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The following information is available for Aikman Company.
January 1, 2017
2017
December 31, 2017
Raw materials inventory
$21,000
$30,000
Work in process inventory
13,500
17,200
Finished goods inventory
27,000
21,000
Materials purchased
$150,000
Direct labor
220,000
Manufacturing overhead
180,000
Sales revenue
910,000
Compute cost of goods manufactured.
Aikman Company
Cost of Goods Manufactured Schedule
Prepare an income statement through gross profit.
AIKMAN COMPANY
Income Statement (Partial)
Show the presentation of the ending inventories on the December
31, 2017, balance...
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The following information is available for Aikman Company. 2017 January 1, 2017 $25,300 16,490 28,040 December 31, 2017 $35,600 18,570 25,130 Raw materials inventory Work in process inventory Finished goods inventory Materials purchased Direct labor Manufacturing overhead Sales revenue $152,070 223,570 181,050 904,680 Compute cost of goods manufactured. Aikman Company Cost of Goods Manufactured Schedule e Textbook and Media Assistance Used e Textbook Prepare an income statement through gross profit. AIKMAN COMPANY Income Statement (Partial) e Textbook and Media Show...
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The following information is available for Aikman Company.
January 1, 2020
2020
December 31, 2020
Raw materials inventory
$21,950
$31,370
Work in process inventory
18,360
18,110
Finished goods inventory
28,500
23,650
Materials purchased
$153,710
Direct labor
223,790
Manufacturing overhead
181,740
Sales revenue
902,150
Part 1
Compute cost of goods manufactured.
Aikman Company
Cost of Goods Manufactured Schedule
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$
:
$
:
$
eTextbook and Media
Attempts: 0 of 3 used
Using multiple attempts will impact your score.
10% score...
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Exercise 14-14 a-c The following information is available for Aikman Company January 1, 2020 2020 Raw materials inventory $26,010 Work in process inventory 18,560 Finished goods inventory 28,900 Materials purchased $155,770 Direct labor 224,700 Manufacturing overhead 182,460 Sales revenue 905,040 December 31, 2020 $34,130 19,620 24,050 Your answer is partially correct. Try again. Compute cost of goods manufactured. Alkman Company Cost of Goods Manufactured Schedule 18560 work-in -Process Inventory, 1/2 "Direct Materials Raw Materials Inventory, 1/1 Materials Purchased Materials Available...
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E14-14 The following information is available for Aikman Company. January 1, 2017 2017 December 31, 2017 Raw materials inventory $21,000 $30,000 Work in process inventory 13,500 17,200 Finished goods inventory 27,000 21,000 Materials purchased $150,000 Direct labor 220,000 Manufacturing overhead 180,000 Sales revenue 910,000 Instructions (a) Compute cost of goods manufactured. (b) Prepare an income statement through gross profit. (c) Show the presentation of the ending inventories on the December 31, 2017, balance sheet. (d) How would the income statement...
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E14-14 The following information is available for Aikman Company. January 1, 2017 2017 December 31, 2017 Raw materials inventory $21,000 $30,000 Work in process inventory 13,500 17,200 Finished goods inventory 27,000 21,000 Materials purchased $150,000 Direct labor 220,000 Manufacturing overhead 180,000 Sales revenue 910,000 Instructions (a) Compute cost of goods manufactured. ome statement through gross profit. (c) Show the presentation of the ending inventories on the December 31, 2017, balance sheet. (d) How would the income statement and balance sheet...
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pute cost of goods manufactured. Aikman Company Cost of Goods Manufactured Schedule Nork-in-Process Inventory. 1/1 1612 Direct Materials Raw Materials Inventory. 1/1 23680 Materials Purchased 153280 Materials Available for Use 176960 Less Raw Materials inventory. 12/31 31650 Direct Materials Used 1410 Direct Labor 221550 Manufacturing Overhead Tot Manufacturing Costs 551410 Toul Cost of Work in Process o ry Less Wort Process inventory. 12/31 n Arrompts: 1017 used The following information is available for Aikman Company. 2020 dings January 1, 2020...
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The following information is available for Aikman Company January 1, 2017 $25,760 17,120 27,190 2017 December 31,2017 $ 32,660 18,650 22,380 Raw materials inventory Work in process inventory Finished goods inventory Materials purchased Direct labor Manufacturing overhead Sales revenue $154,290 225,040 181,220 902,490 Compute cost of goods manufactured. Aikman Company Cost of Goods Manufactured Schedule
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The following information is available for Aikman Company. January 1, 20172017December 31, 2017 Raw materials inventory Work in process inventory Finished goods inventory Materials purchased Direct labor Manufacturing overhead Sales revenue $26,010 18,560 28,900 $34,130 19,620 24,050 $155,770 224,700 182,460 905,040 Compute cost of goods manufactured.
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Exercise 15-9
At May 31, 2017, the accounts of Lopez Company show the
following.
1.
May 1 inventories—finished goods $14,800, work in process
$17,600, and raw materials $8,600.
2.
May 31 inventories—finished goods $9,600, work in process
$17,000, and raw materials $8,000.
3.
Debit postings to work in process were direct materials
$64,300, direct labor $51,400, and manufacturing overhead applied
$42,100.
4.
Sales revenue totaled $217,000.
Prepare a condensed cost of goods manufactured schedule. LOPEZ COMPANY Cost of Goods Manufactured...
The following information is available for Aikman Company. 2017 January 1, 2017 $25,300 16,490 28,040 December 31, 2017 $35,600 18,570 25,130 Raw materials inventory Work in process inventory Finished goods inventory Materials purchased Direct labor Manufacturing overhead Sales revenue $152,070 223,570 181,050 904,680 Compute cost of goods manufactured. Aikman Company Cost of Goods Manufactured Schedule e Textbook and Media Assistance Used e Textbook Prepare an income statement through gross profit. AIKMAN COMPANY Income Statement (Partial) e Textbook and Media Show...
Exercise 14-14 a-c The following information is available for Aikman Company January 1, 2020 2020 Raw materials inventory $26,010 Work in process inventory 18,560 Finished goods inventory 28,900 Materials purchased $155,770 Direct labor 224,700 Manufacturing overhead 182,460 Sales revenue 905,040 December 31, 2020 $34,130 19,620 24,050 Your answer is partially correct. Try again. Compute cost of goods manufactured. Alkman Company Cost of Goods Manufactured Schedule 18560 work-in -Process Inventory, 1/2 "Direct Materials Raw Materials Inventory, 1/1 Materials Purchased Materials Available...
E14-14 The following information is available for Aikman Company. January 1, 2017 2017 December 31, 2017 Raw materials inventory $21,000 $30,000 Work in process inventory 13,500 17,200 Finished goods inventory 27,000 21,000 Materials purchased $150,000 Direct labor 220,000 Manufacturing overhead 180,000 Sales revenue 910,000 Instructions (a) Compute cost of goods manufactured. (b) Prepare an income statement through gross profit. (c) Show the presentation of the ending inventories on the December 31, 2017, balance sheet. (d) How would the income statement...
E14-14 The following information is available for Aikman Company. January 1, 2017 2017 December 31, 2017 Raw materials inventory $21,000 $30,000 Work in process inventory 13,500 17,200 Finished goods inventory 27,000 21,000 Materials purchased $150,000 Direct labor 220,000 Manufacturing overhead 180,000 Sales revenue 910,000 Instructions (a) Compute cost of goods manufactured. ome statement through gross profit. (c) Show the presentation of the ending inventories on the December 31, 2017, balance sheet. (d) How would the income statement and balance sheet...
pute cost of goods manufactured. Aikman Company Cost of Goods Manufactured Schedule Nork-in-Process Inventory. 1/1 1612 Direct Materials Raw Materials Inventory. 1/1 23680 Materials Purchased 153280 Materials Available for Use 176960 Less Raw Materials inventory. 12/31 31650 Direct Materials Used 1410 Direct Labor 221550 Manufacturing Overhead Tot Manufacturing Costs 551410 Toul Cost of Work in Process o ry Less Wort Process inventory. 12/31 n Arrompts: 1017 used The following information is available for Aikman Company. 2020 dings January 1, 2020...
The following information is available for Aikman Company January 1, 2017 $25,760 17,120 27,190 2017 December 31,2017 $ 32,660 18,650 22,380 Raw materials inventory Work in process inventory Finished goods inventory Materials purchased Direct labor Manufacturing overhead Sales revenue $154,290 225,040 181,220 902,490 Compute cost of goods manufactured. Aikman Company Cost of Goods Manufactured Schedule
The following information is available for Aikman Company. January 1, 20172017December 31, 2017 Raw materials inventory Work in process inventory Finished goods inventory Materials purchased Direct labor Manufacturing overhead Sales revenue $26,010 18,560 28,900 $34,130 19,620 24,050 $155,770 224,700 182,460 905,040 Compute cost of goods manufactured.
Exercise 15-9
At May 31, 2017, the accounts of Lopez Company show the
following.
1.
May 1 inventories—finished goods $14,800, work in process
$17,600, and raw materials $8,600.
2.
May 31 inventories—finished goods $9,600, work in process
$17,000, and raw materials $8,000.
3.
Debit postings to work in process were direct materials
$64,300, direct labor $51,400, and manufacturing overhead applied
$42,100.
4.
Sales revenue totaled $217,000.
Prepare a condensed cost of goods manufactured schedule. LOPEZ COMPANY Cost of Goods Manufactured...