Compute the Planned production of finished goods.

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Answer 1

Question

Chapter 23, Problem 2AP

a.

To determine

Compute the Planned production of finished goods.

b.

To determine

Compute the Cost of finished goods manufactured.

c.

To determine

Compute the Finished goods inventory as on March 31.

d.

To determine

Compute the amount of cost of goods sold.

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Bergo Bay's accounting system generated the following account balances on December 31. The company's manager knows something is wrong with this list of balances because it does not show any balance for Work in Process Inventory and the accrued factory payroll (Factory Wages Payable) has not been recorded. Debit Credit Notes payable Cash Accounts receivable Raw materials inventory Work in process inventory Finished goods inventory Prepaid rent Accounts payable Common stock Retained earnings (prior year) Sales Cost of goods sold $ 75,000 44,000 27,000 0 12,000 4,000 $ 9,800 12,800 40,000 76,000 221,400 Factory overhead General and administrative expenses Totals 118,000 27,000 53,000 $ 360,000 $ 360,000 These six documents must be processed to bring the accounting records up to date. Materials requisition 10: Materials requisition 11: Materials requisition 12: Labor time ticket 52: Labor time ticket 53: $ 4,500 direct materials to Job 402 $ 7,000 direct materials to Job 404 $ 2,100…

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Answer 2

Question

Chapter 23, Problem 2AP

a.

To determine

Compute the Planned production of finished goods.

b.

To determine

Compute the Cost of finished goods manufactured.

c.

To determine

Compute the Finished goods inventory as on March 31.

d.

To determine

Compute the amount of cost of goods sold.

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Answer 3

Question

Chapter 23, Problem 2AP

a.

To determine

Compute the Planned production of finished goods.

b.

To determine

Compute the Cost of finished goods manufactured.

c.

To determine

Compute the Finished goods inventory as on March 31.

d.

To determine

Compute the amount of cost of goods sold.

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Answer 4

Question

Chapter 23, Problem 2AP

a.

To determine

Compute the Planned production of finished goods.

b.

To determine

Compute the Cost of finished goods manufactured.

c.

To determine

Compute the Finished goods inventory as on March 31.

d.

To determine

Compute the amount of cost of goods sold.

Expert Solution & Answer

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Answer 5

Chapter 23, Problem 2AP

a.

To determine

Compute the Planned production of finished goods.

b.

To determine

Compute the Cost of finished goods manufactured.

c.

To determine

Compute the Finished goods inventory as on March 31.

d.

To determine

Compute the amount of cost of goods sold.

Answer 6

Chapter 23, Problem 2AP

a.

To determine

Compute the Planned production of finished goods.

Answer 7

Chapter 23, Problem 2AP

a.

To determine

Compute the Planned production of finished goods.

Answer 8

b.

To determine

Compute the Cost of finished goods manufactured.

Answer 9

b.

To determine

Compute the Cost of finished goods manufactured.

Answer 10

c.

To determine

Compute the Finished goods inventory as on March 31.

Answer 11

c.

To determine

Compute the Finished goods inventory as on March 31.

Answer 12

d.

To determine

Compute the amount of cost of goods sold.

Answer 13

d.

To determine

Compute the amount of cost of goods sold.

Answer 14

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Answer 15

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Answer 16

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Answer 17

Ch. 23 - Prob. 1STQ Ch. 23 - 2. During the first quarter of its operations,...Ch. 23 - 3. Rodgers Mfg. Co. prepares a flexible budget....Ch. 23 - 4. Lamberton Manufacturing Company has just...Ch. 23 - Prob. 5STQ Ch. 23 - Prob. 6STQ Ch. 23 - Prob. 1DQ Ch. 23 - 2. Briefly explain at least three ways in which a...Ch. 23 - Prob. 3DQ Ch. 23 - Prob. 4DQ

Compute the Planned production of finished goods.

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Compute the Planned production of finished goods.

Compute the Cost of finished goods manufactured.

Compute the Finished goods inventory as on March 31.

Compute the amount of cost of goods sold.

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