1. Prepare (a) a manufacturing schedule and (b) an statement using the cost data of James Jones during the month of June, 2015. James Jones data are provided below. Direct Labor $370,000 Materials purchased during the month of June, 2015 $405,000 Material purchases returns Material Purchases Discount Materials Transportation In Materials, June 1 Work-in process, June 1 $142,000 Materials June 30, end of month Work-in process, June 30 Finished goods inventory, June 1 Finished goods inventory, June 30 Sales Commission Advertising expense Administrative Expenses Sales Sales Returns and Allowances Sales Discount Transportation-out Indirect Labor Cost Factory machinery depreciation Factory heat, light, and power Factory supplies Factory building property taxes Factory miscellaneous expenses $1,500 $500 $1,000 $200,000 $180,000 $159,000 $110,000 $125,000 $5,000 $10,000 $25,000 $800,000 $100,000 $50,000 $25,000 $40,300 $6,500 $25,000 $8,000 $6,000 $11,000
1. Prepare (a) a manufacturing schedule and (b) an statement using the cost data of James Jones during the month of June, 2015. James Jones data are provided below. Direct Labor $370,000 Materials purchased during the month of June, 2015 $405,000 Material purchases returns Material Purchases Discount Materials Transportation In Materials, June 1 Work-in process, June 1 $142,000 Materials June 30, end of month Work-in process, June 30 Finished goods inventory, June 1 Finished goods inventory, June 30 Sales Commission Advertising expense Administrative Expenses Sales Sales Returns and Allowances Sales Discount Transportation-out Indirect Labor Cost Factory machinery depreciation Factory heat, light, and power Factory supplies Factory building property taxes Factory miscellaneous expenses $1,500 $500 $1,000 $200,000 $180,000 $159,000 $110,000 $125,000 $5,000 $10,000 $25,000 $800,000 $100,000 $50,000 $25,000 $40,300 $6,500 $25,000 $8,000 $6,000 $11,000
Cornerstones of Cost Management (Cornerstones Series)
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Author:Don R. Hansen, Maryanne M. Mowen
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Chapter2: Basic Cost Management Concepts
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Problem 22E: Ellerson Company provided the following information for the last calendar year: During the year,...
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![1. Prepare (a) a manufacturing schedule and (b) an income
statement using the cost data of James Jones during the
month of June, 2015. James Jones data are provided
below.
Direct Labor
$370,000
Materials purchased during the month of June, 2015
$405,000
Material purchases returns
Material Purchases Discount
Materials Transportation In
Materials, June 1
Work-in process, June 1
$142,000
Materials June 30, end of month
Work-in process, June 30
Finished goods inventory, June 1
Finished goods inventory, June 30
Sales Commission
Advertising expense
Administrative Expenses
Sales
Sales Returns and Allowances
Sales Discount
Transportation-out
Indirect Labor Cost
Factory machinery depreciation
Factory heat, light, and power
Factory supplies
Factory building property taxes
Factory miscellaneous expenses
$1,500
$500
$1,000
$200,000
$180,000
$159,000
$110,000
$125,000
$5,000
$10,000
$25,000
$800,000
$100,000
$50,000
$25,000
$40,300
$6,500
$25,000
$8,000
$6,000
$11,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5c9526c1-c92e-4b17-b334-bbc08d5d0873%2Fa8cd4e59-5d47-4a6d-a449-cdcef04c0ffb%2F43smmu_processed.jpeg&w=3840&q=75)
Transcribed Image Text:1. Prepare (a) a manufacturing schedule and (b) an income
statement using the cost data of James Jones during the
month of June, 2015. James Jones data are provided
below.
Direct Labor
$370,000
Materials purchased during the month of June, 2015
$405,000
Material purchases returns
Material Purchases Discount
Materials Transportation In
Materials, June 1
Work-in process, June 1
$142,000
Materials June 30, end of month
Work-in process, June 30
Finished goods inventory, June 1
Finished goods inventory, June 30
Sales Commission
Advertising expense
Administrative Expenses
Sales
Sales Returns and Allowances
Sales Discount
Transportation-out
Indirect Labor Cost
Factory machinery depreciation
Factory heat, light, and power
Factory supplies
Factory building property taxes
Factory miscellaneous expenses
$1,500
$500
$1,000
$200,000
$180,000
$159,000
$110,000
$125,000
$5,000
$10,000
$25,000
$800,000
$100,000
$50,000
$25,000
$40,300
$6,500
$25,000
$8,000
$6,000
$11,000
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