Accounting for Cost Flows 163General and administrative costs (nonplant)Direct material usedFinished goods inventory, December 31, 20X1Depreciation of plant equipmentPlant repairs and maintenanceWork in process inventory, January 1, 20X1Direct manufacturing laborIndirect manufacturing laborIndirect materials usedMiscellaneous plant overhead43,00087,00034,000ing11,00016,00020,00034,00023,00011,0004,000Exercise 6 (Cost of goods manufactured) 3. What information might Tanaka use to change two items inrequirement 2 to be direct-cost items rather than manufacturingoverhead cost items?Exercise 5 (Cost of goods manufactured and sold)Compute cost of goods manufactured and cost of goods sold from thefollowing account balances relating to 20X1 (in thousands):Property tax on plant buildingMarketing, distribution, and customer- service costsFinished goods inventory, January 1, 20X1Plant utilitiesWork in process inventory December 31, 20X1Depreciation of plant buildingP 3,00037,00027,00017,00026,0009,000

The cost of goods manufactured includes the cost incurred on production and cost of goods sold…

Exercise 5 (Cost of goods manufactured and sold) Compute cost of goods manufactured and cost of goods sold from the ollowing account balances relating to 20X1 (in thousands): Property tax on plant building Marketing, distribution, and customer- service costs Finished goods inventory, January 1, 20X1 Plant utilities P 3,000 37,000 27,000 17,000 26,000 9,000 Work in process inventory December 31, 20X1 Depreciation of plant building

Exercise 5 (Cost of goods manufactured and sold) Compute cost of goods manufactured and cost of goods sold from the ollowing account balances relating to 20X1 (in thousands): Property tax on plant building Marketing, distribution, and customer- service costs Finished goods inventory, January 1, 20X1 Plant utilities P 3,000 37,000 27,000 17,000 26,000 9,000 Work in process inventory December 31, 20X1 Depreciation of plant building

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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