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LO 2,4 Operating income $75 COGM, $762 2-37 Statement of comprehensive income and schedule of cost of goods manufactured. The Powell Corporation has the following account balances (in millions): For Specific Date For Year 2019 Direct materials, January 1, 2019 $15 Purchases of direct materials $ 390 Work in process, January 1, 2019 10 Direct manufacturing labour 120 Finished goods, January 1, 2019 70 Depreciation-plant building and 96 equipment Direct materials, December 31, 2019 20 Plant supervisory salaries 6 Work...
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2-39 Income statement and schedule of cost of goods manufactured. The Howell Corporation has the following account balances (in millions): $15 For Specific Date For Year 2017 Direct materials inventory, Jan 1, 2017 Purchases of direct materials $325 Work-in-process inventory, Jan. 1, 2017 10 Direct manufacturing labor 100 Finished goods inventory, Jan. 1, 2017 Depreciation-plant and equipment Direct materials inventory, Dec. 31, 2017 Plant supervisory salaries Work-in-process inventory, Dec. 31, 2017 Miscellaneous plant overhead Finished goods inventory, Dec. 31, 2017...
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Requirement Prepare an income statement and a supporting schedule of cost of goods manufactured Begin by preparing the supporting schedule of cost of goods manufactured (in millions). Start with the direct materials and direct labor costs, then indirect manufacturing costs, and complete the schedule by calculating cost of goods manufactured. Cougar Corporation Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2017 (in millions) Direct material costs: Direct materials used Direct labor manufacturing costs Indirect manufacturing costs:...
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(my answers were wrong) please help
The Howell Corporation has the following account balances (in millions): (Click the icon to view the account balances.) Requirement Prepare an income statement and a supporting schedule of cost of goods manufactured for the year ended December 31, 2017 Begin by preparing the schedule of cost of goods manufactured (in millions). Start with the direct materials and labor costs, then indirect manufacturing costs, and finally complete the schedule by calculating the cost of goods...
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2-36 Income statement and schedule of cost of goods manufactured. The following items (in millions) pertain to Calendar Corporation: For Specific Date For Year 2011 Work-in-process inventory, Jan. 1, 2011 Direct materials inventory, Dec. 31, 2011 Finished goods inventory, Dec. 31, 2011 Accounts payable, Dec. 31, 2011 Accounts receivable, Jan. 1, 2011 Work-in-process inventory, Dec. 31, 2011 Finished goods inventory, Jan 1, 2011 Accounts receivable, Dec. 31, 2011 Accounts payable, Jan. 1, 2011 Direct materials inventory, Jan. 1, 2011 $18...
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Question 6 (33 marks) *this question must be completed in Excel. Prepare, in good format, a schedule of cost of goods manufactured and Statement of Comprehensive Income using the information below for the company, Consolidated Minerals Ltd., for the year ended December 31, 2019: Direct materials, January 1, 2019 Work in process, January 1, 2019 Finished goods, January 1, 2019 Direct materials, December 31, 2019 Work in process, December 31, 2019 Finished goods, December 31, 2019 Purchase of direct materials...
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2-28 Computing cost of goods manufactured and cost of goods sold. The following are account be NINTRODUCTION TO COST TERMS AND PURPOSES R 200 800 ances relating to 2019 (in thousands): Property tax on plant building Marketing, distribution, and customer-service costs Finished goods inventory, January 1, 2019 Plant utilities Work-in-process inventory, December 31, 2019 Depreciation of plant building General and administrative costs (nonplant) Direct materials used $ 4,200 44,400 37,400 20,400 32,200 14,700 51,600 106,800 44,800 14,700 19,200 25,000 38,400...
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The Rouse Corporation has the following account balances (in millions): (Click the icon to view the account balances.) Requirement Prepare an income statement and a supporting schedule of cost of goods manufactured for the vear ended December 31, 2017 i Data Table Jle by calculating the cost of goods manufactured. Begin by preparing the schedule of cost of goods manu Rouse Corporation Schedule of Cost of Goods Mal For the Year Ended December 31, 2 For Specific Date $ Direct...
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15 Requirements: Prepare the schedule of cost of goods manufactured and cost of goods sold. Data: Raw Materials Inventory, Jan. 1 $10 Raw Materials Inventory, Dec. 31 Work-in-Process Inventory, Jan. 1 Work-in-Process Inventory, Dec. 31 Finished Goods Inventory, Jan. 1 Finished Goods Inventory, Dec. 31 Raw Materials Purchased, incl. freight 30 Direct Labor 40 Manufacturing (factory) Overhead Schedule of Costs of Goods Manufactured Year Ended December 31, 2018 Beginning Work-in-Process Direct Materials Used: Beginning Raw Materials Inventory Purchased of Raw...
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Required information Problem 14-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO P2, A1 (The following information applies to the questions displayed below.) The following calendar year-end information is taken from the December 31, 2019, adjusted trial balance and other records of Leone Company. Advertising expense Depreciation expense-office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Inventories Raw materials, December 31, 2018 Raw materials, December 31, 2019 Work in process,...
LO 2,4 Operating income $75 COGM, $762 2-37 Statement of comprehensive income and schedule of cost of goods manufactured. The Powell Corporation has the following account balances (in millions): For Specific Date For Year 2019 Direct materials, January 1, 2019 $15 Purchases of direct materials $ 390 Work in process, January 1, 2019 10 Direct manufacturing labour 120 Finished goods, January 1, 2019 70 Depreciation-plant building and 96 equipment Direct materials, December 31, 2019 20 Plant supervisory salaries 6 Work...
2-39 Income statement and schedule of cost of goods manufactured. The Howell Corporation has the following account balances (in millions): $15 For Specific Date For Year 2017 Direct materials inventory, Jan 1, 2017 Purchases of direct materials $325 Work-in-process inventory, Jan. 1, 2017 10 Direct manufacturing labor 100 Finished goods inventory, Jan. 1, 2017 Depreciation-plant and equipment Direct materials inventory, Dec. 31, 2017 Plant supervisory salaries Work-in-process inventory, Dec. 31, 2017 Miscellaneous plant overhead Finished goods inventory, Dec. 31, 2017...
Requirement Prepare an income statement and a supporting schedule of cost of goods manufactured Begin by preparing the supporting schedule of cost of goods manufactured (in millions). Start with the direct materials and direct labor costs, then indirect manufacturing costs, and complete the schedule by calculating cost of goods manufactured. Cougar Corporation Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2017 (in millions) Direct material costs: Direct materials used Direct labor manufacturing costs Indirect manufacturing costs:...
(my answers were wrong) please help
The Howell Corporation has the following account balances (in millions): (Click the icon to view the account balances.) Requirement Prepare an income statement and a supporting schedule of cost of goods manufactured for the year ended December 31, 2017 Begin by preparing the schedule of cost of goods manufactured (in millions). Start with the direct materials and labor costs, then indirect manufacturing costs, and finally complete the schedule by calculating the cost of goods...
2-36 Income statement and schedule of cost of goods manufactured. The following items (in millions) pertain to Calendar Corporation: For Specific Date For Year 2011 Work-in-process inventory, Jan. 1, 2011 Direct materials inventory, Dec. 31, 2011 Finished goods inventory, Dec. 31, 2011 Accounts payable, Dec. 31, 2011 Accounts receivable, Jan. 1, 2011 Work-in-process inventory, Dec. 31, 2011 Finished goods inventory, Jan 1, 2011 Accounts receivable, Dec. 31, 2011 Accounts payable, Jan. 1, 2011 Direct materials inventory, Jan. 1, 2011 $18...
Question 6 (33 marks) *this question must be completed in Excel. Prepare, in good format, a schedule of cost of goods manufactured and Statement of Comprehensive Income using the information below for the company, Consolidated Minerals Ltd., for the year ended December 31, 2019: Direct materials, January 1, 2019 Work in process, January 1, 2019 Finished goods, January 1, 2019 Direct materials, December 31, 2019 Work in process, December 31, 2019 Finished goods, December 31, 2019 Purchase of direct materials...
2-28 Computing cost of goods manufactured and cost of goods sold. The following are account be NINTRODUCTION TO COST TERMS AND PURPOSES R 200 800 ances relating to 2019 (in thousands): Property tax on plant building Marketing, distribution, and customer-service costs Finished goods inventory, January 1, 2019 Plant utilities Work-in-process inventory, December 31, 2019 Depreciation of plant building General and administrative costs (nonplant) Direct materials used $ 4,200 44,400 37,400 20,400 32,200 14,700 51,600 106,800 44,800 14,700 19,200 25,000 38,400...
The Rouse Corporation has the following account balances (in millions): (Click the icon to view the account balances.) Requirement Prepare an income statement and a supporting schedule of cost of goods manufactured for the vear ended December 31, 2017 i Data Table Jle by calculating the cost of goods manufactured. Begin by preparing the schedule of cost of goods manu Rouse Corporation Schedule of Cost of Goods Mal For the Year Ended December 31, 2 For Specific Date $ Direct...
15 Requirements: Prepare the schedule of cost of goods manufactured and cost of goods sold. Data: Raw Materials Inventory, Jan. 1 $10 Raw Materials Inventory, Dec. 31 Work-in-Process Inventory, Jan. 1 Work-in-Process Inventory, Dec. 31 Finished Goods Inventory, Jan. 1 Finished Goods Inventory, Dec. 31 Raw Materials Purchased, incl. freight 30 Direct Labor 40 Manufacturing (factory) Overhead Schedule of Costs of Goods Manufactured Year Ended December 31, 2018 Beginning Work-in-Process Direct Materials Used: Beginning Raw Materials Inventory Purchased of Raw...
Required information Problem 14-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO P2, A1 (The following information applies to the questions displayed below.) The following calendar year-end information is taken from the December 31, 2019, adjusted trial balance and other records of Leone Company. Advertising expense Depreciation expense-office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Inventories Raw materials, December 31, 2018 Raw materials, December 31, 2019 Work in process,...