 1. Prepare a cost of goods sold statement for the month of June. Slapshot Company Cost of Goods Sold Statement For the Month of...
Staphor Company makes ice hockey s o ld 1.610 during the month of new stalost 30.100. Each apo Sheheherred types of sing i ng totoofthe d Para m income sement e r hem one and the percentage of sweeted by the of the Seetroue Labels Less For the Month of June June Selling expenses Amount Descriptions Administrative expenses Variable commissions Cost of goods manufactured Cos: of goods sold Finished goods inventory Fixed se ing expenses Gross margin Operating income Ooerating...
Instructions Jasper Company provided the following information for last year: Costs Amount Sales in units Selling price 325,000 $12 $171,000 Direct materials $505,000 Direct labor Manufacturing overhead $110,000 $433,000 Selling expense Administrative expense $869,000 Last year, beginning and ending inventories of work in process and finished goods equaled zero. Required: 1. Calculate the sales revenue for last year. 2. Prepare an income statement for Jasper for last year. Labels and Amount Descriptions Refer to the list below for the exact...
During the first month of operations ended August 31, Kodiak Fridgeration Company manufactured 80,000 mini refrigerators, of which 72,000 were sold. Operating data for the month are summarized as follows: 1 Sales $10,800,000.00 1 Manufacturing costs: Direct materials Direct labor $6,400,000.00 1,600,000.00 1.280,000.00 320,000.00 Variable manufacturing cost 9,600,000.00 Fixed manufacturing cost Selling and administrative expenses: Variable $1,080,000.00 180,000.00 Fixed 1,260,000.00 Required: 1. Prepare an income statement based on the absorption costing concept." 2. Prepare an income statement based on the...
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