faonmoom blla ten Marching Ants Inc. Manufacturing Costs For the Quarter Ended June 30 Materials used in production (including $56,200 of indirect materials)... . . Direct labor (including $84,400 maintenance salaries). Factory overhead: $ 607,500 562,500 Supervisor salaries. Heat, light, and power. 517,500 140,650 Sales salaries.. 348,750 Promotional expenses.... 315,000 Insurance and property taxes-plant 151,900 pc coter Btoncr 219,400 Insurance and property taxes-corporate offices. Depreciation-plant and equipment Depreciation-corporate offices 123,750 90,000 (bwo couA Total .. $3,076,950 ఏం EX 18-10 OBJ. 4 Financial statements of a manufacturing firm Va. Net income, $145,000 The following events took place for Digital Vibe Manufacturing Company during January, A the first month of its operations as a producer of digital video monitors: e O oil ylds a. Purchased $168,500 of materials. -> Show Me How b. Used $149,250 of direct materials in production. C. Incurred $360,000 of direct labor wages. d. Incurred $120,000 of factory overhead. e. Transferred $600,000 of work in process to finished goods. eanto to a f. Sold goods for $875,000. g. Sold goods with a cost of $525,000. h. Incurred $125,000 of selling expense. i. Incurred $80,000 of administrative expense. Using the information given, complete the following: a. Prepare the January income statement for Digital Vibe Manufacturing Company. b. Determine the Materials Inventory, Work in Process Inventory, and Finished Goods Inventory balances at the end of the first month of operations. OBJ. EX 18-11 Manufacturing company balance sheet Additives Company at August 31 are as follows:
faonmoom blla ten Marching Ants Inc. Manufacturing Costs For the Quarter Ended June 30 Materials used in production (including $56,200 of indirect materials)... . . Direct labor (including $84,400 maintenance salaries). Factory overhead: $ 607,500 562,500 Supervisor salaries. Heat, light, and power. 517,500 140,650 Sales salaries.. 348,750 Promotional expenses.... 315,000 Insurance and property taxes-plant 151,900 pc coter Btoncr 219,400 Insurance and property taxes-corporate offices. Depreciation-plant and equipment Depreciation-corporate offices 123,750 90,000 (bwo couA Total .. $3,076,950 ఏం EX 18-10 OBJ. 4 Financial statements of a manufacturing firm Va. Net income, $145,000 The following events took place for Digital Vibe Manufacturing Company during January, A the first month of its operations as a producer of digital video monitors: e O oil ylds a. Purchased $168,500 of materials. -> Show Me How b. Used $149,250 of direct materials in production. C. Incurred $360,000 of direct labor wages. d. Incurred $120,000 of factory overhead. e. Transferred $600,000 of work in process to finished goods. eanto to a f. Sold goods for $875,000. g. Sold goods with a cost of $525,000. h. Incurred $125,000 of selling expense. i. Incurred $80,000 of administrative expense. Using the information given, complete the following: a. Prepare the January income statement for Digital Vibe Manufacturing Company. b. Determine the Materials Inventory, Work in Process Inventory, and Finished Goods Inventory balances at the end of the first month of operations. OBJ. EX 18-11 Manufacturing company balance sheet Additives Company at August 31 are as follows:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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18-10 letters A and B with explanations please
Transcribed Image Text:faonmoom blla
ten
Marching Ants Inc.
Manufacturing Costs
For the Quarter Ended June 30
Materials used in production (including
$56,200 of indirect materials)... . .
Direct labor (including $84,400 maintenance salaries).
Factory overhead:
$ 607,500
562,500
Supervisor salaries.
Heat, light, and power.
517,500
140,650
Sales salaries..
348,750
Promotional expenses....
315,000
Insurance and property taxes-plant
151,900
pc coter Btoncr
219,400
Insurance and property taxes-corporate offices.
Depreciation-plant and equipment
Depreciation-corporate offices
123,750
90,000
(bwo couA
Total ..
$3,076,950
ఏం
EX 18-10
OBJ. 4
Financial statements of a manufacturing firm
Va. Net income,
$145,000
The following events took place for Digital Vibe Manufacturing Company during January,
A the first month of its operations as a producer of digital video monitors:
e O oil ylds a. Purchased $168,500 of materials.
->
Show
Me
How
b. Used $149,250 of direct materials in production.
C. Incurred $360,000 of direct labor wages.
d. Incurred $120,000 of factory overhead.
e. Transferred $600,000 of work in process to finished goods.
eanto to a
f. Sold goods for $875,000.
g. Sold goods with a cost of $525,000.
h. Incurred $125,000 of selling expense.
i. Incurred $80,000 of administrative expense.
Using the information given, complete the following:
a. Prepare the January income statement for Digital Vibe Manufacturing Company.
b. Determine the Materials Inventory, Work in Process Inventory, and Finished Goods
Inventory balances at the end of the first month of operations.
OBJ.
EX 18-11 Manufacturing company balance sheet
Additives Company at August 31 are as follows:
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