Can I get the answer in a clear organized way please. Thank you! Question 4 of 12< >View Policies- / 12.5E :Current Attempt in ProgressFrom the account balances listed below, prepare a schedule of cost of goods manufactured for Sheridan Manufacturing Company forthe month ended December 31, 2025. (Assume all raw materials used were direct materials.)AccountBalancesFinished Goods Inventory, December 31$47,880Factory Supervisory Salaries13,680Income Tax Expense20,520Raw Materials Inventory, December 113,680Work In Process Inventory, December 3117,100Sales Salaries Expense15,960Factory Depreciation Expense9,120Finished Goods Inventory, December 139,900Raw Materials Purchases119,700Work In Process Inventory, December 128,500Factory Utilities Expense6,840Direct Labor79,800Raw Materials Inventory, December 3121,660Sales Returns and Allowances5,700Indirect Labor23,940 Question 4 of 12< >Indirect Labor<>=<>><><><><>23,940SHERIDAN MANUFACTURING COMPANYCost of Goods Manufactured Schedule$$+A$- / 12.5$$

Explanation: In the given case, we are required to calculate the cost of goods manufactured from the…

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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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View Policies Current Attempt in Progress The following data has been taken from the accounting records of Curtis Manufacturing Company for the current year: Sales Purchases of direct materials Direct labor cost during period Manufacturing overhead applied during period Direct Materials Inventory, beginning Direct Materials Inventory, ending Work in Process Inventory, beginning Work in Process Inventory, ending Finished Goods Inventory, beginning Finished Goods Inventory, ending (a) Direct materials used in production eTextbook and Media $600,000 Save for Later 350,000 120,000 60,000 20,000 25,000 47,000 32,000 Compute the cost of direct materials moved into production during the period. 75,000 82,000 Attempts: 0 of 4 used Submit Answer (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.
View Policies Current Attempt in Progress The following data were taken from the records of Shamrock Company for the fiscal year ended June 30, 2022. Raw Materials Inventory 7/1/21 Raw Materials Inventory 6/30/22 Finished Goods Inventory 7/1/21 Finished Goods Inventory 6/30/22 Work in Process Inventory 7/1/21 Work in Process Inventory 6/30/22 Direct Labor Indirect Labor $50,400 39,900 99,600 20,600 27,300 20,100 148,350 25,660 Accounts Receivable Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Factory Manager's Salary Factory Property Taxes Factory Repairs Raw Materials Purchases Cash $28,000 5,500 18,100 30,100 8,650 562,100 5,300 64,900 9.610 2,200 98,700 38,200
Cost of Materials Issuances Under the FIFO Method An incomplete subsidiary ledger of materials inventory for May is as follows: a. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO. Received Issued Receiving Report Quantity Number 23 29 Feedback 220 150 Unit Price $10 12 Materials Requisition Quantity Number 103 116 360 210 Amount b. Determine the materials inventory balance at the end of May. 37,080 X Date May 1 May 4 May 10 May 21 May 27 Quantity 320 320 220 Balance Check My Work a Calculate the amount of each materials issue, using FIFO. In the Balance section, separate each different unit price and its quantity Unit price $8 8 10 Amount $2,560 2,560✔ 2,200✔
< CDOOR a. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO. Received Receiving Report Number Received Quantity Received Unit Price Issued Materials Requisition Number Balance Issued Quantity Issued Balance Balance Unit Balance Amount Date Quantity price Amount May 1 230 $8 $1,840 27 160 $10 May 4 104 260 33 110 12 117 150 b. Determine the materials inventory balance at the end of May. A May 10 May 21 May 27 c. Journalize the summary entry to transfer materials to work in process. If an amount box does not require an entry, leave it blank. d. Comparing causes idle time. as reported in the materials ledger with predetermined order points would enable management to order materials before a(n)
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What is the Correct option ? General accounting question
Cost of Materials Issuances Under the FIFO Method An incomplete subsidiary ledger of materials inventory for May is as follows: a. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO. Received Receiving Report Number 40 44 Quantity 130 d. Comparing 110 Unit Price $32.00 38.00 Materials Requisition Number 91 97 b. Determine the materials inventory balance at the end of May. Issued Quantity 365 100 Amount Date May 1 May 4 May 10 May 21 May 27 Quantity 285 Balance c. Journalize the summary entry to transfer materials to work in process. If an amount box does not require an entry, leave blank. 88 Unit price $30.00 Amount $8,550 as reported in the materials ledger with predetermined order points would enable management to order materials before a(n) causes idle time.
5
Cost of materials issuances under the FIF0 method Instructions Chart of Accounts Materials Inventory Journal Final Question Instructions X. An incomplete subsidiary ledger of materials inventory for May is as follows: RECEIVED ISSUED BALANCE Receiving Materials Report Unit Requisition Unit Number Quantity Price Number Quantity Amount Date Quantity Price Amount May 1 284 $30.00 $8,520 139 $32.90 May 4 91 373 May 10 44 117 38.80 May 21 97 100 May 27 Required: A. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO. Round your unit price answers to two decimal places and final answers to the nearest dollar. B. Determine the materials inventory balance at the end of May. Round your answer to the nearest dollar. C. Journalize the summary entry on May 31 to transfer materials to work in process. Refer to the Chart of Accounts for exact wording of account titles. Round your answers to the nearest dollar. D. Explain how the materials ledger might be used…
Cost of Materials Issuances Under the FIFO Method An incomplete subsidiary ledger of materials inventory for May is as follows: a. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO. Received Receiving Report Number 21 27 Quantity 240 d. Comparing 160 Unit Price $8 10 Materials Requisition Number 107 120 Issued Quantity b. Determine the materials inventory balance at the end of May. 380 230 Amount Date May 1 May 4 May 10. May 21 May 27 Quantity 340 Balance c. Journalize the summary entry to transfer materials to work in process. If an amount box does not require an entry, leave it blank. Unit price $6 Amount $2,040 as reported in the materials ledger with predetermined order points would enable management to order materials before a(n)( causes idle time.
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