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 Rainier Company Yakima Company 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 $281,120.00 $176,500.00 ما (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 9 Total manufacturing costs 2,678,800.00 1,477,500.00 10 Work in process inventory, May 1 540,600.00 443,500.00 11 Work in process inventory, May 31 451,000.00 (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 Rainier Company Yakima Company 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 $281,120.00 $176,500.00 ما (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 9 Total manufacturing costs 2,678,800.00 1,477,500.00 10 Work in process inventory, May 1 540,600.00 443,500.00 11 Work in process inventory, May 31 451,000.00 (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
Rainier Company
Yakima Company
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
$281,120.00
$176,500.00
ما
(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
9
Total manufacturing costs
2,678,800.00
1,477,500.00
10 Work in process inventory, May 1
540,600.00
443,500.00
11 Work in process inventory, May 31
451,000.00
(c)
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