Goods inventory for January Ringa Clothing Company manufactures quality boating attire. The following selectedfinancial information for the fiscal year 2018 is provided:ItemSalesCost of Goods ManufacturedDirect Material PurchasedFactory OverheadWork in Process-January 1Work in Process-December 31Direct Material-December 31Amount$200,00062,00080,00025,00064,00030,00020,000Finished Goods Inventory-December 31 75,000Net IncomeDirect Materials usedCost of Goods Sold30,00063,00072,000Use this information to determine the dollar amount of Ringa Clothing's FinishedGoods Inventory for January 1, 2018.

Concept of Cost of Goods Manufactured (COGM)The Cost of Goods Manufactured (COGM) refers to the…

Answered: Ringa Clothing Company manufactures…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 2SEA: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Maupin...

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SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Sanchez Welding and Manufacturing Company. Prepare a schedule of cost of goods manufactured for the year ended December 31, 20--. Assume that all materials inventory items are direct materials. Work in process, January 1 20,500 Materials inventory, January 1 11,000 Materials purchases 12,000 Materials inventory, December 31 13,000 Direct labor 9,500 Overhead 5,500 Work in process, December 31 10,500
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Annapolis Company manufactures quality boating apparel. The following selected financial information for the fiscal year 2018 is provided: Item Sales Beginning Raw Material Inventory Direct Material Purchased Factory Overhead Finished Goods Inventory - January 1 Work in Process - January 1 Work in Process - December 31 Ending Raw Material Inventory Finished Goods Inventory - December 31 Net Income Direct Labor Cost of Goods Sold Amount $ 8,50,000 $ $ 74,000 $ 3,08,000 $ 90,000 $ 1,44,000 $ 74,000 $ 98,000 $ 58,000 $ 1,68,000 $65,000 $ 1,55,000 $ 6,55,000 Use this information to prepare a detailed Schedule of Costs of Goods Manufactured for FY 2018.
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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
An incomplete cost of goods manufactured schedule is presented here.Complete the cost of goods manufactured schedule for Splish Brothers Company. (Assume that all raw materials used were direct materials.) SPLISH BROTHERS COMPANYCost of Goods Manufactured ScheduleFor the Year Ended December 31, 2022 Work in process, January 1 $243,600 Direct materials Raw materials inventory, January 1 $enter a dollar amount Raw materials purchases 184,000 Total raw materials available for use enter a total of the two previous amounts Less: Raw materials inventory, December 31 27,000 Direct materials used $208,800 Direct labor enter a dollar amount Manufacturing overhead Indirect labor 21,600 Factory depreciation 41,400 Factory utilities 79,600 Total manufacturing overhead 142,600 Total…
The following data were taken from the records of Larkspur Company for the fiscal year ended June 30, 2025. Raw Materials Inventory 7/1/24 Raw Materials Inventory 6/30/25 Finished Goods Inventory 7/1/24 Finished Goods Inventory 6/30/25 Work in Process Inventory 7/1/24 Work in Process Inventory 6/30/25 Direct Labor Indirect Labor $57,500 41,500 96,300 22,100 21,300 28.200 142,650 26,760 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 $29,900 4,900 17,000 31.100 8,550 561,300. 4,300 65,100 9.610 1,500 99,400 42.100
Use the information below for the year ended December, 2019 to prepare the Statement of Costs of Goods Manufactured:

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