Financial & Managerial Accounting
13th Edition
ISBN: 9781285866307
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Chapter 16, Problem 16.13EX
To determine
Cost of goods
Cost of goods manufactured refers to the costs incurred for manufacturing the goods during the period. A statement of cost of goods manufactured is prepared in order to determine the cost of goods manufactured, which in turn is used to determine the cost of goods sold, and prepare the income statement.
To determine: The cost of goods manufactured of Company E for the month ended January 31, 2016.
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Cost of Goods Manufactured for a Manufacturing Company
The following information is available for Ethtridge Manufacturing Company for the month ending July 31:
Cost of direct materials used in production
$105,600
Direct labor
126,700
47,500
64,400
58,100
Work in process inventory, July 1
Work in process inventory, July 31
Total factory overhead
Determine Ethtridge's cost of goods manufactured for the month ended July 31.
Ethtridge Manufacturing Company
Statement of Cost of Goods Manufactured
For the Month Ended July 31
Add manufacturing costs incurred during July:
Total manufacturing costs incurred
Total manufacturing costs
Cost of goods manufactured
Cost of goods sold, profit margin, and net income for a manufacturingcompany
The following information is available for Bandera ManufacturingCompany for the month ending January 31:
cost of goods manufactured
$4,490,000
Selling expenses
530,000
Administrative expenses
340,000
Sales
6,600,000
Finished goods inventory, January 1
880,000
Finished goods inventory, January 31
7750,000
For the month ended January 31, determine Bandera's (a) cost of goodssold, (b) gross profit, and (c) net income.
Cost of Direct Materials Used in Production for a Manufacturing Company
Walker Manufacturing Company reported the following materials data for the month ending June 30:
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$188,900
Materials inventory, June 1
59,600
Materials inventory, June 30
49,700
Determine the cost of direct materials used in production by Walker during the month ended June 30.$
Chapter 16 Solutions
Financial & Managerial Accounting
Ch. 16 - What are the major differentes between managerial...Ch. 16 - A. Differentiate between a department with line...Ch. 16 - What manufacturing cost term is used to describe...Ch. 16 - Prob. 4DQCh. 16 - What is the difference between a product cost and...Ch. 16 - Name the three inventory accounts for a...Ch. 16 - In What order should the three inventories of a...Ch. 16 - Prob. 8DQCh. 16 - For a manufacturer, what is the description of the...Ch. 16 - How does the Cost of Goods Sold section of the...
Ch. 16 - Prob. 16.1APECh. 16 - Management process Three phases of the management...Ch. 16 - Prob. 16.2APECh. 16 - Prob. 16.2BPECh. 16 - Prob. 16.3APECh. 16 - Prime and conversion costs Identify the following...Ch. 16 - Product and period costs Identify the following...Ch. 16 - Product and period costs Identify the following...Ch. 16 - Prob. 16.5APECh. 16 - Cost of goods sold, cost of goods manufactured...Ch. 16 - Classifying costs as materials, labor, or factory...Ch. 16 - Classifying costs as materials, labor, or factory...Ch. 16 - Prob. 16.3EXCh. 16 - Classifying costs as product or period costs For...Ch. 16 - Concepts and terminology From the choices...Ch. 16 - Concepts and terminology From the choices...Ch. 16 - Prob. 16.7EXCh. 16 - Classifying costs The following report was...Ch. 16 - Financial statements of a manufacturing firm The...Ch. 16 - Manufacturing company balance sheet Partial...Ch. 16 - Cost of direct materials used in production for a...Ch. 16 - Prob. 16.12EXCh. 16 - Prob. 16.13EXCh. 16 - Income statement for a manufacturing company Two...Ch. 16 - Statement of cost of goods manufactured for a...Ch. 16 - Prob. 16.16EXCh. 16 - Cost flow relationships The following information...Ch. 16 - Prob. 16.18EXCh. 16 - Classifying costs The following is a list of costs...Ch. 16 - Classifying costs The following is a list of costs...Ch. 16 - Cost classifications for a service company A...Ch. 16 - Manufacturing income statement, statement of cost...Ch. 16 - Statement of cost of goods manufactured and income...Ch. 16 - Prob. 16.1BPRCh. 16 - Classifying costs The following is a list of costs...Ch. 16 - Prob. 16.3BPRCh. 16 - Manufacturing income statement, statement of cost...Ch. 16 - Prob. 16.5BPRCh. 16 - Prob. 16.1CPCh. 16 - Prob. 16.2CPCh. 16 - Managerial accounting in the management process...Ch. 16 - Prob. 16.4CPCh. 16 - Using managerial accounting information The...
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