Ex) The following data were taken from the records of Santana company for the operating year ended in 31/12/2006 -Beginning raw materials inventory 7000 -Beginning work in process inventory 12000 -Purchases of raw materials 75000 -Purchases returns 1100 -Purchases allowance 900 -Purchases discounts 500 -Purchases expenses 2000 -Direct labor 66000 -Indirect materials 5500 -Indirect labor 8000 -Depreciation-Machinery 9000 -Maintenance-Machinery 11000 -Electricity 6500 -Heating and lighting 4000 -Ending raw materials inventory 14000 -Ended work in process inventory 9000 Ins :- 1-Prepare manufacturing account for the year ending in 31/12/2006 2-Prepare manufacturing statement for the year ending in 31/12/2006.

Ex) The following data were taken from the records of Santana company for the operating year ended in 31/12/2006 -Beginning raw materials inventory 7000 -Beginning work in process inventory 12000 -Purchases of raw materials 75000 -Purchases returns 1100 -Purchases allowance 900 -Purchases discounts 500 -Purchases expenses 2000 -Direct labor 66000 -Indirect materials 5500 -Indirect labor 8000 -Depreciation-Machinery 9000 -Maintenance-Machinery 11000 -Electricity 6500 -Heating and lighting 4000 -Ending raw materials inventory 14000 -Ended work in process inventory 9000 Ins :- 1-Prepare manufacturing account for the year ending in 31/12/2006 2-Prepare manufacturing statement for the year ending in 31/12/2006.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Coronado Industries's accounting records reflect the following inventories: Raw materials inventory Work in process inventory Finished goods inventory Dec. 31, 2020 O $2050000. $1910000. $2110000. $2010000. $310000 300000 190000 Dec. 31, 2019 $250000 160000 150000 During 2020, $800000 of raw materials were purchased, direct labor costs amounted to $670000, and manufacturing overhead incurred was $640000. Coronado Industries's total manufacturing costs incurred in 2020 amounted to
Please do not give solution in image format thanku
The balances in the perpetual inventory accounts of Anditon Manufacturing Corporation at the beginning and end of the current year are as follows: Inventory accounts: Materials Work in Process Finished Goods Inventory Account: Materials Inventory Direct Labor The total dollar amounts debited and credited during the year to the accounts used in recording manufacturing activities are as follows: Manufacturing Overhead Work in Process Inventory Finished Goods Inventory End of Year $ 126,000 109,000 325,000 Beginning of Year $ 222,000 75,000 238,000 Required A Required B Debit Entries $ 2,410,000 1,189,000 893,600 ? ? Credit Entries Required: a. Using these data, compute direct materials purchased, direct materials used, payments of direct labor payrolls, direct labor cost assigned to production, total manufacturing costs charged to the work in process inventory account during the year, the cost of finished goods manufactured, cost of goods sold, the total amount to be classified as…
Sheffield Corp!'s accounting records reflect the following inventories: Raw materials inventory Work in process inventory Finished goods inventory Dec. 31, 2021 O $1420000 O $1408000 O $1309000 O $1315000 $200000 276000 270000 Dec. 31, 2022 $101000 294000 258000 During 2022, Sheffield purchased $910000 of raw materials, incurred direct labor costs of $175000, and incurred manufacturing overhead totaling $224000. How much is total manufacturing costs incurred during 2022 for Sheffield?
Adelphia Manufacturing issued $70,000 of direct materials and $9,000 of indirect materials for production. Which of the following journal entries would correctly record the transaction? O A. Work-in- Process Inventory Raw Materials Inventory B. Manufacturing Overhead Raw Materials Inventory OC. Work-in - Process Inventory Manufacturing Overhead Raw Materials Inventory D. Raw Materials Inventory Finished Goods Inventory Work-in - Process Inventory 79,000 79,000 70,000 9,000 79,000 79,000 79,000 79,000 70,000 9,000