Ch. 18 - Managerial Accounting - xBb 2193514+i learn-us-east-1-prod-fleet02-xythos.content.blackboardcdn.com/5f7ce11c673e5/2193514?X-Blackboard-Expiration=1648004400000&X-Blackboard-Signature=DUHfBVC7kn6FU8gu...* Ow WordCounter - Co...y! YahooA Regions Bank | Che..Welcome, Justin – B.* eBooks, Textbooks...O Jefferson State Co...Electronics, Cars, Fa...C Home | Chegg.com21935141 / 1100%+ |2. Prepare On Company's statement of cost of goods manufactured for December.3. Prepare On Company's income statement for December.PR 18-5B Statement of cost of goods manufactured and income statement for amanufacturing companyOBJ. 2, 3V1. Cost of goodsmanufactured,$367,510The following information is available for Shanika Company for 2014:January 1$ 77,350December 31Inventories$ 95,550MaterialsSPREADSHEETWork in process109,20096,2009volgm100,1001Finished goods113,750o quise nois$ 68,250Advertising expense22,750Depreciation expense-office equipmentDepreciation expense-factory equipment14,560186,550Direct labor5,850Heat, light, and power-factoryIndirect labor23,660Materials purchasedwan o123,50077,350Office salaries expense4,095Property taxes-factoryanohten13,650Sdo oo len với noiligab Property taxes-headquarters building6,825Rent expense-factorygo obt nib e baftilSales864,500do eoo d136,500Sales salaries expense3,250Supplies-factoryMiscellaneous costs-factory4,420Instructions1. Prepare the 2014 statement of cost of goods manufactured.2. Prepare the 2014 income statement.Cases & Projects6:17 PMO Type here to search日wRain coming3/22/2022*.....

Cost of Goods Manufactured: It is possible to compute a company's overall manufacturing expenses for…

PR 18-5B Statement of cost of goods manufactured and income statement for a OBJ. 2, 3 manufacturing company The following information is available for Shanika Company for 2014: December 31 Inventories Materials January 1 $ 77,350 $ 95,550 Work in process 109,200 96,200 Finished goods 113,750 100,100 $ 68,250 Advertising expense Depreciation expense-office equipment Depreciation expense-factory equipment 22,750 14,560 186,550 Direct labor 5,850 Heat, light, and power-factory 23,660 Indirect labor 123,500 Materials purchased 77,350 Office salaries expense 4,095 Property taxes-factory Property taxes-headquarters building Rent expense-factory Sales Sales salaries expense 13,650 6,825 864,500 136,500 3,250 Supplies-factory Miscellaneous costs-factory 4,420 epe e maeyea uny pa apa Instructions 1. Prepare the 2014 statement of cost of goods manufactured. 2. Prepare the 2014 income statement.

PR 18-5B Statement of cost of goods manufactured and income statement for a OBJ. 2, 3 manufacturing company The following information is available for Shanika Company for 2014: December 31 Inventories Materials January 1 $ 77,350 $ 95,550 Work in process 109,200 96,200 Finished goods 113,750 100,100 $ 68,250 Advertising expense Depreciation expense-office equipment Depreciation expense-factory equipment 22,750 14,560 186,550 Direct labor 5,850 Heat, light, and power-factory 23,660 Indirect labor 123,500 Materials purchased 77,350 Office salaries expense 4,095 Property taxes-factory Property taxes-headquarters building Rent expense-factory Sales Sales salaries expense 13,650 6,825 864,500 136,500 3,250 Supplies-factory Miscellaneous costs-factory 4,420 epe e maeyea uny pa apa Instructions 1. Prepare the 2014 statement of cost of goods manufactured. 2. Prepare the 2014 income statement.

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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21
Inventories January 1 January 31 Materials 302,000 278,000 Work in process 215,600 238,200 Finished goods 163,000 187,100 Direct labor Materials purchased during the month Factory overhead incurred during the month: Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs January 31 569,000 608,600 60,680 36,000 12,400 8,160 8,060 16,400 Prepare a cost of goods manufactured statement for January and determine the cost of goods sold for January.
Chapter 18 Introduction to Managerial Accounting 913 EX 18-12 Cost of direct materials used in production for a manufacturing OBJ. 4 company Okaboji Manufacturing Company reported the following materials data for the month ending November 30: Materials purchased $490,900 Materials inventory, November 1 64,900 Materials inventory, November 30 81,300 Determine the cost of direct materials used in production by Okaboji during the month ended November 30.
A-7
Question 9 of 17 Cullumber Company reported the following amounts for 2022: Manufacturing overhead costs applied Beginning work in process inventory Ending work in process inventory Cost of materials used in production $ (b) Calculate total manufacturing costs. Total manufacturing costs $ tA $108,800 +A 6,656 5.760 9,728 10,240 (a) Calculate the cost of materials used in production. 25,600 38,400 7,808 8,064
Question 23
Cost of Goods Manufactured for a Manufacturing Company Two items are omitted from each of the following three lists of cost of goods manufactured statement data. Determine the amounts of the missing items, identifying them by letter. Work in process inventory, August 1 $41,650 Total manufacturing costs incurred during August Total manufacturing costs Work in process inventory, August 31 Cost of goods manufactured a. $ b. C. C. 1. S $19,660 332,750 (0) 23,500 (b) (e) 1,075,000 1515,770 $1,240,000 54,000 ( (d) $1,068,000
Question: 2014 Date Explanation Debit Dec. Direct materials cost $1,250,000 31 31 Direct labor cost 31 Overhead costs $ 300,000 $400,000 31 To finished goods Credit Balance $1,250,000 $1,800,000 $2,400,000 $2,350,000 $50,000 1) Determine the overhead rate used (based on the direct material cost). 2) Only one job remained in the goods in process inventory at December 31, 2014. Its direct materials cost is $30,000. How much direct labor cost and overhead cost are assigned to it?
Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Johnstone Manufacturing Company for the month ended March 31 are as f Inventories March 1 March 31 Materials Work in process Finished goods $193,500 129,650 98,690 $166,410 111,490 113,160 Direct labor Materials purchased during March Factory overhead incurred during March: Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs Direct materials: $348,300 371,520 37,150 22,450 7,740 6,190 5,420 10,060 a. Prepare a cost of goods manufactured statement for March. Johnstone Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended March 31
Question 7 of 25 Current Attempt in Progress If the cost of direct materials used is $1700000 during a period, compute the total manufacturing costs using the information below. (Assume that all raw materials used were direct materials.) Raw materials inventory, January 1 Raw materials inventory, December 31 Work in process, January 1 Work in process, December 31 Finished goods, January 11 Finished goods, December 31 Raw materials purchases Direct labor Factory utilities Indirect labor Factory depreciation $20000 50000 27000 18000 60000 48000 1700000 690000 220000 75000 500000
31 Current information for the Healey Company follows: Beginning raw materials inventory Raw material purchases Ending raw materials inventory Beginning work in process inventory Ending work in process inventory Direct labor Total factory overhead $ 17,200 62,000 18,600 24,400 30,000 44,000 32,000 All raw materials used were direct materials. Healey Company's cost of goods manufactured for the year is:
Subject: acounting