6 Data Section: 7 8 Depreciation--equipment 9 Direct labor 10 Direct materials inventory, 1/1 11 Direct materials inventory, 12/31 12 Factory rent 13 Finished goods, 1/1 14 Finished goods, 12/31 15 Indirect labor 16 Indirect materials 17 Purchases of direct materials 18 Work in process, 1/1 19 Work in process, 12/31 $45,000 642,000 91,500 93,000 76,410 132,000 172,500 37,500 26,250 645,180 30,300 28,665 20 21 22 Answer Section: 23 Jackson Manufacturing Schedule of Cost of Goods Manufactured and Sold 24 25 26 For the Year Ended December 31 27 28 Direct materials Direct materials inventory, 1/1 30 Add: 29 $91,500 645,180 Purchases of Materials 31 2 32 Cost of direct materials available Less: $736,680 FORMULA2 33 Direct Material, 12/31 4 34 35 Cost of direct materials used 6. 36 Direct labor 37 Manufacturing overhead: FORMULA3 642,000 8 38 Factory rent Depreciation- Equipment Indirect Labor Indirect Material 39 39 40 40 41 $76,410 FORMULA4 FORMULA5 FORMULA6 41 42 42 43 43 Total manufacturing costs Work in process, 1/1 44 44 FORMULA7 30,300 45 45 46 46 Total work in process avVailable Less: 47 47 Work in Process, 12/31 $0 FORMULA8 48 48 49 49 Cost of goods manufactured 50 50 Finished Goods, 1/1 FORMULA9 FORMULA10 51 51 52 52 53 54 Cost of goods available for sale Less: 53 54 55 Cost of Goods Sold Finished goods, 12/31 FORMULA11 55 172,500 56 56 57 FORMULA12 58
6 Data Section: 7 8 Depreciation--equipment 9 Direct labor 10 Direct materials inventory, 1/1 11 Direct materials inventory, 12/31 12 Factory rent 13 Finished goods, 1/1 14 Finished goods, 12/31 15 Indirect labor 16 Indirect materials 17 Purchases of direct materials 18 Work in process, 1/1 19 Work in process, 12/31 $45,000 642,000 91,500 93,000 76,410 132,000 172,500 37,500 26,250 645,180 30,300 28,665 20 21 22 Answer Section: 23 Jackson Manufacturing Schedule of Cost of Goods Manufactured and Sold 24 25 26 For the Year Ended December 31 27 28 Direct materials Direct materials inventory, 1/1 30 Add: 29 $91,500 645,180 Purchases of Materials 31 2 32 Cost of direct materials available Less: $736,680 FORMULA2 33 Direct Material, 12/31 4 34 35 Cost of direct materials used 6. 36 Direct labor 37 Manufacturing overhead: FORMULA3 642,000 8 38 Factory rent Depreciation- Equipment Indirect Labor Indirect Material 39 39 40 40 41 $76,410 FORMULA4 FORMULA5 FORMULA6 41 42 42 43 43 Total manufacturing costs Work in process, 1/1 44 44 FORMULA7 30,300 45 45 46 46 Total work in process avVailable Less: 47 47 Work in Process, 12/31 $0 FORMULA8 48 48 49 49 Cost of goods manufactured 50 50 Finished Goods, 1/1 FORMULA9 FORMULA10 51 51 52 52 53 54 Cost of goods available for sale Less: 53 54 55 Cost of Goods Sold Finished goods, 12/31 FORMULA11 55 172,500 56 56 57 FORMULA12 58
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
What is in blue and says "formula" so and so is what i need help with. Please and thank you
Transcribed Image Text:6 Data Section:
$45,000
642,000
91,500
93,000
76,410
132,000
172,500
37,500
26,250
645,180
30,300
28,665
8 Depreciation--equipment
6.
9 Direct labor
10 Direct materials inventory, 1/1
11 Direct materials inventory, 12/31
12 Factory rent
13 Finished goods, 1/1
14 Finished goods, 12/31
15 Indirect labor
16 Indirect materials
17 Purchases of direct materials
18 Work in process, 1/1
19 Work in process, 12/31
20
21
22 Answer Section:
23
24
25
Jackson Manufacturing
Schedule of Cost of Goods Manufactured and Sold
For the Year Ended December 31
26
27
28 Direct materials
Direct materials inventory, 1/1
29
$91,500
645,180
30
Add:
Purchases of Materials
31
32
32
Cost of direct materials available
$736,680
FORMULA2
3
33
Less:
Direct Material, 12/31
34
35 Cost of direct materials used
36
34
35
36 Direct labor
37 Manufacturing overhead:
38
FORMULA3
642,000
37
38
Factory rent
39
$76,410
FORMULA4
39
Depreciation - Equipment
40
41
40
Indirect Labor
41
Indirect Material
FORMULA5
42
42
FORMULA6
43
43 Total manufacturing costs
Work in process, 1/1
45
44
44
FORMULA7
45
30,300
46
46
Total work in process available
Less:
47
47
Work in Process, 12/31
$0
FORMULA8
48
48
49
49 Cost of goods manufactured
50
51
52 52
53 53
50 Finished Goods, 1/1
51
FORMULA9
FORMULA10
Cost of goods available for sale
Less:
Finished goods, 12/31
FORMULA11
54
55 55 Cost of Goods Sold
56 56
54
172,500
57
FORMULA12
58
59
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