The following data were taken from the records of Splish Brothers Company for the fiscal year ended June 30, 2025.Raw Materials Inventory 7/1/24$58,100Accounts Receivable$28,000Raw Materials Inventory 6/30/2546,600Factory Insurance4,800Finished Goods Inventory 7/1/24Finished Goods Inventory 6/30/2599,700Factory Machinery Depreciation17,10021,900Factory Utilities29,400Work in Process Inventory 7/1/2421,200Office Utilities Expense9,350Work in Process Inventory 6/30/2529,400Sales Revenue560,500Direct Labor147,550Sales Discounts4,700Indirect Labor25,360Factory Manager's Salary63,400Factory Property Taxes9,910Factory Repairs2,500Raw Materials Purchases97,300Cash39,200SPLISH BROTHERS COMPANYIncome Statement (Partial)$

To complete the Partial Income Statement for Splish Brothers Company for the fiscal year ending June…

Answered: The following data were taken from the…

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter1: Introduction To Cost Accounting

Section: Chapter Questions

Problem 9E: The following inventory data relate to Edwards, Inc.: Calculate the following for the year: a....

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The following data were taken from the records of Waterway Company for the fiscal year ended June 30, 2020. Raw Materials Inventory 7/1/19 $48,100 Factory Insurance $5,600 Raw Materials Inventory 6/30/20 46,200 Factory Machinery Depreciation 18,600 Finished Goods Inventory 7/1/19 99,600 Factory Utilities 29,200 Finished Goods Inventory 6/30/20 21,600 Office Utilities Expense 8,850 Work in Process Inventory 7/1/19 27,700 Sales Revenue 561,400 Work in Process Inventory 6/30/20 25,300 Sales Discounts 4,900 Direct Labor 144,150 Plant Manager’s Salary 64,400 Indirect Labor 24,960 Factory Property Taxes 9,910 Accounts Receivable 29,900 Factory Repairs 2,100 Raw Materials Purchases 99,200 Cash 40,700 Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct materials.)
The following data were taken from the records of Kingbird Company for the fiscal year ended June 30, 2022. Raw Materials Inventory 7/1/21 $51,100 Accounts Receivable $34,600 Raw Materials Inventory 6/30/22 41,600 Factory Insurance 5,200 Finished Goods Inventory 7/1/21 96,800 Factory Machinery Depreciation 16,800 Finished Goods Inventory 6/30/22 27,800 Factory Utilities 29,700 Work in Process Inventory 7/1/21 21,300 Office Utilities Expense 9,550 Work in Process Inventory 6/30/22 27,900 Sales Revenue 563,900 Direct Labor 144,350 Sales Discounts 4,600 Indirect Labor 26,360 Factory Manager’s Salary 64,300 Factory Property Taxes 9,610 Factory Repairs 2,500 Raw Materials Purchases 97,200 Cash 37,900
The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020. Raw Materials Inventory 7/1/19 $54,800 Factory Insurance $5,300 Raw Materials Inventory 6/30/20 49,200 Factory Machinery Depreciation 16,500 Finished Goods Inventory 7/1/19 96,400 Factory Utilities 29,500 Finished Goods Inventory 6/30/20 28,500 Office Utilities Expense 9,250 Work in Process Inventory 7/1/19 22,600 Sales Revenue 561,300 Work in Process Inventory 6/30/20 27,300 Sales Discounts 4,500 Direct Labor 139,550 Plant Manager’s Salary 66,100 Indirect Labor 24,960 Factory Property Taxes 9,710 Accounts Receivable 34,900 Factory Repairs 2,300 Raw Materials Purchases 99,500 Cash 36,300 (a) Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct materials.) (b) Prepare an income statement through gross profit. (c) Prepare the current assets…
The following data were taken from the records of Vaughn Company for the fiscal year ended June 30, 2020. Raw Materials Inventory 7/1/19 $51,500 Factory Insurance $5,400 Raw Materials Inventory 6/30/20 47,900 Factory Machinery Depreciation 17,200 Finished Goods Inventory 7/1/19 98,100 Factory Utilities 29,000 Finished Goods Inventory 6/30/20 27,700 Office Utilities Expense 9,050 Work in Process Inventory 7/1/19 25,200 Sales Revenue 561,600 Work in Process Inventory 6/30/20 21,000 Sales Discounts 4,900 Direct Labor 145,850 Plant Manager’s Salary 61,200 Indirect Labor 25,260 Factory Property Taxes 9,710 Accounts Receivable 35,200 Factory Repairs 1,700 Raw Materials Purchases 98,500 Cash 37,200 1. Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct materials.)
The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020. Raw Materials Inventory 7/1/19 $48,000 Factory Insurance $4,600 Raw Materials Inventory 6/30/20 39,600 Factory Machinery Depreciation 16,000 Finished Goods Inventory 7/1/19 96,000 Factory Utilities 27,600 Finished Goods Inventory 6/30/20 75,900 Office Utilities Expense 8,650 Work in Process Inventory 7/1/19 19,800 Sales Revenue 534,000 Work in Process Inventory 6/30/20 18,600 Sales Discounts 4,200 Direct Labor 139,250 Plant Manager’s Salary 58,000 Indirect Labor 24,460 Factory Property Taxes 9,600 Accounts Receivable 27,000 Factory Repairs 1,400 Raw Materials Purchases 96,400 Cash 32,000 (a) Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct materials.) CLARKSON COMPANYCost of Goods Manufactured Schedule…
The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020. Raw Materials Inventory 7/1/19 $48,000 Factory Insurance $4,600 Raw Materials Inventory 6/30/20 39,600 Factory Machinery Depreciation 16,000 Finished Goods Inventory 7/1/19 96,000 Factory Utilities 27,600 Finished Goods Inventory 6/30/20 75,900 Office Utilities Expense 8,650 Work in Process Inventory 7/1/19 19,800 Sales Revenue 534,000 Work in Process Inventory 6/30/20 18,600 Sales Discounts 4,200 Direct Labor 139,250 Plant Manager’s Salary 58,000 Indirect Labor 24,460 Factory Property Taxes 9,600 Accounts Receivable 27,000 Factory Repairs 1,400 Raw Materials Purchases 96,400 Cash 32,000 Prepare an income statement through gross profit.
The following inventory information is available for Cullumber Manufacturing Corporation for the year ended December 31, 2022: Beginning Ending Inventories: Raw materials $18,020 $20,140 Work in process 9,540 14,840 Finished goods 11,660 8,480 Total $39,220 $43,460 In addition, the following transactions occurred in 2022: 1. Raw materials purchased on account, $79,500. 2. Incurred factory labor, $84,800, all is direct labor. Incurred the following overhead costs during the year: utilities $7,208, depreciation on manufacturing machinery $8,480, manufacturing machinery repairs $9,752, factory insurance $9,540 (Credit Accounts Payable and Accumulated 3. Depreciation). 4. Assigned $84,800 of factory labor to jobs. 5. Applied $38,160 of overhead to jobs.
What was cogs?
The income statement of Marin Company is shown below. MARIN COMPANYINCOME STATEMENTFOR THE YEAR ENDED DECEMBER 31, 2020Sales revenue$7,430,000Cost of goods soldBeginning inventory$2,090,000Purchases4,770,000Goods available for sale6,860,000Ending inventory1,440,000Cost of goods sold5,420,000Gross profit2,010,000Operating expensesSelling expenses440,000Administrative expenses690,0001,130,000Net income$880,000 Additional information: 1. Accounts receivable decreased $350,000 during the year.2. Prepaid expenses increased $150,000 during the year.3. Accounts payable to suppliers of merchandise decreased $260,000 during the year.4. Accrued expenses payable decreased $130,000 during the year.5. Administrative expenses include depreciation expense of $60,000. Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2020, for Marin Company, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in…
In a restated set of financial statements prepared in accordance with the current cost accounting, how much would appear as Total Noncurrent assets?
Provide correct answer general accounting
The following inventory data relate to Edwards, Inc.: Calculate the following for the year: a. Direct materials purchased. b. Direct labor costs incurred. c. Cost of goods sold. d. Gross profit.

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