FUND OF ACCT PRIN(LOOSE-LEAF)+ACCESS
25th Edition
ISBN: 9781264753277
Author: Wild
Publisher: MCG
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Chapter 19, Problem 20E
Exercise 19-20
Direct materials
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Question 1.1
The following information was taken from the accounting records of Dunbar Mifflin Company in 2018.
Beginning of 2018
135,000
Ending of 2018
Direct materials inventory
Work-in-process inventory
Finished-goods inventory
83,000
185,000
154,000
255,000
216,000
Purchases of direct materials
270,000
Direct manufacturing labor
Indirect manufacturing labor
225,000
103,000
Plant insurance
11,000
Depreciation-plant, building, and equipment
48,000
Plant utilities
29,500
Repairs and maintenance-plant
Equipment leasing costs
Marketing, distribution, and customer-service costs
13,500
66,800
129,500
General and administrative costs
72,500
Required:
1. Prepare a schedule of cost of goods manufactured.
Question 17
Exercise 23-05
Culver Company’s income statement for the year ended December 31, 2020, contained the following condensed information.
Service revenue
$843,000
Operating expenses (excluding depreciation)
$626,000
Depreciation expense
61,000
Loss on sale of equipment
26,000
713,000
Income before income taxes
130,000
Income tax expense
41,000
Net income
$89,000
Culver’s balance sheet contained the following comparative data at December 31.
2020
2019
Accounts receivable
$38,000
$55,000
Accounts payable
39,000
32,000
Income taxes payable
4,200
8,700
(Accounts payable pertains to operating expenses.)Prepare the operating activities section of the statement of cash flows using the direct method.
CULVER COMPANYStatement of Cash Flows (Partial)choose the accounting period
select an opening section name
select an item
$enter a dollar…
Chapter 19 Solutions
FUND OF ACCT PRIN(LOOSE-LEAF)+ACCESS
Ch. 19 - Jobs and job lots C1 Determine which of the...Ch. 19 - Job cost sheets C2 Clemens Cars's job cost sheet...Ch. 19 - Documents in job order costing P1 P2 P3 The left...Ch. 19 - Raw materials journal entries P1 During the...Ch. 19 - Prob. 5QSCh. 19 - Prob. 6QSCh. 19 - Prob. 7QSCh. 19 - Prob. 8QSCh. 19 - Prob. 9QSCh. 19 - Prob. 10QS
Ch. 19 - Prob. 11QSCh. 19 - Prob. 12QSCh. 19 - Jab order costing of services A1 An advertising...Ch. 19 - Job order costing of services A1 An advertising...Ch. 19 - Job cost sheet C2 Eco Skate makes skateboards from...Ch. 19 - Prob. 16QSCh. 19 - Prob. 17QSCh. 19 - Prob. 18QSCh. 19 - Prob. 19QSCh. 19 - Prob. 20QSCh. 19 - Prob. 21QSCh. 19 - Prob. 22QSCh. 19 - Prob. 23QSCh. 19 - Prob. 24QSCh. 19 - Exercise 19-1 Job order production C1 Match each...Ch. 19 - Exercise 19-2 Job cost computation C2 The...Ch. 19 - Exercise 19-3 Analysis of cost flows C2 As of the...Ch. 19 - Exercise 19-4 Recording product costs P1 P2 P3...Ch. 19 - Exercise 19-5 Manufacturing cost flows P1 P2 P3...Ch. 19 - Exercise 19-6 Recording events in job order...Ch. 19 - Exercise 19-7 Cost flows in a jab order costing...Ch. 19 - Exercise 19-8 Journal entries for materials P1 Use...Ch. 19 - Exercise 19-9 Journal entries for labor P2 Use...Ch. 19 - Exercise 19-10 Journal entries for overhead P3 Use...Ch. 19 - Exercise 19-11 Overhead rate; costs assigned to...Ch. 19 - Exercise 19-12 Analyzing costs assigned to work in...Ch. 19 - Exercise 19-13 Adjusting factory overhead P4 Refer...Ch. 19 - Exercise 19-14 Adjusting factory overhead P4...Ch. 19 - Prob. 15ECh. 19 - Prob. 16ECh. 19 - Exercise 19-17 Overhead rate calculation,...Ch. 19 - Exercise 19-18 Job order costing for services A1...Ch. 19 - Exercise 19-19 Job order costing of services A1...Ch. 19 - Exercise 19-20 Direct materials journal entries P1...Ch. 19 - Prob. 21ECh. 19 - Prob. 22ECh. 19 - Prob. 23ECh. 19 - Prob. 24ECh. 19 - Prob. 25ECh. 19 - Prob. 26ECh. 19 - Prob. 27ECh. 19 - Prob. 28ECh. 19 - Prob. 29ECh. 19 - Prob. 30ECh. 19 - Prob. 31ECh. 19 - Problem 19-1A Production costs computed and...Ch. 19 - Problem 19-2 A Source documents, journal entries,...Ch. 19 - Prob. 3PSACh. 19 - Prob. 4PSACh. 19 - Problem 19-5A Production transactions, subsidiary...Ch. 19 - Problem 19-1B Production costs computed and...Ch. 19 - Prob. 2PSBCh. 19 - Prob. 3PSBCh. 19 - Problem 19-4B Overhead allocation and adjustment...Ch. 19 - Problem 19-5B Production transactions, subsidiary...Ch. 19 - The computer workstation furniture manufacturing...Ch. 19 - The General Ledger tool in Connect automates...Ch. 19 - Manufacturers and merchandisers can apply...Ch. 19 - Prob. 2AACh. 19 - Apple and Samsung compete in the global...Ch. 19 - Prob. 1DQCh. 19 - Some companies use labor cost to apply factory...Ch. 19 - Prob. 3DQCh. 19 - In a job order costing system, what records serve...Ch. 19 - What journal entry is recorded when a materials...Ch. 19 - Prob. 6DQCh. 19 - Google uses a "time ticket" for some employees....Ch. 19 - What events cause debits to be recorded in the...Ch. 19 - Prob. 9DQCh. 19 - Assume that Apple produces a batch of 1,000...Ch. 19 - 11. Why must a company use predetermined overhead...Ch. 19 - How would a hospital apply job order costing?...Ch. 19 - Harley-Davidson manufactures 30 custom-made,...Ch. 19 - Prob. 14DQCh. 19 - Prob. 15DQCh. 19 - Assume that your company sells portable housing to...Ch. 19 - Assume that you are preparing for a second...Ch. 19 - Prob. 3BTNCh. 19 - Consider the activities undertaken by a medical...
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- Problem 6 The Protect Production Company presents the following selected general ledger accounts showing balances at October 1, 2017: Cash P 40,000 Finished Goods 592,000 Work in Process Raw materials Prepaid Insurance Accumulated Depreciation Accounts Payable 164,000 128,000 4,000 280,000 108,000 Balances at October 31, 2017 include: Accrued payroll Finished goods P 12,000 608,000 188,000 120,000 Work in Process Raw Materials A summary of transactions for the month of October follows: a. Cash sales b. Raw materials purchased on account c. Direct materials used P420,000 168,000 156,000 64,000 1,200 d. Direct Labor e. Factory insurance expired f. Depreciation for factory equipment g. Factory utility service on account h. Accounts payable paid Factory payroll paid 6,800 12,000 196,000 88,000 i. Required: 16. Indirect materials used. 17. Indirect labor 18. Total factory overhead 19. Cost of goods manufactured 20. Cost of goods sold.arrow_forward1 Chapter : Manufacturing Accountingarrow_forwardA-3arrow_forward
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