Hw.223. 0000s The following data were taken from the records of Splish Brothers Company for the fiscal year ended June 30, 2022Raw Materials Inventory 7/1/21Raw Materials Inventory 6/30/22Finished Goods Inventory 7/1/21Finished Goods Inventory 6/30/22Work in Process Inventory 7/1/21Work in Process Inventory 6/30/22Direct LaborIndirect Labor$58.10046,60099,70021,90021,20029,400147,55025,360Accounts ReceivableFactory InsuranceFactory Machinery DepreciationFactory UtilitiesOffice Utilities ExpenseSales RevenueSales DiscountsFactory Manager's SalaryFactory Property TaxesFactory RepairsRaw Materials PurchasesCashCost of Goods Manufactured Schedule$28,0004,80017,10029.4009,350560,5004,70063,4009,9102,50097,30039,200

Lets understand the basics. Entity prapares cost of goods manufactued schedule in order to calculate…

ished Goods Inventory 7/1/21 nished Goods Inventory 6/30/22 Work in Process Inventory 7/1/21 Work in Process Inventory 6/30/22 rect Labor direct Labor 99,700 21,900 21,200 29,400 147,550 25,360 Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Factory Manager's Salary Factory Property Taxes Factory Repairs 17,100 29,400 9,350 560,500 4,700 63,400 9,910 2,500

ished Goods Inventory 7/1/21 nished Goods Inventory 6/30/22 Work in Process Inventory 7/1/21 Work in Process Inventory 6/30/22 rect Labor direct Labor 99,700 21,900 21,200 29,400 147,550 25,360 Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Factory Manager's Salary Factory Property Taxes Factory Repairs 17,100 29,400 9,350 560,500 4,700 63,400 9,910 2,500

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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