FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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From the account balances listed below, prepare a schedule of cost of goods manufactured for Crane Manufacturing Company for the
month ended December 31, 2022. (Assume all raw materials used were direct materials.)
Finished Goods Inventory, December 31
Factory Supervisory Salaries
Income Tax Expense
Raw Materials Inventory, December 1
Work In Process Inventory, December 31
Sales Salaries Expense
Factory Depreciation Expense
Finished Goods Inventory, December 1
Raw Materials Purchases
Work In Process Inventory, December 1
Factory Utilities Expense
Direct Labor
Raw Materials Inventory, December 31
Sales Returns and Allowances
Indirect Labor
Account Balances
$52,920
15,120
22,680
15,120
18,900
17,640
10,080
44,100
132,300
31,500
7,560
88,200
23,940
6,300
26,460
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Transcribed Image Text:From the account balances listed below, prepare a schedule of cost of goods manufactured for Crane Manufacturing Company for the month ended December 31, 2022. (Assume all raw materials used were direct materials.) Finished Goods Inventory, December 31 Factory Supervisory Salaries Income Tax Expense Raw Materials Inventory, December 1 Work In Process Inventory, December 31 Sales Salaries Expense Factory Depreciation Expense Finished Goods Inventory, December 1 Raw Materials Purchases Work In Process Inventory, December 1 Factory Utilities Expense Direct Labor Raw Materials Inventory, December 31 Sales Returns and Allowances Indirect Labor Account Balances $52,920 15,120 22,680 15,120 18,900 17,640 10,080 44,100 132,300 31,500 7,560 88,200 23,940 6,300 26,460
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