Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of May: 1 2 Materials inventory, May 1 3 Materials inventory, May 31 4 Materials purchased 5 Cost of direct materials used in production 6 Direct labor 7 Factory overhead 8 Total manufacturing costs incurred in May 9 Total manufacturing costs 10 Work in process inventory, May 1 11 Work in process inventory, May 31 Rainier Company Yakima Company $281,120.00 $176,500.00 (a) 177,500.00 713,200.00 340,300.00 751,600.00 (a) 1,058,600.00 (b) 328,000.00 179,200.00 (b) 1,034,000.00 2,678,800.00 1,477,500.00 540,600.00 443,500.00 451,000.00 (c)
Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of May: 1 2 Materials inventory, May 1 3 Materials inventory, May 31 4 Materials purchased 5 Cost of direct materials used in production 6 Direct labor 7 Factory overhead 8 Total manufacturing costs incurred in May 9 Total manufacturing costs 10 Work in process inventory, May 1 11 Work in process inventory, May 31 Rainier Company Yakima Company $281,120.00 $176,500.00 (a) 177,500.00 713,200.00 340,300.00 751,600.00 (a) 1,058,600.00 (b) 328,000.00 179,200.00 (b) 1,034,000.00 2,678,800.00 1,477,500.00 540,600.00 443,500.00 451,000.00 (c)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of May:
1
2 Materials inventory, May 1
3 Materials inventory, May 31
4 Materials purchased
5 Cost of direct materials used in production
6 Direct labor
7 Factory overhead
8 Total manufacturing costs incurred in May
9 Total manufacturing costs
10 Work in process inventory, May 1
11 Work in process inventory, May 31
Rainier Company
Yakima Company
$281,120.00
$176,500.00
(a)
177,500.00
713,200.00
340,300.00
751,600.00
(a)
1,058,600.00
(b)
328,000.00
179,200.00
(b)
1,034,000.00
2,678,800.00
1,477,500.00
540,600.00
443,500.00
451,000.00
(c)
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