Aikman Corporation has the following cost records for June 2020: Direct materials (6/1/20)  $  10,000 Direct materials (6/30/20) 5,000 Direct materials Purchases 20,000 Direct labour  30,000 Indirect factory labour 4,500 Factory utilities  $ 400 Depreciation, factory equipment  1,400 Maintenance, factory equipment  1,800 Indirect materials  2,200 Factory manager’s salary  3,000 Work in process (6/1/20)  3,000 Work in process (6/30/20)  2,800 Finished goods (6/1/20)  5,000 Finished goods (6/30/20)  9,500 Marketing Costs 11,000 General and Administrative Costs 6,000   Prepare a cost of goods manufactured schedule for June 2020. Prepare an income statement through operating profit for June 2020, assuming net sales are $120,000.

1) Grant's Ironhorse Company manufactures model railroad cars. At the end of October, 2019 the accounting records showed the following: Inventories: Beginning: Ending: Direct Materials $10,000 $5,000 Work-in-Process 15,000 20,000 Finished Goods 0 5,800 Other Information:     Direct Materials Purchases   40,000 Plant maintenance services   6,800 Plant supervisor's salary   31,500 Sales salaries   12,700 Delivery costs   3,100 Sales revenue   236,000 Utilities for plant   10,500 Rent on plant   23,000 Advertising   8,000 Direct labor   30,000 (a) Prepare a schedule of cost of goods manufactured for Grant's Ironhorse Company and (b) Prepare an income statement for Grant's Ironhorse Company for the year ended October 31, 2019

During 2022, Vaughn Manufacturing estimated that Job No. 26 would incur $300000 of overhead, $500000 of materials, and $200000 in labor. Vaughn applied overhead based on direct labor cost. Actual production required an overhead cost of $340000, $450000 in materials used, and $320000 in labor. All of the goods were completed. What amount was transferred to Finished Goods Inventory? O $1250000 O $1000000 O $1110000 O $970000

Yamishi Production had the following inventories for the first quarter of 2022: MaterialsWork in process Finished goods Beginning $606,600 312,100 416,100 Ending $522,100 280,800 540,200 Purchases of materials during the quarter were $427,800. Total direct labor costs were incurred in the amount of $1,482,000. Actual overhead costs were incurred as follows: operating supplies used, $17,100; janitorial and maintenance, $87,300; employee benefits, $26,400; utilities, $162,000; depreciation of factory, $43,200; property taxes, $24,000; factory insurance, $29,000. Net sales for the quarter were $3,562,200. Selling and administrative expenses were $508,000. Income taxes should be computed at 40 percent. Calculate cost of goods manufactured. 6. Company produces small boats. Each boat uses 2 sheets of direct materials at $3 a sheet, it takes 2 hours to finish one boat and hourly rate is $5, factory utilities and supervision cost $6 per boat and variable cost amounts to $2 per direct labor…