For the year ended December 31, 2022, the job cost sheets of Carla Vista Company contained the following data. Job Number 7640 7641 7642 Other data: 1. 2. 3. 4. 5. 6. 7. Explanation Balance 1/1 Current year's costs Balance 1/1 Current year's costs Current year's costs Direct Materials $29,500 35,400 12,980 50,740 68,440 Direct Labor $28,320 42,480 21,240 56,640 64,900 Manufacturing Overhead Total Costs $91,804 $33,984 50,976 25,488 67.968 175,348 77,880 211.220 128,856 59,708 Raw materials inventory totaled $17,700 on January 1. During the year, $165,200 of raw materials were purchased on account. Finished goods on January 1 consisted of Job No. 7638 for $102,660 and Job No. 7639 for $108,560. Job No. 7640 and Job No. 7641 were completed during the year. Job Nos. 7638,7639, and 7641 were sold on account for $625,400. Manufacturing overhead incurred on account totaled $141,600. Incurred depreciation on factory machinery $9,440. Assigned indirect materials of $16,520 and indirect labor of $21,240.
For the year ended December 31, 2022, the job cost sheets of Carla Vista Company contained the following data. Job Number 7640 7641 7642 Other data: 1. 2. 3. 4. 5. 6. 7. Explanation Balance 1/1 Current year's costs Balance 1/1 Current year's costs Current year's costs Direct Materials $29,500 35,400 12,980 50,740 68,440 Direct Labor $28,320 42,480 21,240 56,640 64,900 Manufacturing Overhead Total Costs $91,804 $33,984 50,976 25,488 67.968 175,348 77,880 211.220 128,856 59,708 Raw materials inventory totaled $17,700 on January 1. During the year, $165,200 of raw materials were purchased on account. Finished goods on January 1 consisted of Job No. 7638 for $102,660 and Job No. 7639 for $108,560. Job No. 7640 and Job No. 7641 were completed during the year. Job Nos. 7638,7639, and 7641 were sold on account for $625,400. Manufacturing overhead incurred on account totaled $141,600. Incurred depreciation on factory machinery $9,440. Assigned indirect materials of $16,520 and indirect labor of $21,240.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![For the year ended December 31, 2022, the job cost sheets of Carla Vista Company contained the following data.
Job
Number
7640
7641
7642
Other data:
1.
2.
3.
4.
5.
6.
7.
Explanation
Balance 1/1
Current year's costs
Balance 1/1
Current year's costs
Current year's costs
Direct
Materials.
$29,500
35,400
12,980
50,740
68,440
Direct
Labor
$28,320
42,480
21,240
56,640
64,900
Manufacturing
Overhead
Total
Costs
25,488
$91,804
$33,984
50,976 128,856
59,708
67.968 175,348
77,880
211.220
Raw materials inventory totaled $17,700 on January 1. During the year, $165,200 of raw materials were purchased on account.
Finished goods on January 1 consisted of Job No. 7638 for $102,660 and Job No. 7639 for $108,560.
Job No. 7640 and Job No. 7641 were completed during the year.
Job Nos. 7638,7639, and 7641 were sold on account for $625,400.
Manufacturing overhead incurred on account totaled $141,600.
Incurred depreciation on factory machinery $9,440.
Assigned indirect materials of $16,520 and indirect labor of $21,240.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe2d8bd87-a7b3-4179-b62c-44ece0415739%2F0000b1b7-0b2a-479f-bf35-465ed9011c6a%2Fouqzyxc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:For the year ended December 31, 2022, the job cost sheets of Carla Vista Company contained the following data.
Job
Number
7640
7641
7642
Other data:
1.
2.
3.
4.
5.
6.
7.
Explanation
Balance 1/1
Current year's costs
Balance 1/1
Current year's costs
Current year's costs
Direct
Materials.
$29,500
35,400
12,980
50,740
68,440
Direct
Labor
$28,320
42,480
21,240
56,640
64,900
Manufacturing
Overhead
Total
Costs
25,488
$91,804
$33,984
50,976 128,856
59,708
67.968 175,348
77,880
211.220
Raw materials inventory totaled $17,700 on January 1. During the year, $165,200 of raw materials were purchased on account.
Finished goods on January 1 consisted of Job No. 7638 for $102,660 and Job No. 7639 for $108,560.
Job No. 7640 and Job No. 7641 were completed during the year.
Job Nos. 7638,7639, and 7641 were sold on account for $625,400.
Manufacturing overhead incurred on account totaled $141,600.
Incurred depreciation on factory machinery $9,440.
Assigned indirect materials of $16,520 and indirect labor of $21,240.
![(c).
Prepare an income statement through gross profit for 2022.
11.1
CARLA VISTA COMPANY
Income Statement (partial)
$
V
$
$](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe2d8bd87-a7b3-4179-b62c-44ece0415739%2F0000b1b7-0b2a-479f-bf35-465ed9011c6a%2Fn1i1wy5_processed.jpeg&w=3840&q=75)
Transcribed Image Text:(c).
Prepare an income statement through gross profit for 2022.
11.1
CARLA VISTA COMPANY
Income Statement (partial)
$
V
$
$
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education