Problem 9-7 (IAA) Sheraton Company reported the following information for the current year: Ending goods in process Depreciation on factory building Beginning raw materials Direct labor Factory supervisor's salary Depreciation on headquarters building Beginning goods in process Ending raw materials Indirect labor Purchases of raw materials Required: Prepare a statement of cost of goods manufactured. 1,000,000 320,000 400,000 1,980,000 560,000 210,000 760,000 340,000 360,000 2,300,000

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Chapter1: Financial Statements And Business Decisions
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Kindly provide the following requirement for problem 9-7.
Problem 9-7 (IAA)
Sheraton Company reported the following information for
the current year:
Ending goode in process
Depreciation on factory building
Beginning raw materials
Direct labor
Factory supervisor's salary
Depreciation on headquarters building
Beginning goods in process
Ending raw materials
Indirect labor
Purchases of raw materials
Required:
Prepare a statement of cost of goods manufactured.
Problem 9-8 (AICPA Adapted)
Kay Company provided the following information for the
current year:
Increase in raw materials inventory
Decrease in goods in process inventory
Decrease in finished goods inventory
Raw materials purchased
Direct labor payroll
Factory overhead
Freight out
Freight in
1,000,000
320,000
400,000
1,980,000
Required:
Prepare a statement of cost of goods sold.
560,000
210,000
760,000
340,000
360,000
2,300,000
150,000
200,000
350,000
4,300,000
2,000,000
3,000,000
450,000
250,000
Transcribed Image Text:Problem 9-7 (IAA) Sheraton Company reported the following information for the current year: Ending goode in process Depreciation on factory building Beginning raw materials Direct labor Factory supervisor's salary Depreciation on headquarters building Beginning goods in process Ending raw materials Indirect labor Purchases of raw materials Required: Prepare a statement of cost of goods manufactured. Problem 9-8 (AICPA Adapted) Kay Company provided the following information for the current year: Increase in raw materials inventory Decrease in goods in process inventory Decrease in finished goods inventory Raw materials purchased Direct labor payroll Factory overhead Freight out Freight in 1,000,000 320,000 400,000 1,980,000 Required: Prepare a statement of cost of goods sold. 560,000 210,000 760,000 340,000 360,000 2,300,000 150,000 200,000 350,000 4,300,000 2,000,000 3,000,000 450,000 250,000
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