Jimenez Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The following data are available for the year 2017. The numbers below repre- sent the calculations from the previous Try It! examples (6-1 through 6-4) together with the relevant schedule numbers from those examples. 6-! Revenues (Schedule 1) $925,000 Beginning inventory of finished goods (1-1-2017) Ending inventory of finished goods, 12-31-2017 (Schedule 6B) Direct materials used (Schedule 3A) Direct manufacturing labor (Schedule 4) Manufacturing overhead (Schedule 5) Variable marketing costs (4 % of revenues) Fixed marketing costs Variable distribution costs ($1.50 per cu. ft. for 30,000 cu. ft.) Fixed distribution costs 76,200 59,300 350,000 100,000 143,000 43,000 40,000 Fixed administration costs 75,000 Calculate (1) the cost of goods sold budget (label it Schedule 7); (2) the nonmanufactur- ing costs budget (label it Schedule 8); and (3) the operating income budget for the year ending December 31, 2017.
Jimenez Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The following data are available for the year 2017. The numbers below repre- sent the calculations from the previous Try It! examples (6-1 through 6-4) together with the relevant schedule numbers from those examples. 6-! Revenues (Schedule 1) $925,000 Beginning inventory of finished goods (1-1-2017) Ending inventory of finished goods, 12-31-2017 (Schedule 6B) Direct materials used (Schedule 3A) Direct manufacturing labor (Schedule 4) Manufacturing overhead (Schedule 5) Variable marketing costs (4 % of revenues) Fixed marketing costs Variable distribution costs ($1.50 per cu. ft. for 30,000 cu. ft.) Fixed distribution costs 76,200 59,300 350,000 100,000 143,000 43,000 40,000 Fixed administration costs 75,000 Calculate (1) the cost of goods sold budget (label it Schedule 7); (2) the nonmanufactur- ing costs budget (label it Schedule 8); and (3) the operating income budget for the year ending December 31, 2017.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
Transcribed Image Text:TUGAS KELOMPOK
Jimenez Corporation manufactures and sells two types of decorative lamps, Knox and
Ayer. The following data are available for the year 2017. The numbers below repre-
sent the calculations from the previous Try It! examples (6-1 through 6-4) together
with the relevant schedule numbers from those examples.
6-5
Revenues (Schedule 1)
$925,000
Beginning inventory of finished goods (1-1-2017)
Ending inventory of finished goods, 12-31-2017 (Schedule 6B)
Direct materials used (Schedule 3A)
76,200
59,300
350,000
Direct manufacturing labor (Schedule 4)
Manufacturing overhead (Schedule 5)
Variable marketing costs (4% of revenues)
Fixed marketing costs
100,000
143,000
43,000
Variable distribution costs (S1.50 per cu. ft. for 30,000 cu. ft.)
Fixed distribution costs
40,000
Fixed administration costs
75,000
Calculate (1) the cost of goods sold budget (label it Schedule 7); (2) the nonmanufactur-
ing costs budget (label it Schedule 8); and (3) the operating income budget for the year
ending December 31, 2017.
Expert Solution
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 3 steps
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
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
Expert Answers to Latest Homework Questions
Q: Question: In a GAN, which is the neural network that learns to distinguish the fake, generated data…
Q: What is the definition of vested in the constitution?
Q: Question: You would like to use the MNIST dataset for training a GAN. Which of these code snippets…
Q: Question: How is the architecture of a deep convolutional GAN set up?
Instruction: Choose the option…
Q: Question: Which is the objective of the discriminator in GANS?
Instruction: Choose all options that…
Q: Question: When working with deep convolutional GANS, which of these types of layers serve to reduce…
Q: Question: You have created a virtual environment called gans_venv. Which of these commands can you…
Q: Don't use Ai
Q: GANS have two components, or adversaries - the generator and discriminator. At the start of model…
Q: 1. French Production (35 points - all parts are worth 5 points apiece)
The following production…
Q: An adaptive approach to the SDLC is used when the exact requirements of a system or the users' needs…
Q: The three main activities of the Support phase include: Maintaining the system, Enhance the system…
Q: The phases of the Systems Development Life Cycle include Project Planning, Analysis, Design,…
Q: A circular ice rink is 30 m in diameter and is to be temporarily enclosed in a hemispherical dome
of…
Q: This is not a graded problem
Q: The Implementation phase results in the final system being built, tested, and installed. The…
Q: Please answer all parts
Q: Please answer all parts
Q: Please answer all parts
Q: The primary objective of the Analysis phase is to understand and document the business needs and the…
Q: do fast