Homework Help is Here – Start Your Trial Now!
Business
Accounting
Insurance of office equipment Supplies used ( 3/5 used in the office) 1,200 675 Factory insurance 350 Commissions paid Factory supervision 2,500 2,225 Direct labor cost 10,500 Advertising 1800 Depreciation of Delivery Van 3,650 Raw materials purchases 15,000 Material handling Work-in-process inventory, December 31, 2021 Work-in-process inventory, December 31, 2022 Finished goods inventory, December 31, 2021 Finished goods inventory, December 31, 2022 Materials inventory, December 31, 2021 Materials inventory, December 31, 2022 3,500 13,700 15,2b0 6,800 5,100 4,500 8,700

Insurance of office equipment Supplies used ( 3/5 used in the office) 1,200 675 Factory insurance 350 Commissions paid Factory supervision 2,500 2,225 Direct labor cost 10,500 Advertising 1800 Depreciation of Delivery Van 3,650 Raw materials purchases 15,000 Material handling Work-in-process inventory, December 31, 2021 Work-in-process inventory, December 31, 2022 Finished goods inventory, December 31, 2021 Finished goods inventory, December 31, 2022 Materials inventory, December 31, 2021 Materials inventory, December 31, 2022 3,500 13,700 15,2b0 6,800 5,100 4,500 8,700

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Hi, can someone help me with this? I need to generate COGS, COGM AND OPERATING INCOME. Thank you.

Insurance of office equipment 1,200 Supplies used ( 3/5 used in the office) 675 Factory insurance 350 Commissions paid 2,500 Factory supervision 2,225 Direct labor cost 10,500 Advertising 1800 Depreciation of Delivery Van 3,650 Raw materials purchases Material handling 15,000 3,500 Work-in-process inventory, December 31, 2021 13,700 Work-in-process inventory, December 31, 2022 15,250 Finished goods inventory, December 31, 2021 6,800 Finished goods inventory, December 31, 2022 5,100 Materials inventory, December 31, 2021 4,500 Materials inventory, December 31, 2022 8,700
Transcribed Image Text:Insurance of office equipment 1,200 Supplies used ( 3/5 used in the office) 675 Factory insurance 350 Commissions paid 2,500 Factory supervision 2,225 Direct labor cost 10,500 Advertising 1800 Depreciation of Delivery Van 3,650 Raw materials purchases Material handling 15,000 3,500 Work-in-process inventory, December 31, 2021 13,700 Work-in-process inventory, December 31, 2022 15,250 Finished goods inventory, December 31, 2021 6,800 Finished goods inventory, December 31, 2022 5,100 Materials inventory, December 31, 2021 4,500 Materials inventory, December 31, 2022 8,700
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS