Bay view Electronics Inc. manufactures high-quality audio equipment. The following selected financial information for the fiscal year 2020 is provided: Item Sales Cost of Goods Manufactured Direct Material Purchased Factory Overhead Work in Process-January 1 Work in Process-December 31 Direct Material-December 31 Amount $300,000 $90,000 $120,000 $35,000 $70,000 $40,000 $30,000 Finished Goods Inventory-December 31 $80,000 Net Income Direct Materials Used Cost of Goods Sold $50,000 $100,000 $110,000 Use this information to determine the dollar amount of Bay view Electronics' Finished Goods Inventory for January 1, 2020.

View Policies Current Attempt in Progress The following data were taken from the records of Shamrock Company for the fiscal year ended June 30, 2022. Raw Materials Inventory 7/1/21 Raw Materials Inventory 6/30/22 Finished Goods Inventory 7/1/21 Finished Goods Inventory 6/30/22 Work in Process Inventory 7/1/21 Work in Process Inventory 6/30/22 Direct Labor Indirect Labor $50,400 39,900 99,600 20,600 27,300 20,100 148,350 25,660 Accounts Receivable Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Factory Manager's Salary Factory Property Taxes Factory Repairs Raw Materials Purchases Cash $28,000 5,500 18,100 30,100 8,650 562,100 5,300 64,900 9.610 2,200 98,700 38,200

Constanza Company has the following balances as of the year ended December 31, 2019: Direct Materials Inventory $30,000 Dr. WIP Inventory 69,000 Dr. Finished Goods Inventory 99,000 Dr. Underapplied Factory Department Overhead 8,000 Dr. Cost of Goods Sold 149,000 Dr. Additional information is as follows: Cost of direct materials purchased during 2019 $82,000 Cost of direct materials requisitioned in 2019 74,000 Cost of goods completed during 2019 204,000 Factory overhead applied (120% of direct labor) 96,000 Compute beginning WIP inventory.

SHAMROCK COMPANY Balance Sheet (Partial) For the Year Ended June 30, 2022 ASSETS $ $ $

The beginning and ending balance of selected accounts of Drea Paper Products Inc. for the year 2020 are given below:   Ending Balance  Beginning Balance Finished goods P400,000 P385,000 Work on process 520,000  495,000 Raw materials 710,000            750,000 Transactions that transpired during the year were:             Raw materials costing P280,000 were purchased for cash.             Raw materials costing P220,000 were purchased on account.             Incurred factory overhed cost, P135,000. Other materials requisitioned for production, P30,000             Factory wages consisted of: Direct labor, P270,000; Indirect labor, P100,000.             Finished goods costing 350,000 were sold for P800,000. Required: Prepare the statement of cost of goods manufactured and sold in good form. Determine the following: a. Prime cost b. Conversion cost c. Product cost.

The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020. Raw Materials Inventory 7/1/19   $54,800   Factory Insurance   $5,300 Raw Materials Inventory 6/30/20   49,200   Factory Machinery Depreciation   16,500 Finished Goods Inventory 7/1/19   96,400   Factory Utilities   29,500 Finished Goods Inventory 6/30/20   28,500   Office Utilities Expense   9,250 Work in Process Inventory 7/1/19   22,600   Sales Revenue   561,300 Work in Process Inventory 6/30/20   27,300   Sales Discounts   4,500 Direct Labor   139,550   Plant Manager’s Salary   66,100 Indirect Labor   24,960   Factory Property Taxes   9,710 Accounts Receivable   34,900   Factory Repairs   2,300         Raw Materials Purchases   99,500         Cash   36,300   (a) Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct materials.) (b) Prepare an income statement through gross profit. (c) Prepare the current assets…

Coronado Industries's accounting records reflect the following inventories: Raw materials inventory Work in process inventory Finished goods inventory Dec. 31, 2020 O $2050000. $1910000. $2110000. $2010000. $310000 300000 190000 Dec. 31, 2019 $250000 160000 150000 During 2020, $800000 of raw materials were purchased, direct labor costs amounted to $670000, and manufacturing overhead incurred was $640000. Coronado Industries's total manufacturing costs incurred in 2020 amounted to

The following information is available for the QRS Corporation for 2019:  Inventories                                    January 1                                         December 31 Materials                                       $351,000                                          $436,800 Work in process                             631,800                                             592,800 Finished goods                               608,400                                             576,000   Advertising expense                                                                                $ 296,400 Depreciation expense-office equipment                                                   42,120 Depreciation expense-factory equipment                                                 56,160 Direct labor                                                                                                    670,800 Heat, Light and Power-Factory…

The following data were taken from the records of Waterway Company for the fiscal year ended June 30, 2020. Raw Materials Inventory 7/1/19   $48,100   Factory Insurance   $5,600 Raw Materials Inventory 6/30/20   46,200   Factory Machinery Depreciation   18,600 Finished Goods Inventory 7/1/19   99,600   Factory Utilities   29,200 Finished Goods Inventory 6/30/20   21,600   Office Utilities Expense   8,850 Work in Process Inventory 7/1/19   27,700   Sales Revenue   561,400 Work in Process Inventory 6/30/20   25,300   Sales Discounts   4,900 Direct Labor   144,150   Plant Manager’s Salary   64,400 Indirect Labor   24,960   Factory Property Taxes   9,910 Accounts Receivable   29,900   Factory Repairs   2,100         Raw Materials Purchases   99,200         Cash   40,700

The following data were taken from the records of Waterway Company for the fiscal year ended June 30, 2020. Raw Materials Inventory 7/1/19   $48,100   Factory Insurance   $5,600 Raw Materials Inventory 6/30/20   46,200   Factory Machinery Depreciation   18,600 Finished Goods Inventory 7/1/19   99,600   Factory Utilities   29,200 Finished Goods Inventory 6/30/20   21,600   Office Utilities Expense   8,850 Work in Process Inventory 7/1/19   27,700   Sales Revenue   561,400 Work in Process Inventory 6/30/20   25,300   Sales Discounts   4,900 Direct Labor   144,150   Plant Manager’s Salary   64,400 Indirect Labor   24,960   Factory Property Taxes   9,910 Accounts Receivable   29,900   Factory Repairs   2,100         Raw Materials Purchases   99,200         Cash   40,700     Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct materials.)