Homework Answers
| 1 | |||
| Cost of Goods Manufactured Schedule | |||
| For the Year Ended June 30, 2020 | |||
| Work in Process, July 1, 2019 | 28000 | ||
| Direct Materials | |||
| Raw Materials Inventory, July 1, 2019 | 53000 | ||
| Raw Materials Purchases | 97000 | ||
| Total Raw Materials Available for Use | 150000 | ||
| Less: Raw Materials Inventory, June 30, 2020 | 48400 | ||
| Direct Materials Used | 101600 | ||
| Direct Labor | 143150 | ||
| Manufacturing Overhead: | |||
| Indirect Labor | 25760 | ||
| Factory Insurance | 4800 | ||
| Factory Machinery Depreciation | 18600 | ||
| Factory Utilities | 30500 | ||
| Plant Manager’s Salary | 64200 | ||
| Factory Property Taxes | 9610 | ||
| Factory Repairs | 1700 | ||
| Total Manufacturing Overhead | 155170 | ||
| Total Manufacturing Costs | 399920 | ||
| Total Cost of Work in Process | 427920 | ||
| Less: Work in Process, June 30, 2020 | 27100 | ||
| Cost of Goods Manufactured | 400820 | ||
| 2 | |||
| (Partial) Income Statement | |||
| For the Year Ended June 30, 2020 | |||
| Sales Revenues | |||
| Sales Revenue | 563100 | ||
| Less: Sales discounts | 5000 | ||
| Net Sales | 558100 | ||
| Cost of goods sold | |||
| Finished goods inventory, July 1, 2019 | 97400 | ||
| Cost of goods manufactured | 400820 | ||
| Cost of goods available for sale | 498220 | ||
| Less: Finished goods inventory, June 30, 2020 | 23100 | ||
| Cost of goods sold | 475120 | ||
| Gross profit | 82980 | ||
| 3 | |||
| (Partial) Balance Sheet | |||
| June 30, 2020 | |||
| Assets | |||
| Current assets | |||
| Cash | 41000 | ||
| Accounts Receivable | 32700 | ||
| Inventories: | |||
| Finished goods | 23100 | ||
| Work in process | 27100 | ||
| Raw materials | 48400 | ||
| 98600 | |||
| Total current assets | 172300 | ||
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CES Problem 14-04A a-c (Video) The following data were taken from the records of Coronado Company for the fiscal year ended June 30, 2020. zudy. 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 $51,600 45,500 99,100 22,300 29,600 28,100 145,750 26,660 35,400 Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts...
Problem 14-04A The following data were taken from the records of Clarkson Company for the fiscal...
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Problem 14-04A The following data were taken from the records of Clarkson Company for the fiscal...
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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 $49,900 45,000 96,100 28,500 22,700 29,200 145,050 27,360 34,100 Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Plant Man er's Salary Factory Property...
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...
Che following data were taken from the records of Clarkson Company for the fiscal year ended...
Che 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 $53,000 48,400 97,400 23,100 28,000 27.100 143,150 25,760 32,700 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 $56,700 40,400 96,100 20,100 28,600 24,500 142,850 25,160 34,800 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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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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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 $56,700 40,400 96,100 20,100 28,600 24,500 142,850 25,160 34,800 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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