Hi,I need help inputting the following values (cells are highlighted in red).Thank you. The Devon Motor Company produces automobiles. On April 1, the company had no beginning inventories, and it purchased 5,850batteries at a cost of $70 per battery. It withdrew 5,400 batteries from the storeroom during the month. Of these, 100 were used toreplace batteries in cars being used by the company's traveling sales staff. The remaining 5,300 batteries withdrawn from thestoreroom were placed in cars being produced by the company. Of the cars in production during April, 90 percent were completedand transferred from work in process to finished goods. Of the cars completed during the month, 30 percent were unsold at April 30.Required:1. and 2. Determine the cost of batteries that would appear in each of the following accounts on April 30 and select whether each ofthe accounts would appear on the balance sheet or on the income statement.X Answer is complete but not entirely correct.Name of the Account1a. Raw Materials1b. Work in Process1c. Finished Goods1d. Cost of Goods Sold1e. Selling ExpenseCostAppears on:X Balance SheetxBalance SheetXBalance SheetX Income StatementX Income Statement

COST OF INVENTORY Cost of inventory are the cost of those inventory which is left at the end of…

Required: 1. and 2. Determine the cost of batteries that would appear in each of the following accounts on April 30 and select whether each of the accounts would appear on the balance sheet or on the income statement. Answer is complete but not entirely correct. Appears on: Name of the Account 1a. Raw Materials 1b. Work in Process 1c. Finished Goods 1d. Cost of Goods Sold 1e. Selling Expense Cost X Balance Sheet X Balance Sheet Balance Sheet X Income Statement X Income Statement ✓ ✓

Required: 1. and 2. Determine the cost of batteries that would appear in each of the following accounts on April 30 and select whether each of the accounts would appear on the balance sheet or on the income statement. Answer is complete but not entirely correct. Appears on: Name of the Account 1a. Raw Materials 1b. Work in Process 1c. Finished Goods 1d. Cost of Goods Sold 1e. Selling Expense Cost X Balance Sheet X Balance Sheet Balance Sheet X Income Statement X Income Statement ✓ ✓

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The Devon Motor Company produces automobiles. On April 1, the company had no beginning inventories, and it purchased 8,000 batteries at a cost of $80 per battery. It withdrew 7,600 batteries from the storeroom during the month. Of these, 100 were used to replace batteries in cars being used by the company’s traveling sales staff. The remaining 7,500 batteries withdrawn from the storeroom were placed in cars being produced by the company. Of the cars in production during April, 90 percent were completed and transferred from work in process to finished goods. Of the cars completed during the month, 30 percent were unsold at April 30. Required: 1. Determine the cost of batteries that would appear in each of the following accounts on April 30. Name of the Account Cost 1a. Raw Materials $32,000 1b. Work in Process $60,000 1c. Finished Goods 1d. Cost of Goods Sold 1e. Selling Expense $8,000
The Devon Motor Company produces automobiles. On April 1, the company had no beginning inventories, and it purchased 8,000 batteries at a cost of $80 per battery. It withdrew 7,600 batteries from the storeroom during the month. Of these, 100 were used to replace batteries in cars used by the company's traveling sales staff. The remaining 7,500 batteries withdrawn from the storeroom were placed in cars being produced by the company. Of the cars in production during April, 90 percent were completed and transferred from work in process to finished goods. Of the cars completed during the month, 30 percent were unsold at April 30. Required: 1. and 2. Determine the cost of batteries appearing in each of the following accounts on April 30 and select whether each of the accounts would appear on the balance sheet or on the income statement. Name of the Account Raw Materials Work in Process Finished Goods Cost of Goods Sold Selling Expense Cost Appears on:
The Devon Motor Company produces automobiles. On April 1st the company had no beginning inventories and it purchased 5,410 batteries at a cost of $50 per battery. It withdrew 5,000 batteries from the storeroom during the month. Of these, 100 were used to replace batteries in cars being used by the company's traveling sales staff. The remaining 4,900 batteries withdrawn from the storeroom were placed in cars being produced by the company. Of the cars in production during April, 90 percent were completed and transferred from work in process to finished goods. Of the cars completed during the month, 30 percent were unsold at April 30th. Required: 1. Determine the cost of batteries that would appear in each of the following accounts on April 30th. Name of the Account 1a. Raw Materials 1b. Work in Process 1c. Finished Goods 1d. Cost of Goods Sold 1e. Selling Expense Cost
The Devon Motor Company produces automobiles. On April 1st the company had no beginning inventories and it purchased 8,000 batteries at a cost of $80 per battery. It withdrew 7,600 batteries from the storeroom during the month. Of these, 100 were used to replace batteries in cars being used by the company’s traveling sales staff. The remaining 7,500 batteries withdrawn from the storeroom were placed in cars being produced by the company. Of the cars in production during April, 90 percent were completed and transferred from work in process to finished goods. Of the cars completed during the month, 30 percent were unsold at April 30th.Required:1. Determine the cost of batteries that would appear in each of the following accounts on April 30th.a. Raw Materialsb. Work in Processc. Finished Goodsd. Cost of Goods Solde. Selling Expense2. Specify whether each of the above accounts would appear on the balance sheet or on the income statement at the end of the month.
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