un.3   The following information pertains to Flaxman Manufacturing Company for April. Assume actual overhead equaled applied overhead. April 1 Inventory balances Raw materials $ 124,400 Work in process 118,700 Finished goods 77,600 April 30 Inventory balances Raw materials $ 86,600 Work in process 145,700 Finished goods 80,300 During April Costs of raw materials purchased $ 118,800 Costs of direct labor 101,300 Costs of manufacturing overhead 61,800 Sales revenues 355,000 Required Prepare a schedule of cost of goods manufactured and sold. Calculate the amount of gross margin on the income

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A: Gross Margin=Sales revenues-Cost of goods sold

Q: April 30 May 31 Inventories Raw materials Work in process Finished goods Activities and information…

A: The cost of goods sold includes the cost of goods that are sold during the period.

Q: The following information pertains to Flaxman Manufacturing Company for April. Assume actual…

A: Formula  Gross margin  =   Sales revenue  - cost of goods sold

Q: Raw materials Work in process Finished goods $ 74,000 $ 31,800 $ 52,200 The company applies overhead…

A: Business transactions are tracked in the ledger accounts. A ledger account is used to store…

Q: Adding Company applies overr cost products based on a pre-determined overhead rate of 80% of direct…

A: The cost of goods manufactured includes the cost of goods that are finished during the period. The…

Q: Cost of direct materials used in production $1,323,600 Direct labor 1,680,000 Work in process…

A: Cost of goods sold: =Opening WIP + Total manufacturing cost - Closing WIP

Q: Starr Company reports the following information for August.          Raw materials purchased on…

A: Journal Entry: A journal entry, in accounting, is the logging of a transaction in an accounting…

Q: From March Direct Materials Direct Labor Applied overhead Beginning goods in process For April…

A: Overhead Applied :— Applied overhead is a type of direct overhead expense that is recorded under the…

Q: Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Firetree…

A: Cost of goods manufactured:— It is the total cost of completed finished goods transferred from work…

Q: April 1       Inventory balances       Raw materials $ 123,700   Work in process   118,700…

A: Particular Amount Beginning raw material $123,700 Raw material purchased $118,800 Raw material…

Q: Cost data for Johnstone Manufacturing Company for th month ended March 31 are as follows:…

A: Cost of goods manufactured includes all the expenses related to direct materials, direct labor, and…

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A: The T-accounts are prepared by posting the transactions from the journal entries. The T-accounts…

Q: Inventory of work in process Inventory of finished goods Direct materials used Direct labor…

A: Cost management is crucial for companies of all sizes and sectors because it has a direct impact on…

Q: Total Manufacturing Overhead at the beginning of the year $105,840 Total direct labour costs…

A: As posted multiple independent questions we are answering only first question kindly repost the…

Q: Cost of Goods Manufactured for a Manufacturing Company The following information is available for…

A: In management accounting, the phrase "cost of goods manufactured" relates to a schedule that…

Q: The following information is available for Fuller Manufacturing Company for the month ending October…

A: Statement of cost of goods manufactured represents the cost incurred in the production process of…

Q: 20.Cost of Goods Manufactured for a Manufacturing Company The following information is available…

A: Cost of goods manufactured: Cost of Goods Manufactured, also known to as COGM, is a term used in…

Q: Before the completed production for June is recorded, the work in process inventory account for…

A: Total cost of jobs completed=Job 107 + Job 108 + Job 109=$126,000+$265,500+$112,500=$504,000

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A: The cost of goods manufactured is the manufacturing costs associated with the products that moved…

Q: The following information pertains to Flaxman Manufacturing Company for April. Assume actual…

A: Formula: Materials consumed = Beginning Raw materials + Purchases - Ending materials Deducting…

Q: he records of Tuscon Corporation revealed the following data for the current year. Work in Process…

A: Solution: Proportion of variance Overhead Proportion Work in Process Inventory 73150 22.73%…

Q: The following information pertains to Flaxman Manufacturing Company for April. Assume actual…

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A: yAnswer -  Part E  -  Computation of the balance of the Work-in-Process Inventory account at the end…

Q: Cost of Goods Manufactured for a Manufacturing Company

A: The cost of goods manufactured indicates all the cost incurred to produce the product of the…

Q: Smith Company reports the following information: Cost of goods manufactured $68,250 Direct materials…

A: The cost of goods manufactured includes the total cost of goods that are finished during the period.…

Q: The following information pertains to Flaxman Manufacturing Company for April. Assume actual…

A: The statement of cost of goods manufactured is prepared to estimate the cost of goods that are…

Q: The following information is available for Nics Company. March 1 March 31 Raw materials inventory…

A: The COG manufactured is the cost that incurs in manufacturing the WIP and complete goods. It…