Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct materials WATERWAY COMPANY Cost of Goods Manufactured Schedule Work in Process Inventory July 1, 2019 Direct Materials Raw Materiah Inventory, July 1, 2019 Raw Materials Purchases Total Raw Materials Available for Use Raw Materials Inventory June 30, 2020 Direct Materials Used 51100 97500 140400 46000 28600

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Current Attempt in Progress
The following data were taken from the records of Waterway Company for the fiscal year ended June 30, 2020.
Raw Materials Inventory 7/1/19
Raw Materials Inventory 6/30/20
Finished Goods Inventory 7/1/19
Finished Goods Inventory 6/30/20
Work in Process Inventory 7/1/19
Work in Process Inventory 6/30/20
Direct Labor
Indirect Labor
Accounts Receivable
G
$51,100
46,000
98,200
26,100
26,800
22,300
147,750
26,560
27,100
Factory Insurance
Factory Machinery Depreciation
Factory Utilities
Office Utilities Expense
Sales Revenue
Sales Discounts
Plant Manager's Salary
Factory Property Taxes
Factory Repairs
Raw Materials Purchases
Cash
$4,700
19,000
29,100
9,350
564,000
4,700
65,600
9,810
1,600
97,500
35,600
Transcribed Image Text:Current Attempt in Progress The following data were taken from the records of Waterway Company for the fiscal year ended June 30, 2020. Raw Materials Inventory 7/1/19 Raw Materials Inventory 6/30/20 Finished Goods Inventory 7/1/19 Finished Goods Inventory 6/30/20 Work in Process Inventory 7/1/19 Work in Process Inventory 6/30/20 Direct Labor Indirect Labor Accounts Receivable G $51,100 46,000 98,200 26,100 26,800 22,300 147,750 26,560 27,100 Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Plant Manager's Salary Factory Property Taxes Factory Repairs Raw Materials Purchases Cash $4,700 19,000 29,100 9,350 564,000 4,700 65,600 9,810 1,600 97,500 35,600
n
Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct materials)
Work in Process Inventory July 1, 2019
Direct Materials
Raw Materiah Inventory July 1, 2019
Raw Materials Purchases
Total Raw Materials Available for Use
Direct Materials Used
Manufacturing Overhead
Direct Labor
Factory Insurance
Factory Utilities
Raw Materials Inventory, June 30, 2020
Indirect Labor
Factory Machinery Depreciation
Factory Repairs
Plant Manager's Salary
Factory Property Taxes
Total Manufacturing Overhead
Total Manufacturing Costs
Total Cost of Work in Process Inventory
Work in Process Inventory, June 30, 2020
Cost of Goods Manufactured
WATERWAY COMPANY
Cost of Goods Manufactured Schedule
51100
140400
46000
147750
(b)
The parts of this question must be completed in order. This part will be available when you complete the part above.
(c)
The parts of this question must be completed in order. This part will be available when you complete the part above.
28600
Transcribed Image Text:n Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct materials) Work in Process Inventory July 1, 2019 Direct Materials Raw Materiah Inventory July 1, 2019 Raw Materials Purchases Total Raw Materials Available for Use Direct Materials Used Manufacturing Overhead Direct Labor Factory Insurance Factory Utilities Raw Materials Inventory, June 30, 2020 Indirect Labor Factory Machinery Depreciation Factory Repairs Plant Manager's Salary Factory Property Taxes Total Manufacturing Overhead Total Manufacturing Costs Total Cost of Work in Process Inventory Work in Process Inventory, June 30, 2020 Cost of Goods Manufactured WATERWAY COMPANY Cost of Goods Manufactured Schedule 51100 140400 46000 147750 (b) The parts of this question must be completed in order. This part will be available when you complete the part above. (c) The parts of this question must be completed in order. This part will be available when you complete the part above. 28600
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