Larkspur Corporation has the following cost records for June 2022.Indirect factory laborDirect materials usedWork in process, 6/1/22Work in process, 6/30/22Finished goods, 6/1/22Finished goods, 6/30/22(a)$4,80020,800Factory utilitiesDepreciation, factory equipmentDirect laborMaintenance, factory equipment3,1203,9605,200 Indirect materials used7,800 Factory manager's salaryYour answer is partially correct.Prepare a cost of goods manufactured schedule for June 2022.$4201,46041,6001,8802,4003,120 +LARKSPUR CORPORATIONCost of Goods Manufactured ScheduleFor the Month Ended June 30, 2022000000M

The cost of goods manufactured schedule is used to calculate the cost of manufacturing things over…

Larkspur Corporation has the following cost records for June 2022. Indirect factory labor $4,800 Direct materials used 20,800 Work in process, 6/1/22 3,120 Work in process, 6/30/22 3,960 Maintenance, factory equipment Finished goods, 6/1/22 5,200 Indirect materials used Finished goods, 6/30/22 7,800 Factory manager's salary (a) Factory utilities Depreciation, factory equipment Direct labor Your answer is partially correct. Prepare a cost of goods manufactured schedule for June 2022. $420 1,460 41,600 1,880 2,400 3,120

Larkspur Corporation has the following cost records for June 2022. Indirect factory labor $4,800 Direct materials used 20,800 Work in process, 6/1/22 3,120 Work in process, 6/30/22 3,960 Maintenance, factory equipment Finished goods, 6/1/22 5,200 Indirect materials used Finished goods, 6/30/22 7,800 Factory manager's salary (a) Factory utilities Depreciation, factory equipment Direct labor Your answer is partially correct. Prepare a cost of goods manufactured schedule for June 2022. $420 1,460 41,600 1,880 2,400 3,120

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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1. FAN Company has the following data for the year 2021 (in thousand) January 1, 2021 December 31, 2021 Raw Materials Inventory $16,300 $15,000 Work-in-process Inventory $40,000 $40,110 Finished Goods Inventory $49,600 $44,256 During 2021 the amount of raw material purchased was $21,700 and direct labor costs incurred were $10,100. The finance department also provides the following additional data : Factory Machinery Rent 1,840 Indirect Materials $ 3,400 Delivery Expense $ 760 Factory Utilities $ 1,200 Depreciation on Factory Building 3,500 Sales Commissions $ 340 Administrative Expense $ 1,620 Factory Insurance $ 1,266 Sales Revenue $ 98,600 Factory Manager's Salary $ 2,240 Indirect Labor $ 5,670 Instructions: a. Prepare a cost of goods manufactured schedule for FAN Company for 2021! %24
Aikman Corporation has the following cost records for June 2022: Indirect factory labour Direct materials used Work in process (6/1/22) Work in process (6/30/22) Finished goods (6/1/22) Finished goods (6/30/22) S 4,850 25,200 3,200 3,400 5,350 9,300 Factory utilities Depreciation, factory equipment Direct labour Maintenance, factory equipment Indirect materials Factory manager's salary-11: $500 1,600 30,900 2,200 2,300 3,100 (a) Prepare a cost of goods manufactured schedule for June 2022.
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Zoe Corporation has the following information for the month of March: Cost of direct materials used in production $15,852 Direct labor 23,816 Factory overhead 39,444 Work in process inventory, March 1 20,490 Work in process inventory, March 31 21,368 Finished goods inventory, March 1 23,826 Finished goods inventory, March 31 25,639 a. Determine the cost of goods manufactured.$fill in the blank 1 b. Determine the cost of goods sold.$fill in the blank 2
Using the attached Prepare a schedule of cost of goods manufactured.
Wildhorse Corporation has the following cost records for the year ended December 31, 2022: Indirect factory labour $5,360 Direct materials used 250,300 Work in process (1/1/2022) 31,800 Work in process (12/31/2022) 26,800 Finished goods (1/1/2022) 35,800 Finished goods (12/31/2022) 29,300 Factory utilities 41,300 Depreciation, factory equipment 34,400
Metlock Company reports the following costs and expenses in May. Factory utilities Depreciation on factory equipment Depreciation on delivery trucks Indirect factory labor Indirect materials Direct materials used Factory manager's salary From the information $13,300 10.870 3,340 Manufacturing overhead 42,120 69,440 118,480 7,000 Direct labor Sales salaries Property taxes on factory building Repairs to office equipment Factory repairs Advertising Office supplies used Determine the total amount of manufacturing overhead.. $59,480 39,820 2.150 1,130 1,720 12.900 2,260 su
Accenture Chemicals has the following data relating to its factory in the year ended 31 December 2020: Direct material costs OMR 500 Direct labor cost OMR 250 The total indirect expenses for the factory are OMR 30,000. There were 5,000 labor hours worked and 25,000 machine hours consumed in the factory in the year 2020. Compute the overhead rate based on direct labor hour. None of these b. OMR 6.000 / hour COMR 1.000 / hour d. OMR 6.150 / hour
Superior Manufacturing Company has the following cost and expense data for the year ending December 31, 2010. Raw materials, I/1/10- Raw materials, 12/31/10- Raw materials purchases Indirect materials - $15,000 MO Work in process, 1/1/10- Work in process, 12/31/10 - Finished goods, 1/1/10 – Finished goods, 12/31/10- Direct labor - Factory manager's salary - $35,000 MO $30.000 $20,000 Property taxes, factory building $6,000 MO $205,000 Sales (net) $1,500,000 Insurance, factory $14.000 MO Delivery expenses $100,000 $80,000 Sales commissions $150,000 $50,000 Indirect labor $110,000 Factory machinery rent $40,000MO $120,000 Factory utilities $350,000 Depreciation, factory building $24,000 MO $90,000 MO $65,000 MO Administrative expenses $300,000 X Instructions (a) Prepare a cost of goods manufactured schedule for Superior Company for 2010. (b) Prepare an income statement for Superior Company for 2010. (c) Assume that Superior Company's ledgers show the balances of the following current…
The cost of raw materials purchases for 2019 is?