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Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of December 2019: AMORE REAL materials inventory, December 1 Materials inventory, December 31 Materials purchased 280,280.00 177,000 A 712,800.00 180,000.00 342,000.00 Cost of direct materials used in production Direct labor Factory overhead Total manufacturing costs incurred during December Total manufacturing costs 762,400.00 1,058,400.00 327,600.00 188,000.00 1,035,000.00 2,678,400.00 1,477,500.00 Work in process inventory, December 1 540,000.00 442,600.00 Work in process inventory, December 31 Cost of goods manufactured Finished goods inventory, December 1 Finished goods inventory, December 31 453,600.00 1.024,500.00 475,200.00 304,000.00 496,800.00 Sales 4,140,000.00 1,775,500.00 Cost of goods sold Gross profit 1.051,500.00 K Operating expenses 540,000.00 Net income 384,000.00

Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of December 2019: AMORE REAL materials inventory, December 1 Materials inventory, December 31 Materials purchased 280,280.00 177,000 A 712,800.00 180,000.00 342,000.00 Cost of direct materials used in production Direct labor Factory overhead Total manufacturing costs incurred during December Total manufacturing costs 762,400.00 1,058,400.00 327,600.00 188,000.00 1,035,000.00 2,678,400.00 1,477,500.00 Work in process inventory, December 1 540,000.00 442,600.00 Work in process inventory, December 31 Cost of goods manufactured Finished goods inventory, December 1 Finished goods inventory, December 31 453,600.00 1.024,500.00 475,200.00 304,000.00 496,800.00 Sales 4,140,000.00 1,775,500.00 Cost of goods sold Gross profit 1.051,500.00 K Operating expenses 540,000.00 Net income 384,000.00

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter1: Introduction To Managerial Accounting
Section: Chapter Questions
Problem 4PB: Several items are omitted from the income statement and cost of goods manufactured statement data...
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A. AMORE'S MATERIAL INVENTORY AT DECEMBER 31 * 240,680 220,680 230,680 280,280 B. AMORE'S TOTAL MANUFACTURING COST INCURRED DURING DECEMBER * 2,138,400 2,138,500 2,148,400 2,158,400 C. AMORE'S COST OF GOODS MANUFACTURED * 2,224,800 2,214,800 2,234,800 2,244,800 D. AMORE'S COST OF GOODS SOLD * 2,203,200 2,213,200 2,223,200 2,233,200 E. AMORE'S PROFIT * 1,936,800 1,926,800 1,916,800 1,906,800 F. AMORE'S NET INCOME * 1,396,800 1,386,800 1,376,800 1,366,800 G. REAL'S COST OF DIRECT MATERIALS USED IN PRODUCTION * 339,000 329,000 319,000 309,000 H. REAL'S DIRECT LABOR * 516,000 508,000 518,000 506,000 I. REAL'S WORK IN PROCESS INVENTORY DECEMBER 31 * 453,000 453,100 453,200 453,300 J. REAL'S FINISHED GOODS INVENTORY IN DEMBER 31 * 177,000 277,000 377,000 477,000 K. REAL'S GROSS PROFIT * 624,000 724,000 734,000 634,000 L. REAL'S OPERATING EXPENSES * 240,000 340,000 440,000 540,000
Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of December 2019: AMORE 280,280.00 REAL 177,000 materials inventory, December 1 Materials inventory, December 31 Materials purchased 180,000.00 712,800.00 342,000.00 Cost of direct materials used in production 762,400.00 Direct labor Factory overhead Total manufacturing costs incurred during December 1,058,400.00 188,000.00 1,035,000.00 1,477,500.00 442,600.00 327,600.00 2,678,400.00 540,000.00 Total manufacturing costs Work in process inventory, December 1 Work in process inventory, December 31 Cost of goods manufactured Finished goods inventory, December 1 Finished goods inventory, December 31 Sales Cost of goods sold Gross profit Operating expenses Net income 453,600.00 1.024,500.00 304,000.00 475,200.00 496,800.00 1,775,500.00 1.051,500.00 4,140,000.00 K 540,000.00 384,000.00
Transcribed Image Text:Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of December 2019: AMORE 280,280.00 REAL 177,000 materials inventory, December 1 Materials inventory, December 31 Materials purchased 180,000.00 712,800.00 342,000.00 Cost of direct materials used in production 762,400.00 Direct labor Factory overhead Total manufacturing costs incurred during December 1,058,400.00 188,000.00 1,035,000.00 1,477,500.00 442,600.00 327,600.00 2,678,400.00 540,000.00 Total manufacturing costs Work in process inventory, December 1 Work in process inventory, December 31 Cost of goods manufactured Finished goods inventory, December 1 Finished goods inventory, December 31 Sales Cost of goods sold Gross profit Operating expenses Net income 453,600.00 1.024,500.00 304,000.00 475,200.00 496,800.00 1,775,500.00 1.051,500.00 4,140,000.00 K 540,000.00 384,000.00
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