The following is information provided from the records of Kuhio Company for August 31, 2022: -PL $37,000,000 Sales Salaries and benefits: Selling & administration Direct manufacturing labour Plant Maintenance workers Purchases of Direct Materials Indirect materials used Amortization expense ** Rent and insurance** Property taxes on plant equipment Management salaries Heat, light & power Advertising expense **: 70% OF THESE COSTS ARE ASSIGNED TO MANUFACTURING OVERHEAD, AND 30% TO SELLING AND ADMINISTRATION Inventories: Finished goods Direct Materials Work in process August 1 $ 24,000,000 4,400,000 375,000 4,000,000 6,000,000 120,000 9,000,000 235,000 450,000 4,000,000 25,000 240,000 1,200,000 700,000 2. IN GOOD FORM, prepare an Income Statement for August. August 31 $16,000,000 1,600,000 425,000 REQUIRED: 1.IN GOOD FORM, prepare a Schedule of Cost of Goods Manufactured for August.
The following is information provided from the records of Kuhio Company for August 31, 2022: -PL $37,000,000 Sales Salaries and benefits: Selling & administration Direct manufacturing labour Plant Maintenance workers Purchases of Direct Materials Indirect materials used Amortization expense ** Rent and insurance** Property taxes on plant equipment Management salaries Heat, light & power Advertising expense **: 70% OF THESE COSTS ARE ASSIGNED TO MANUFACTURING OVERHEAD, AND 30% TO SELLING AND ADMINISTRATION Inventories: Finished goods Direct Materials Work in process August 1 $ 24,000,000 4,400,000 375,000 4,000,000 6,000,000 120,000 9,000,000 235,000 450,000 4,000,000 25,000 240,000 1,200,000 700,000 2. IN GOOD FORM, prepare an Income Statement for August. August 31 $16,000,000 1,600,000 425,000 REQUIRED: 1.IN GOOD FORM, prepare a Schedule of Cost of Goods Manufactured for August.
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter11: Cost-volume-profit Analysis
Section: Chapter Questions
Problem 4CDQ: How would each of the following costs be classified if units produced is the activity base? a....
Related questions
Question
Please help me
![The following is information provided from the records of Kuhio Company for August 31, 2022:
Sales
$37,000,000
Salaries and benefits:
Selling & administration
Direct manufacturing labour
Plant Maintenance workers
Purchases of Direct Materials
Indirect materials used
Amortization expense **
Rent and insurance**
Property taxes on plant equipment
Management salaries
Heat, light & power
Advertising expense
**: 70% OF THESE COSTS ARE
ASSIGNED TO MANUFACTURING
OVERHEAD, AND 30% TO SELLING AND
ADMINISTRATION
Inventories:
Finished goods
Direct Materials
Work in process
August 1
$ 24,000,000
4,400,000
375,000
4,000,000
6,000,000
120,000
9,000,000
235,000
450,000
2. IN GOOD FORM, prepare an Income Statement for August.
4,000,000
25,000
240,000
1,200,000
700,000
August 31
$16,000,000
1,600,000
425,000
REQUIRED:
1. IN GOOD FORM, prepare a Schedule of Cost of Goods Manufactured for August.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe2696f95-227f-46e7-abd0-f9ae38c48970%2F91a9262e-1dbc-46cc-83b1-581e5b4d478a%2F8k4nkcg_processed.png&w=3840&q=75)
Transcribed Image Text:The following is information provided from the records of Kuhio Company for August 31, 2022:
Sales
$37,000,000
Salaries and benefits:
Selling & administration
Direct manufacturing labour
Plant Maintenance workers
Purchases of Direct Materials
Indirect materials used
Amortization expense **
Rent and insurance**
Property taxes on plant equipment
Management salaries
Heat, light & power
Advertising expense
**: 70% OF THESE COSTS ARE
ASSIGNED TO MANUFACTURING
OVERHEAD, AND 30% TO SELLING AND
ADMINISTRATION
Inventories:
Finished goods
Direct Materials
Work in process
August 1
$ 24,000,000
4,400,000
375,000
4,000,000
6,000,000
120,000
9,000,000
235,000
450,000
2. IN GOOD FORM, prepare an Income Statement for August.
4,000,000
25,000
240,000
1,200,000
700,000
August 31
$16,000,000
1,600,000
425,000
REQUIRED:
1. IN GOOD FORM, prepare a Schedule of Cost of Goods Manufactured for August.
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Survey of Accounting (Accounting I)](https://www.bartleby.com/isbn_cover_images/9781305961883/9781305961883_smallCoverImage.gif)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
![Survey of Accounting (Accounting I)](https://www.bartleby.com/isbn_cover_images/9781305961883/9781305961883_smallCoverImage.gif)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning