Required information [The following information applies to the questions displayed below.] Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1. Inventory Classification Raw material Work in process Finished goods January 1, 20x1 $ 50,000 120,000 170,000 December 31, 20x1 $ 70,000 115,000 165,000 During 20x1, the company purchased $250,000 of raw material and spent $400,000 on direct labor. Manufacturing overhead costs were as follows: Indirect material Indirect labor Depreciation on plant and equipment Utilities 24 12,000 26,000 100,000 26,000 30,000 Other Sales revenue was $1,110,000 for the year. Selling and administrative expenses for the year amounted to $110,000. The- firm's tax rate is 40 percent.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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ALEXANDRIA ALUMINUM COMPANY
Schedule of Cost of Goods Manufactured
For the Year Ended December 31, 20x1
Direct material:
Manufacturing overhead:
Total manufacturing overhead
Total manufacturing costs
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Transcribed Image Text:Saved Required information ALEXANDRIA ALUMINUM COMPANY Schedule of Cost of Goods Manufactured For the Year Ended December 31, 20x1 Direct material: Manufacturing overhead: Total manufacturing overhead Total manufacturing costs < Prev 5. 6. 7. of 9
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Required information
[The following information applies to the questions displayed below.]
Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the
beginning and end of 20x1.
Inventory Classification
Raw material
Work in process
Finished goods
January 1, 20x1
$ 50,000
120,000
170, 000
December 31, 20x1
$ 70,000
115,000
165,000
Durjng 20x1, the company purchased $250,000 of raw material and spent $400,000 on direct labor. Manufacturing
overhead costs were as follows:
Indirect material
Indirect labor
Depreciation on plant and equipment
Utilities
24
12,000
26,000
100,000
26, 000
30,000
Other
Sales revenue was $1,110,000 for the year. Selling and administrative expenses for the year amounted to $110,000. The
firm's tax rate is 40 percent.
Required:
7.
of 9
Next >
< Prev
6.
Transcribed Image Text:! Required information [The following information applies to the questions displayed below.] Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1. Inventory Classification Raw material Work in process Finished goods January 1, 20x1 $ 50,000 120,000 170, 000 December 31, 20x1 $ 70,000 115,000 165,000 Durjng 20x1, the company purchased $250,000 of raw material and spent $400,000 on direct labor. Manufacturing overhead costs were as follows: Indirect material Indirect labor Depreciation on plant and equipment Utilities 24 12,000 26,000 100,000 26, 000 30,000 Other Sales revenue was $1,110,000 for the year. Selling and administrative expenses for the year amounted to $110,000. The firm's tax rate is 40 percent. Required: 7. of 9 Next > < Prev 6.
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