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The following information pertains to Flaxman Manufacturing Company for Aprill. Assume actual overhead equaled applied overhead. April 1 Inventory balances Raw materials Work in process Finished goods April 30 Inventory balances Raw materials Work in process Finished goods During April Costs of raw materials purchased Costs of direct labor Costs of manufacturing overhead Sales revenues Required a. Prepare a schedule of cost of goods manufactured and sold. b. Calculate the amount of gross margin on the Income statement. Raw materials available for use Complete this question by entering your answers in the tabs below. Direct raw materials used $100,000 120,000 78,000 Required A Required B Prepare a schedule of cost of goods manufactured and sold. FLAXMAN MANUFACTURING COMPANY Schedule of Cost of Goods Manufactured and Sold For April Total manufacturing costs $ 60,000 145,000 80,000 Total work in process inventory $120,000 100,000 63,000 380,000 Cost of goods manufactured Cost of goods available for sale Cost of goods sold ||

The following information pertains to Flaxman Manufacturing Company for Aprill. Assume actual overhead equaled applied overhead. April 1 Inventory balances Raw materials Work in process Finished goods April 30 Inventory balances Raw materials Work in process Finished goods During April Costs of raw materials purchased Costs of direct labor Costs of manufacturing overhead Sales revenues Required a. Prepare a schedule of cost of goods manufactured and sold. b. Calculate the amount of gross margin on the Income statement. Raw materials available for use Complete this question by entering your answers in the tabs below. Direct raw materials used $100,000 120,000 78,000 Required A Required B Prepare a schedule of cost of goods manufactured and sold. FLAXMAN MANUFACTURING COMPANY Schedule of Cost of Goods Manufactured and Sold For April Total manufacturing costs $ 60,000 145,000 80,000 Total work in process inventory $120,000 100,000 63,000 380,000 Cost of goods manufactured Cost of goods available for sale Cost of goods sold ||

FINANCIAL ACCOUNTING
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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The following Information pertains to Flaxman Manufacturing Company for April. Assume actual overhead equaled applied overhead. April 1 Inventory balances Raw materials Work in process Finished goods April 30 Inventory balances. Raw materials Work in process Finished goods During April Costs of raw materials purchased Costs of direct labor Costs of manufacturing overhead Sales revenues Required a. Prepare a schedule of cost of goods manufactured and sold. b. Calculate the amount of gross margin on the income statement. Raw materials available for use Complete this question by entering your answers in the tabs below. Direct raw materials used Required A Required B Prepare a schedule of cost of goods manufactured and sold. FLAXMAN MANUFACTURING COMPANY Schedule of Cost of Goods Manufactured and Sold For April Total manufacturing costs $100,000 120,000 78,000 Total work in process inventory $ 60,000 145,000 80,000 Cost of goods manufactured $120,000 100,000 63,000 380,000 Cost of goods available for sale Cost of goods sold
Transcribed Image Text:The following Information pertains to Flaxman Manufacturing Company for April. Assume actual overhead equaled applied overhead. April 1 Inventory balances Raw materials Work in process Finished goods April 30 Inventory balances. Raw materials Work in process Finished goods During April Costs of raw materials purchased Costs of direct labor Costs of manufacturing overhead Sales revenues Required a. Prepare a schedule of cost of goods manufactured and sold. b. Calculate the amount of gross margin on the income statement. Raw materials available for use Complete this question by entering your answers in the tabs below. Direct raw materials used Required A Required B Prepare a schedule of cost of goods manufactured and sold. FLAXMAN MANUFACTURING COMPANY Schedule of Cost of Goods Manufactured and Sold For April Total manufacturing costs $100,000 120,000 78,000 Total work in process inventory $ 60,000 145,000 80,000 Cost of goods manufactured $120,000 100,000 63,000 380,000 Cost of goods available for sale Cost of goods sold
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