12. QRS Manufacturing Company has the following data for 2025 (amounts in millions): View the information. Prepare the schedule of cost of goods manufactured and the cost of goods sold section of the income statement for the year ended December 31, 2025. Begin by preparing the schedule of cost of goods manufactured. Direct Materials Used: Direct Materials Used QRS Manufacturing Company Schedule of Cost of Goods Manufactured Year Ended December 31, 2025 (in millions) Total Manufacturing Costs Incurred during the Year Total Manufacturing Costs to Account For Cost of Goods Manufactured CIS Information Direct Materials, January 1 Direct Materials, December 31 Work-in-Process Inventory, January 11 Work-in-Process Inventory, December 31 Finished Goods Inventory, January 1 Finished Goods Inventory, December 31 Direct Materials Purchased, including Freight In Direct Labor Manufacturing Overhead Print Done $ 8 9 15 14 7 10 35 41 25

12. QRS Manufacturing Company has the following data for 2025 (amounts in millions): View the information. Prepare the schedule of cost of goods manufactured and the cost of goods sold section of the income statement for the year ended December 31, 2025. Begin by preparing the schedule of cost of goods manufactured. Direct Materials Used: Direct Materials Used QRS Manufacturing Company Schedule of Cost of Goods Manufactured Year Ended December 31, 2025 (in millions) Total Manufacturing Costs Incurred during the Year Total Manufacturing Costs to Account For Cost of Goods Manufactured CIS Information Direct Materials, January 1 Direct Materials, December 31 Work-in-Process Inventory, January 11 Work-in-Process Inventory, December 31 Finished Goods Inventory, January 1 Finished Goods Inventory, December 31 Direct Materials Purchased, including Freight In Direct Labor Manufacturing Overhead Print Done $ 8 9 15 14 7 10 35 41 25

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The following data were taken from the records of Blossom Manufacturing Company for the fiscal year ended December 31, 2022: Raw Materials Inventory (1/1/22) Raw Materials Inventory (12/31/22) Finished Goods Inventory (1/1/22) Finished Goods Inventory (12/31/22) Work in Process Inventory (1/1/22) Work in Process Inventory (12/31/22) Direct Labour Indirect Labour Accounts Receivable Factory Insurance $47,950 Factory Machinery Depreciation Factory Utilities Office Utilities Sales Sales Discounts Plant Manager's Salary Factory Property Taxes Factory Repairs Raw Materials Purchases Cash 44,350 85,700 77,600 9,850 6,550 145,100 18,200 27,250 7,600 $7,820 13,220 9,000 465,880 2,050 40,500 7,020 940 62,800 28,300
show full solution. Compute for the unit cost of goods manufactured
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