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2. Identify the amount of raw materials purchases. 3. Compute the amount of direct materials used. 2. Raw materials purchases 3. Direct materials used

2. Identify the amount of raw materials purchases. 3. Compute the amount of direct materials used. 2. Raw materials purchases 3. Direct materials used

FINANCIAL ACCOUNTING
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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$0 Raw materials, beginning $25,000 $50,000 Property taxes-Factory Indirect labor Direct materials used +ableau Depreciation expense-Factory Repairs-Factory equipment Sales General & administrative expenses Selling expenses Req 1 $75,000 Req 2 and 3 Factory utilities $0 2. Identify the amount of raw materials purchases. 3. Compute the amount of direct materials used. 2. Raw materials purchases 3. Direct materials used Raw materials purchases $100,000 $125,000 $150,000 $175,000 $200,000 Work in Process & Finished Goods Inventories Work in Process $50,000 $40,000 2. Identify the amount of raw materials purchases. 3. Compute the amount of direct materials used. $30,000 $20,000 $10,000 $0 $43,000 Sales and Select Expense Accounts Raw materials, ending $33,000 Complete this question by entering your answers in the tabs below. Finished Goods $50,000 Beginning Ending Beginning Ending Additional Data Accounts receivable, net Cash Direct labor 1. (a) Do the accounts shown in the Tableau Dashboard suggest Mountaineer Company is a manufacturer or a merchandiser? 1. (b) Which of the following accounts distinguishes Mountaineer Company as a manufacturer or merchandiser? $54,000 $200,000 $400,000 $600,000 $800,000 $1,000,000 $150,000 $350,000 $180,000
Transcribed Image Text:$0 Raw materials, beginning $25,000 $50,000 Property taxes-Factory Indirect labor Direct materials used +ableau Depreciation expense-Factory Repairs-Factory equipment Sales General & administrative expenses Selling expenses Req 1 $75,000 Req 2 and 3 Factory utilities $0 2. Identify the amount of raw materials purchases. 3. Compute the amount of direct materials used. 2. Raw materials purchases 3. Direct materials used Raw materials purchases $100,000 $125,000 $150,000 $175,000 $200,000 Work in Process & Finished Goods Inventories Work in Process $50,000 $40,000 2. Identify the amount of raw materials purchases. 3. Compute the amount of direct materials used. $30,000 $20,000 $10,000 $0 $43,000 Sales and Select Expense Accounts Raw materials, ending $33,000 Complete this question by entering your answers in the tabs below. Finished Goods $50,000 Beginning Ending Beginning Ending Additional Data Accounts receivable, net Cash Direct labor 1. (a) Do the accounts shown in the Tableau Dashboard suggest Mountaineer Company is a manufacturer or a merchandiser? 1. (b) Which of the following accounts distinguishes Mountaineer Company as a manufacturer or merchandiser? $54,000 $200,000 $400,000 $600,000 $800,000 $1,000,000 $150,000 $350,000 $180,000
You have been asked by the CEO of Mountaineer Company to assist in analyzing product costs. This analysis is used in internal decision making and in reporting to investors. The following Tableau Dashboard provides data needed for the analysis. $0 Raw materials, beginning Property $25,000 $50,000 $75,000 $100,000 Indirect labor 8 taxes Factory Direct materials used +ableau Raw Materials Inventories Repairs-Factory Depreciation expense-Factory Req 1 Sales General & administrative expenses Selling expenses equipment Req 2 and 3 Factory utilities $0 1. (a) Mountaineer Co. is a 1. (b) Distinguishing account Raw materials purchases 2. Identify the amount of raw materials purchases. 3. Compute the amount of direct materials used. $125,000 $150,000 $175,000 $200,000 Work in Process & Finished Goods Inventories Work in Process $50,000 $40,000 $30,000 $20,000 $10,000 $0 Raw materials, ending $43,000 Sales and Select Expense Accounts $33,000 Complete this question by entering your answers in the tabs below. Finished Goods $50,000 Beginning Ending Beginning Ending Additional Data Accounts receivable, net Cash Direct labor 1. (a) Do the accounts shown in the Tableau Dashboard suggest Mountaineer Company is a manufacturer or a merchandiser? 1. (b) Which of the following accounts distinguishes Mountaineer Company as a manufacturer or merchandiser? $54,000 $200,000 $400,000 $600,000 $800,000 $1,000,000 $150,000 $350,000 $180,000 (a) Do the accounts shown in the Tableau Dashboard suggest Mountaineer Co. is a manufacturer or a merchandiser? (b) Which of the following accounts distinguishes Mountaineer Co. as a manufacturer or merchandiser?
Transcribed Image Text:You have been asked by the CEO of Mountaineer Company to assist in analyzing product costs. This analysis is used in internal decision making and in reporting to investors. The following Tableau Dashboard provides data needed for the analysis. $0 Raw materials, beginning Property $25,000 $50,000 $75,000 $100,000 Indirect labor 8 taxes Factory Direct materials used +ableau Raw Materials Inventories Repairs-Factory Depreciation expense-Factory Req 1 Sales General & administrative expenses Selling expenses equipment Req 2 and 3 Factory utilities $0 1. (a) Mountaineer Co. is a 1. (b) Distinguishing account Raw materials purchases 2. Identify the amount of raw materials purchases. 3. Compute the amount of direct materials used. $125,000 $150,000 $175,000 $200,000 Work in Process & Finished Goods Inventories Work in Process $50,000 $40,000 $30,000 $20,000 $10,000 $0 Raw materials, ending $43,000 Sales and Select Expense Accounts $33,000 Complete this question by entering your answers in the tabs below. Finished Goods $50,000 Beginning Ending Beginning Ending Additional Data Accounts receivable, net Cash Direct labor 1. (a) Do the accounts shown in the Tableau Dashboard suggest Mountaineer Company is a manufacturer or a merchandiser? 1. (b) Which of the following accounts distinguishes Mountaineer Company as a manufacturer or merchandiser? $54,000 $200,000 $400,000 $600,000 $800,000 $1,000,000 $150,000 $350,000 $180,000 (a) Do the accounts shown in the Tableau Dashboard suggest Mountaineer Co. is a manufacturer or a merchandiser? (b) Which of the following accounts distinguishes Mountaineer Co. as a manufacturer or merchandiser?
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