Sales Salaries and benefits: Selling & administration Direct manufacturing labour Plant Maintenance workers Purchases of Direct Materials Indirect materials used Amortization expense ww Rent and insurance** Property taxes on plant equipment Management salaries. Heat, light & power ** Advertising expense **: 70% OF THESE COSTS ARE ASSIGNED TO MANUFACTURING OVERHEAD, AND 30% TO SELLING AND ADMINISTRATION Inventories: Finished goods Direct Materials Work in process August 1 $ 12,000,000 2,200,000 187,500 CGM and Income statement please $18,500,000 2,000,000 3,000,000 60,000 4,500,000 117,500 225,000 2,000,000 12,500 120,000 600,000 350,000 August 31 $8,000,000 800,000 212,500
Sales Salaries and benefits: Selling & administration Direct manufacturing labour Plant Maintenance workers Purchases of Direct Materials Indirect materials used Amortization expense ww Rent and insurance** Property taxes on plant equipment Management salaries. Heat, light & power ** Advertising expense **: 70% OF THESE COSTS ARE ASSIGNED TO MANUFACTURING OVERHEAD, AND 30% TO SELLING AND ADMINISTRATION Inventories: Finished goods Direct Materials Work in process August 1 $ 12,000,000 2,200,000 187,500 CGM and Income statement please $18,500,000 2,000,000 3,000,000 60,000 4,500,000 117,500 225,000 2,000,000 12,500 120,000 600,000 350,000 August 31 $8,000,000 800,000 212,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please do not give solution in image format thanku
Transcribed Image Text:Sales
Salaries and benefits:
Selling & administration
Direct manufacturing labour
Plant Maintenance workers
Purchases of Direct Materials
Indirect materials used
Amortization expense **
Rent and insurance**
Property taxes on plant equipment
Management salaries
Heat, light & power'
Advertising expense
**: 70% OF THESE COSTS ARE
ASSIGNED TO MANUFACTURING
OVERHEAD, AND 30% TO SELLING AND
ADMINISTRATION
Inventories:
**
Finished goods
Direct Materials
Work in process
August 1
$ 12,000,000
2,200,000
187,500
CGM and Income statement please
$18,500,000
2,000,000
3,000,000
60,000
4,500,000
117,500
225,000
2,000,000
12,500
120,000
600,000
350,000
August 31
$8,000,000
800,000
212,500
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education