LARKSPUR COMPANYBalance Sheet (Partial)ASSETS$$ The following data were taken from the records of Larkspur Company for the fiscal year ended June 30, 2025.Raw Materials Inventory 7/1/24Raw Materials Inventory 6/30/25Finished Goods Inventory 7/1/24Finished Goods Inventory 6/30/25Work in Process Inventory 7/1/24Work in Process Inventory 6/30/25Direct LaborIndirect Labor$57,50041,50096,30022,10021,30028.200142,65026,760Accounts ReceivableFactory InsuranceFactory Machinery DepreciationFactory UtilitiesOffice Utilities ExpenseSales RevenueSales DiscountsFactory Manager's SalaryFactory Property TaxesFactory RepairsRaw Materials PurchasesCash$29,9004,90017,00031.1008,550561,300.4,30065,1009.6101,50099,40042.100

Name: LARKSPUR COMPANYBalance Sheet (Partial)ASSETS$$ The following data we
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Description: LARKSPUR COMPANYBalance Sheet (Partial)ASSETS$$ The following data were taken from the records of Larkspur Company for the fiscal year ended June 30, 2025.Raw Materials Inventory 7/1/24Raw Materials Inventory 6/30/25Finished Goods Inventory 7/1/24Fi

Current assets are the resources which are owned by the company and are used for earning income.…

Business

Accounting

The following data were taken from the records of Larkspur Company for the fiscal year ended June 30, 2025. Raw Materials Inventory 7/1/24 Accounts Receivable Raw Materials Inventory 6/30/25 Factory Insurance Finished Goods Inventory 7/1/24 Factory Machinery Depreciation Finished Goods Inventory 6/30/25 Factory Utilities Work in Process Inventory 7/1/24 Office Utilities Expense Work in Process Inventory 6/30/25 Sales Revenue Direct Labor Sales Discounts Indirect Labor $57,500 41,500 96,300 22,100 21,300 28.200 142,650 26,760 Factory Manager's Salary Factory Property Taxes Factory Repairs Raw Materials Purchases Cash $29,900 4,900 17,000 31,100 8,550 561,300 4,300 65,100 9.610 1,500 99,400 42.100

The following data were taken from the records of Larkspur Company for the fiscal year ended June 30, 2025. Raw Materials Inventory 7/1/24 Accounts Receivable Raw Materials Inventory 6/30/25 Factory Insurance Finished Goods Inventory 7/1/24 Factory Machinery Depreciation Finished Goods Inventory 6/30/25 Factory Utilities Work in Process Inventory 7/1/24 Office Utilities Expense Work in Process Inventory 6/30/25 Sales Revenue Direct Labor Sales Discounts Indirect Labor $57,500 41,500 96,300 22,100 21,300 28.200 142,650 26,760 Factory Manager's Salary Factory Property Taxes Factory Repairs Raw Materials Purchases Cash $29,900 4,900 17,000 31,100 8,550 561,300 4,300 65,100 9.610 1,500 99,400 42.100

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 4PA: During March, the following costs were charged to the manufacturing department: $14886 for...

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