Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory bala beginning and end of 20x1. Inventory Classification Raw material Work in process Finished goods January 1, 20x1 $ 50,000 120,000 170,000 December 31, 20x1 $ 70,000 115,000 165,000 During 20x1, the company purchased $250,000 of raw material and spent $400,000 on direct labor. Manu overhead costs were as follows:
Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory bala beginning and end of 20x1. Inventory Classification Raw material Work in process Finished goods January 1, 20x1 $ 50,000 120,000 170,000 December 31, 20x1 $ 70,000 115,000 165,000 During 20x1, the company purchased $250,000 of raw material and spent $400,000 on direct labor. Manu overhead costs were as follows:
Chapter1: Financial Statements And Business Decisions
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![1 Question 6 - HW 1 (Chapter 2)
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Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the
beginning and end of 20x1.
Inventory Classification
Raw material
Work in process
Finished goods
January 1, 20x1
$ 50,000
120,000
170,000
December 31, 20x1
$ 70,000
115,000
165,000
During 20x1, the company purchased $250,000 of raw material and spent $400,000 on direct labor. Manufacturing
overhead costs were as follows:
Indirect material
12,000
Indirect labor
Depreciation on plant and equipment
Utilities
26,000
100, 000
26,000
30,000
Other
Sales revenue was $1,110,000 for the year. Selling and administrative expenses for the year amounted to $110,000. The
firm's tax rate is 40 percent.
2. Prepare a schedule of cost of goods sold.
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Transcribed Image Text:1 Question 6 - HW 1 (Chapter 2)
ezto.mheducation.com
Saved
Required information
[The following information applies to the questions displayed below.]
Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the
beginning and end of 20x1.
Inventory Classification
Raw material
Work in process
Finished goods
January 1, 20x1
$ 50,000
120,000
170,000
December 31, 20x1
$ 70,000
115,000
165,000
During 20x1, the company purchased $250,000 of raw material and spent $400,000 on direct labor. Manufacturing
overhead costs were as follows:
Indirect material
12,000
Indirect labor
Depreciation on plant and equipment
Utilities
26,000
100, 000
26,000
30,000
Other
Sales revenue was $1,110,000 for the year. Selling and administrative expenses for the year amounted to $110,000. The
firm's tax rate is 40 percent.
2. Prepare a schedule of cost of goods sold.
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6 7
of 9
Next >
![,HO,000 for the year. Selling and administrative
firm's tax rate is 40 percent.
2. Prepare a schedule of cost of goods sold.
ALEXANDRIA ALUMINUM COMPANY
Schedule of Cost of Goods Sold
For the Year Ended December 31, 20x1
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Transcribed Image Text:,HO,000 for the year. Selling and administrative
firm's tax rate is 40 percent.
2. Prepare a schedule of cost of goods sold.
ALEXANDRIA ALUMINUM COMPANY
Schedule of Cost of Goods Sold
For the Year Ended December 31, 20x1
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6.
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