The following information is available for Kingbird Company.Raw materials inventoryWork in process inventoryFinished goods inventoryMaterials purchasedDirect laborManufacturing overheadSales revenueJanuary 1, 2025$21,200*14,10027,6502025$153,000224,400183,600928,200December 31, 2025$30,60017,65021,420 mpute cost of goods manufactured. (Assume that all raw materials used were direct materials.)KINGBIRD COMPANYCost of Goods Manufactured Schedule$

The cost of goods manufactured is the calculation of a company's total costs of production during a…

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Complete the information in the cost computations shown here: Raw materials Beginning inventory Purchases Materials available for use Ending inventory Materials used in production Work in process inventory Beginning inventory Materials used in production Direct labor Overhead applied Manufacturing costs incurred Ending inventory Cost of goods manufactured Finished goods inventory Beginning inventory Cost of goods manufactured Goods available for sale Ending inventory Cost of goods sold $341 1,533 323 $931 1,536 $22,450 936 $25,008 $21,792
Sheffield Corp!'s accounting records reflect the following inventories: Raw materials inventory Work in process inventory Finished goods inventory Dec. 31, 2021 O $1420000 O $1408000 O $1309000 O $1315000 $200000 276000 270000 Dec. 31, 2022 $101000 294000 258000 During 2022, Sheffield purchased $910000 of raw materials, incurred direct labor costs of $175000, and incurred manufacturing overhead totaling $224000. How much is total manufacturing costs incurred during 2022 for Sheffield?
accounts
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
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Make an income statement
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

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