Using the below information from Pennington Corp., prepare a schedule of cost of goods manufactured and...
Using the below information from Pennington Corp., prepare a schedule of cost of goods manufactured and a schedule of cost of goods sold. Assume Pennington closed underapplied or overapplied Overhead to Cost of Goods Sold.
Sales $500,000
Direct Labor $125,000
Raw Material Purchases $300,000
Selling Expense $ 30,000
Administrative Expenses $125,000
Man OH applied to WIP $145,000
Actual Man OH $150,000
Inventories: Beginning Ending
Raw Materials $15,000 $16,000
Work in Process $25,000 $15,000
Finished Goods $10,000 $12,000
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Using the below information from Pennington Corp., prepare a
schedule of cost of goods manufactured and...
1. Prepare a schedule of cost of goods manufactured for the month. 2. Prepare a schedule...
1. Prepare a schedule of cost of goods manufactured for the
month.
2. Prepare a schedule of cost of goods sold for the month.
Assume the underapplied or overapplied overhead is closed to Cost
of Goods Sold.
Primare Corporation has provided the following data concerning last month's manufacturing operations Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Underapplied overhead $ 30,000 $4,900 58,500 ş 88,500 $ 4,170 Inventories Raw...
Required: 1. Prepare a schedule of cost of goods manufactured for the month. 2. Prepare a...
Required: 1. Prepare a schedule of cost of goods manufactured for the month. 2. Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold. ook Ceny WUI $30,000 Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Underapplied overhead $58,700 $87,700 $ 4,040 ook Inventories Raw materials Work in process Finished goods Beginning $ 11,900 $...
Required: 1. Prepare a schedule of cost of goods manufactured for the month. 2. Prepare a...
Required:
1. Prepare a schedule of cost of goods manufactured for the
month.
2. Prepare a schedule of cost of goods sold for the month.
Assume the underapplied or overapplied overhead is closed to Cost
of Goods Sold.
Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials used in production Direct labor Manufacturing overhead applied to work in process Underapplied overhead $32,000 $ 4,850 $58, 200 $88,700 $ 4,180 Inventories Raw...
Exercise 3-3 Schedules of Cost of Goods Manufactured and Cost of Goods Sold (LO3-3] Primare Corporation...
Exercise 3-3 Schedules of Cost of Goods Manufactured and Cost of Goods Sold (LO3-3] Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Underapplied overhead $ 30,000 $ 5,000 $ 58,000 $ 87,000 $ 4,000 Inventories Raw materials Work in process Finished goods Beginning Ending $ 12,000 $18,000 $ 56,000 $ 65,000 $ 35,000 $ 42,000 ods Required:...
Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied...
Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold. Primare Corporation Schedule of Cost of Goods Sold Beginning finished goods inventory Add: Cost of goods manufactured Cost of goods available for sale Less: Ending finished goods inventory Unadjusted cost of goods sold Add: Underapplied overhead Adjusted cost of goods sold Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw...
Exercise 3-3 Schedules of Cost of Goods Manufactured and Cost of Goods Sold (LO3-3] Primare Corporation...
Exercise 3-3 Schedules of Cost of Goods Manufactured and Cost of Goods Sold (LO3-3] Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Underapplied overhead $30,000 $ 4,710 $59,800 $ 87,100 $ 4,100 Inventories Raw materials Work in process Finished goods Beginning $ 10,700 $ 54,500 $ 33,000 Ending $ 19,300 $ 68, 400 $ 43,300 Required: 1....
required:1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production...
required:1. Prepare a schedule of cost of goods manufactured.
Assume all raw materials used in production were direct
materials.
2. Prepare a schedule of cost of goods sold. Assume that the
company's underapplied or overapplied overhead is closed to Cost of
Goods Sold.
3. Prepare an income statement.
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...
Exercise 3-3 Schedules of Cost of Goods Manufactured and Cost of Goods Sold (LO3-3] Primare Corporation...
Exercise 3-3 Schedules of Cost of Goods Manufactured and Cost of Goods Sold (LO3-3] Primare Corporation has provided the following data concerning last month's manufacturing operations. points Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Underapplied overhead $30,000 $ 4,790 $58,400 $88,200 $ 4,040 eBook Print Inventories Raw materials Work in process Finished goods Beginning $ 10,980 $ 54,200 $ 34,500 Ending $ 18,400 $ 66,100 $ 42,000 References...
prepare schedules of cost of goods manufactured and cost of goods sold and an income statement...
prepare schedules of cost of goods manufactured and cost of
goods sold and an income statement
Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): 217.000 266,000 Selling expenses Purchases of raw materials Direet labor Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost 157.000 365.000 $ 354.000 Inventory balances at the beginning and end of the year were as follows: Ray Baterials...
Exercise 3-3 (Algo) Schedules of Cost of Goods Manufactured and Cost of Goods Sold [LO3-3] Primare...
Exercise 3-3 (Algo) Schedules of Cost of Goods Manufactured and Cost of Goods Sold [LO3-3] Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials used in production Direct labor Manufacturing overhead applied to work in process Underapplied overhead $30,000 $ 4,840 $58,300 $88,700 $ 4,100 Inventories Raw materials Work in process Finished goods Beginning $ 11,600 $ 54,600 $ 33,700 Ending $ 18,900 $ 68,200 $ 42,900 Required: 1. Prepare a...
1. Prepare a schedule of cost of goods manufactured for the
month.
2. Prepare a schedule of cost of goods sold for the month.
Assume the underapplied or overapplied overhead is closed to Cost
of Goods Sold.
Primare Corporation has provided the following data concerning last month's manufacturing operations Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Underapplied overhead $ 30,000 $4,900 58,500 ş 88,500 $ 4,170 Inventories Raw...
Required: 1. Prepare a schedule of cost of goods manufactured for the month. 2. Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold. ook Ceny WUI $30,000 Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Underapplied overhead $58,700 $87,700 $ 4,040 ook Inventories Raw materials Work in process Finished goods Beginning $ 11,900 $...
Required:
1. Prepare a schedule of cost of goods manufactured for the
month.
2. Prepare a schedule of cost of goods sold for the month.
Assume the underapplied or overapplied overhead is closed to Cost
of Goods Sold.
Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials used in production Direct labor Manufacturing overhead applied to work in process Underapplied overhead $32,000 $ 4,850 $58, 200 $88,700 $ 4,180 Inventories Raw...
Exercise 3-3 Schedules of Cost of Goods Manufactured and Cost of Goods Sold (LO3-3] Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Underapplied overhead $ 30,000 $ 5,000 $ 58,000 $ 87,000 $ 4,000 Inventories Raw materials Work in process Finished goods Beginning Ending $ 12,000 $18,000 $ 56,000 $ 65,000 $ 35,000 $ 42,000 ods Required:...
Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold. Primare Corporation Schedule of Cost of Goods Sold Beginning finished goods inventory Add: Cost of goods manufactured Cost of goods available for sale Less: Ending finished goods inventory Unadjusted cost of goods sold Add: Underapplied overhead Adjusted cost of goods sold Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw...
Exercise 3-3 Schedules of Cost of Goods Manufactured and Cost of Goods Sold (LO3-3] Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Underapplied overhead $30,000 $ 4,710 $59,800 $ 87,100 $ 4,100 Inventories Raw materials Work in process Finished goods Beginning $ 10,700 $ 54,500 $ 33,000 Ending $ 19,300 $ 68, 400 $ 43,300 Required: 1....
required:1. Prepare a schedule of cost of goods manufactured.
Assume all raw materials used in production were direct
materials.
2. Prepare a schedule of cost of goods sold. Assume that the
company's underapplied or overapplied overhead is closed to Cost of
Goods Sold.
3. Prepare an income statement.
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...
Exercise 3-3 Schedules of Cost of Goods Manufactured and Cost of Goods Sold (LO3-3] Primare Corporation has provided the following data concerning last month's manufacturing operations. points Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Underapplied overhead $30,000 $ 4,790 $58,400 $88,200 $ 4,040 eBook Print Inventories Raw materials Work in process Finished goods Beginning $ 10,980 $ 54,200 $ 34,500 Ending $ 18,400 $ 66,100 $ 42,000 References...
prepare schedules of cost of goods manufactured and cost of
goods sold and an income statement
Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): 217.000 266,000 Selling expenses Purchases of raw materials Direet labor Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost 157.000 365.000 $ 354.000 Inventory balances at the beginning and end of the year were as follows: Ray Baterials...
Exercise 3-3 (Algo) Schedules of Cost of Goods Manufactured and Cost of Goods Sold [LO3-3] Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials used in production Direct labor Manufacturing overhead applied to work in process Underapplied overhead $30,000 $ 4,840 $58,300 $88,700 $ 4,100 Inventories Raw materials Work in process Finished goods Beginning $ 11,600 $ 54,600 $ 33,700 Ending $ 18,900 $ 68,200 $ 42,900 Required: 1. Prepare a...
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