Can someone please assist with the attached. Part 1Canine Nutritionists is a manufacturer of grains for dogs. The following information pertains to operations duringthe 2021 calendar year.Inventory Data:Raw MaterialsIndirect MaterialsWork in ProgressFinished Goods1/1/2021 Purchases 31/12/2021$750,000 $4,330,000320,00055,000924,0001,142,600The following additional information is also available:Sales RevenueDirect Factory LaborIndirect Factory LaborTotal Depreciation 1Total Utilities ²Distribution & Customer Service CostsInsurance on Plant & EquipmentProperty Taxes ³n/an/aAdministrative Wages & SalariesAdvertising ExpensesSales Commission$807,00071,500814,7501,720,200$14,776,0004,371,0001,232,250400,000525,00076,800585,00090,0001,076,00057,7005% of Sales Revenue¹ Of the total depreciation, 80% relates to factory plant & equipment and 20% relates to general andadministrative costs.2 Of the total utilities, 75% relates to manufacturing and 25% relates to general and administrative costs.3 The property taxes should be shared: 85% manufacturing & 15% general & administrative costs.Required:a) Calculate the raw material used by Canine Nutritionists.b) Calculate the indirect materials used by Canine Nutritionistsc) What is the total manufacturing overhead cost incurred by Canine Nutritionists during the period?d) Determine the prime cost & conversion cost of the product manufactured.e) Prepare a schedule of cost of goods manufactured for the year ended December 31, 2021, clearlyshowing total manufacturing cost & total manufacturing costs to account for.f) What is the unit product cost if Canine Nutritionists manufactured 18,500 bags of grains for the year?g) How does the format of the income statement for a manufacturing concern differ from the incomestatement of a merchandising business?

Prime costs are the cost which refers to the direct cost of material , labor, and other expenses…

Canine Nutritionists is a manufacturer of grains for dogs. The following information pertains to operations during the 2021 calendar year. Inventory Data: Raw Materials Indirect Materials Work in Progress Finished Goods 1/1/2021 Purchases 31/12/2021 $750,000 $4,330,000 $807,000 71,500 814,750 1,720,200 55,000 320,000 924,000 1,142,600 n/a n/a The following additional information is also available: Sales Revenue Direct Factory Labor Indirect Factory Labor Total Depreciation 1 Total Utilities 2 Distribution & Customer Service Costs $14,776,000 4,371,000 1,232,250 400,000 525,000 76,800

Canine Nutritionists is a manufacturer of grains for dogs. The following information pertains to operations during the 2021 calendar year. Inventory Data: Raw Materials Indirect Materials Work in Progress Finished Goods 1/1/2021 Purchases 31/12/2021 $750,000 $4,330,000 $807,000 71,500 814,750 1,720,200 55,000 320,000 924,000 1,142,600 n/a n/a The following additional information is also available: Sales Revenue Direct Factory Labor Indirect Factory Labor Total Depreciation 1 Total Utilities 2 Distribution & Customer Service Costs $14,776,000 4,371,000 1,232,250 400,000 525,000 76,800

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Part 1 Canine Nutritionists is a manufacturer of grains for dogs. The following information pertains to operations during the 2021 calendar year. Inventory Data: Raw Materials Indirect Materials Work in Progress Finished Goods 1/1/2021 Purchases 31/12/2021 $750,000 $4,330,000 320,000 55,000 924,000 1,142,600 The following additional information is also available: Sales Revenue Direct Factory Labor Indirect Factory Labor Total Depreciation 1 Total Utilities 2 Distribution & Customer Service Costs Insurance on Plant & Equipment Property Taxes 3 Administrative Wages & Salaries Advertising Expenses Sales Commission n/a n/a $807,000 71,500 814,750 1,720,200 $14,776,000 4,371,000 1,232,250 400,000 525,000 76,800 585,000 90,000 1,076,000 57,700 5% of Sales Revenue 1 Of the total depreciation, 80% relates to factory plant & equipment and 20% relates to general and administrative costs. 2 Of the total utilities, 75% relates to manufacturing and 25% relates to general and administrative costs. 3…
How does the format of the income statement for a manufacturing concern differ from the income statement of a merchandising business?
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View Policies Current Attempt in Progress The following data were taken from the records of Shamrock Company for the fiscal year ended June 30, 2022. Raw Materials Inventory 7/1/21 Raw Materials Inventory 6/30/22 Finished Goods Inventory 7/1/21 Finished Goods Inventory 6/30/22 Work in Process Inventory 7/1/21 Work in Process Inventory 6/30/22 Direct Labor Indirect Labor $50,400 39,900 99,600 20,600 27,300 20,100 148,350 25,660 Accounts Receivable Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Factory Manager's Salary Factory Property Taxes Factory Repairs Raw Materials Purchases Cash $28,000 5,500 18,100 30,100 8,650 562,100 5,300 64,900 9.610 2,200 98,700 38,200
What should go in this formula section of the spread sheet?
SHAMROCK COMPANY Balance Sheet (Partial) For the Year Ended June 30, 2022 ASSETS $ $ $
Prepare the Cost Statement for the year end February 2023 that shows the cost of goods manufactured and cost of sale using the the information provided
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The following information is available for ABC Company for the year ended December 31: Beginning raw materials inventory Raw materials purchases Ending raw materials inventory Direct labor expense What is the amount of direct materials used in production for the year? Multiple Choice $5,200. $7,500. $4,700. $8,900. $ 3,700 5,200 4,200 2,200
Required information [The following information applies to the questions displayed below.] Use the following selected account balances of Delray Manufacturing for the year ended December 31. . Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Indirect labor Repairs-Factory equipment Rent cost of factory building Selling expenses General and administrative expenses. Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending $ 1,200,000 52,000 68,000 88,000 239,000 287,000 43,000 34,000 68,000 109,000 174,000 62,000 82,000 106,000