![Exercise 3-6 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement LO3-3] The following data from the just completed year are taken from the accounting records of Mason Company Sales Direct labor cost Raw material purchases selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs s 657,8e8 196 , еее s 42,eee s 207,ee0 5 229,eee beginningnig Inventories Raw materials Work in process Finished goods s $,7e 21,000 71,eee, s 25,800 Required: 1. Prepare a schedule of cost of goods manufactured. Assume al raw materials used in production were direct materials 2Prepare a schedule of cost of goods sold. Assume that the companys underapplied or overapplied overhead is closed to Cost of Goods Sold. 3. Prepare an income statement. Complete this question by entering your answers in the tabs below](http://img.homeworklib.com/questions/82265100-55f2-11eb-8e31-c35f56feb440.png?x-oss-process=image/resize,w_560)
Homework Answers
Solution:
(1) : preparation of statement of cost of goods Manufactured
(2) : preparation of statement of cost of goods sold
(3) : preparation of statement of Net operating income
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Exercise 3-6 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement LO3-3]...
Exercise 3-6 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3)...
Exercise 3-6 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3) The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 659,000 $ 86,000 $ 132,000 $ 104,000 $ 43,000 $207,000 $ 225,000 Inventories Raw materials Work in process Finished goods Beginning Ending $ 8,100...
help plz Exercise 3-6 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income...
help plz
Exercise 3-6 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement (LO3-3] The following data from the just completed year are taken from the accounting records of Mason Company Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 654,00 $ 85,00 $ 134,000 $ 103,eee $ 40,000 $ 207, $ 229,000 Inventories Raw materials Work in process Finished goods Beginning...
Exercise 3-6 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3]...
Exercise 3-6 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3] The following data from the just completed year are taken from the accounting records of Mason Company: Sales $ 655,000 Direct labor cost $ 82,000 Raw material purchases $ 139,000 Selling expenses $ 101,000 Administrative expenses $ 48,000 Manufacturing overhead applied to work in process $ 204,000 Actual manufacturing overhead costs $ 228,000 Inventories Beginning Ending Raw materials $ 8,000 $ 10,800 Work...
Exercise 3-6 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3]...
Exercise 3-6 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3] The following data from the just completed year are taken from the accounting records of Mason Company: Sales $ 650,000 Direct labor cost $ 87,000 Raw material purchases $ 136,000 Selling expenses $ 104,000 Administrative expenses $ 46,000 Manufacturing overhead applied to work in process $ 200,000 Actual manufacturing overhead costs $ 226,000 Inventories Beginning Ending Raw materials $ 8,800 $ 11,000 Work...
Exercise 3-6 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3]...
Exercise 3-6 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3] The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $524,000 $ 70,000 $118,000 $140,000 $ 63,000 $ 90,000 $ 80,000 Inventories Raw materials Work in process Finished goods Beginning $ 7,000 $ 10,000 $...
Exercise 3-6 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement (LO3-3)...
Exercise 3-6 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement (LO3-3) The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 657,000 $ 82,000 $ 134, Bee $ 184,000 $ 43,000 $ 200,000 $ 220,000 Inventories Raw materials Work in process Finished goods Beginning $...
Problem 3-13 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3]...
Problem 3-13 Schedules of Cost of Goods Manufactured and Cost of
Goods Sold; Income Statement [LO3-3]
Superior Company provided the following data for the year ended
December 31 (all raw materials are used in production as direct
materials):please
help me with steps in detail! thank you!
Problem 3-13 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3] Superior Company provided the following data for the year ended December 31 (all raw materials are used in...
Problem 3-13 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3]...
Problem 3-13 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3] Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): $ 220,000 $ 269,000 Selling expenses Purchases of raw materials Direct labor Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost $ 158,000 $ 370,000 $ 359,000 Inventory balances at the beginning and end of the year were...
Problem 3-13 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3]...
Problem 3-13 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3] Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): $ 140,000 $ 290,000 Selling expenses Purchases of raw materials Direct labor Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost $ 100,000 $ 285,000 $ 270,000 Inventory balances at the beginning and end of the year were...
Problem 3-13 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement (LO3-3]...
Problem 3-13 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement (LO3-3] Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): $ 212,000 $ 265,000 Selling expenses Purchases of raw materials Direct labor Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost $ 155,000 $ 370,000 $ 351,000 Inventory balances at the beginning and end of the year were...
Exercise 3-6 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3) The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 659,000 $ 86,000 $ 132,000 $ 104,000 $ 43,000 $207,000 $ 225,000 Inventories Raw materials Work in process Finished goods Beginning Ending $ 8,100...
help plz
Exercise 3-6 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement (LO3-3] The following data from the just completed year are taken from the accounting records of Mason Company Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 654,00 $ 85,00 $ 134,000 $ 103,eee $ 40,000 $ 207, $ 229,000 Inventories Raw materials Work in process Finished goods Beginning...
Exercise 3-6 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3] The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $524,000 $ 70,000 $118,000 $140,000 $ 63,000 $ 90,000 $ 80,000 Inventories Raw materials Work in process Finished goods Beginning $ 7,000 $ 10,000 $...
Exercise 3-6 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement (LO3-3) The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 657,000 $ 82,000 $ 134, Bee $ 184,000 $ 43,000 $ 200,000 $ 220,000 Inventories Raw materials Work in process Finished goods Beginning $...
Problem 3-13 Schedules of Cost of Goods Manufactured and Cost of
Goods Sold; Income Statement [LO3-3]
Superior Company provided the following data for the year ended
December 31 (all raw materials are used in production as direct
materials):please
help me with steps in detail! thank you!
Problem 3-13 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3] Superior Company provided the following data for the year ended December 31 (all raw materials are used in...
Problem 3-13 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3] Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): $ 220,000 $ 269,000 Selling expenses Purchases of raw materials Direct labor Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost $ 158,000 $ 370,000 $ 359,000 Inventory balances at the beginning and end of the year were...
Problem 3-13 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3] Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): $ 140,000 $ 290,000 Selling expenses Purchases of raw materials Direct labor Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost $ 100,000 $ 285,000 $ 270,000 Inventory balances at the beginning and end of the year were...
Problem 3-13 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement (LO3-3] Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): $ 212,000 $ 265,000 Selling expenses Purchases of raw materials Direct labor Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost $ 155,000 $ 370,000 $ 351,000 Inventory balances at the beginning and end of the year were...
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