Partial balance sheet data for Diesel Additives Company at August 31 äre as follows: Finished goods inventory $ 89,400 $ 13,800 Prepaid insurance Accounts receivable Supplies Materials inventory Cash 9,000 26,800 348,200 167,500 Work in process inventory 61,100 Prepare the Current assets section of Diesel Additives Company's balance sheet at August 31.
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- Manufacturing Company Balance Sheet Partial balance sheet data for Upper Crust Company at August 31 are as follows: Finished goods inventory Prepaid insurance Accounts receivable. Work in process inventory Supplies Materials inventory Cashi Prepare the Current Assets section of Upper Crust Company's balance sheet at August 31. Upper Crust Company Balance Sheet August 31 Current assets: Inventories: Total inventories $7,300 7,400 19,000 29,200 13,100 16,100 20,400 Total current assetsANALYSIS OF ACTIVITY MEASURES Based on the financial statement data in Exercise 24-1B, compute the following activity measures for 20-2 (round all calculations to two decimal places): (a) Accounts receivable turnover (b) Merchandise inventory turnover (c) Asset turnoverOn December 31, Pitts Manufacturing Company reports the following assets: What is the total amount of Pitts inventory at year-end?
- Required Information [The following information applies to the questions displayed below) The following data is provided for Garcon Company and Pepper Compeny for the year ended December 31. Garcon Company $12,100 15, e Pepper Company $18,55e 21,7 10,s00 14,40 25, 20,400 .0 25,3 22, 00 20,0 7,000 12,25e 47,000 34,620 1, Finished goods inventory, beginning Mork in process inventory, beginning Raw naterlals lnventory, beginning Rental cost on factory equlpeent Direct labor 11,250 intshed goods inventory, ending Mork in process ineeetory, ending Ran naterials inventory, ending Factory utilities General and adeanistrative expenses Indirect labor Repairs-factory equipeent Raw naterials purchases Selling expenses Sales Cash Accounts receivable, net 17,4s0 7.000 13,35e 34, 14,95e 5,420 43,500 271,60 2,4 29,20 22,e 13,200 1. Complete the table to find the cost of goods manufsctured for both Garcon Company and Pepper Company for the year ended December 31. 2. Complete the toble to calculate the…Suppose that applied accounts of a production company is as attached. The inventory balances is as follows: raw materials (beginning: 140.000 TL, ending: 115.000 TL), work-in process (beginning: 60.000 TL, ending: 55.000 TL) and finished goods (beginning: 65.000 TL, ending: 80.000 TL). The sales revenue is 2.000.000 TL. Prepare the income statement. Applied to the cost Applied to the period costs Applied to the idle Applied to the cost of TOTAL of production capacity losses PPE Direct materials cost applied account 850,000.00 20,000.00 870.000.00 Direct labor cost applied account 260.000.00 250.000.00 10.000.00 400,000.00 10.000.00 40.000.00 450.000.00 Factory overhead applied account Selling expenses applied account General adm. Exp. Applied acount Financing expenses applied account 70.000.00 70,000.00 120,000,00 120.000.00 30.000.00 15.000.00 45.000.00 TOTAL 1.500.000.00 230.000.00 40.000.00 45.000.00 L815.000.00The following information is taking from Wei Min Enterprise for the year ended 31 December 2020: Particulars RM Inventory at 1 January 2020: Raw materials Work in progress Finished goods 25,400 31,100 23,260 Purchases : raw materials 91,535 Carriage on raw materials 1,960 Direct labour 84,208 Office salaries 33,419 Rent 5,200 Office lighting and heating 4,420 Depreciation: Works machinery Office equipment 10,200 2,300 Sales 318,622 Factory fuel and power 8,120 Additional information: Rent is to be apportioned: factory ¾; office ¼ Inventory at 31 December 2020 was: Raw materials RM28,900 Work in progress RM24,600 Finished goods RM28,840 Required: a) Prepare statement of cost production for the year ended 31 December 2020. b) Prepare statement of comprehensive income for the year ended 31 December 2020.
- The following information is taking from Wei Min Enterprise for the year ended 31 December 2020: Particulars RM Inventory at 1 January 2020: Raw materials Work in progress Finished goods 25,400 31,100 23,260 Purchases : raw materials 91,535 Carriage on raw materials 1,960 Direct labour 84,208 Office salaries 33,419 Rent 5,200 Office lighting and heating 4,420 Depreciation: Works machinery Office equipment 10,200 2,300 Sales 318,622 Factory fuel and power 8,120 Rent is to be apportioned: factory ¾; office ¼ Inventory at 31 December 2020 was: Raw materials RM28,900 Work in progress RM24,600 Finished goods RM28,840 Required: Prepare statement of cost production for the year ended 31 December 2020 Prepare statement of comprehensive income for the year ended 31 December 2020Cost of goods sold—merchandiser and manufacturerThe following data were taken from the general ledgers and other data of Alpha Manufacturing, Inc., and Bravo Merchandis-ing Co. on April 30 of the current year: Merchandise inventory, April 1 . ................................. $ 38,000Finished goods, April 1 . . . ....................................... 67,000Purchases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 121,000Cost of goods manufactured . . . . . . .............................. 287,000Merchandise inventory, April 30 ................................. 33,000Finished goods, April 30 . . . . .................................... 61,000 LO1 LO3 54 Principles of Cost Accounting Required:1. Compute the cost of goods sold for Bravo Merchandising Co.,selecting the appropriate items from the previous list.2. Compute the cost of goods sold for Alpha Manufacturing,Inc., selecting the appropriate items from the previous list.The balances in the perpetual inventory accounts of Anditon Manufacturing Corporation at the beginning and end of the current year are as follows: End of year Beginning of year Inventory accounts Materials $126,000 $222,000 Work in pRogress 109,000 75,000 Finished goods inventory 325,000 238,000 The total dollar amounts debited and credited during the year to the accounts used in recording manufacturing activites are as follows: Debit entries Credit entries Account Materials Inventory $2,410,000 $? Direct Labor 1,189,000 992,000 Manufacturing Overhead 893,600 893,600 Work in process inventory ? ? Finished goods inventory ? ? A. Using this data, state or compute for the year the following amounts. Direct materials purchased Direct materials used Payments of direct labor payrolls Direct labor cost assigned to production Total manufacutring costs charged to the work inprocess inventory account during the year Total…
- on a comparative balance sheet we have: inventory Prior year: 47 million Inventory current year: 49 million Accounts Payable prior year: 30 accounts payable current year: 27 * all inventory is purchased on account, and the Accounts Payable is used exclusively for inventory purchases. *make a t-chart for each account * what would be the journal entry to support the operating activityGreece Company provided the following data for the current year: Inventory - January 1: Cost Net realizable value Net purchases Inventory – December 31: Cost 3,000,000 2,800,000 8,000,000 4,000,000 3,700,000 Net realizable value What amount should be reported as cost of goods sold?The following inventory information is available for Cullumber Manufacturing Corporation for the year ended December 31, 2022: Beginning Ending Inventories: Raw materials $18,020 $20,140 Work in process 9,540 14,840 Finished goods 11,660 8,480 Total $39,220 $43,460 In addition, the following transactions occurred in 2022: 1. Raw materials purchased on account, $79,500. 2. Incurred factory labor, $84,800, all is direct labor. Incurred the following overhead costs during the year: utilities $7,208, depreciation on manufacturing machinery $8,480, manufacturing machinery repairs $9,752, factory insurance $9,540 (Credit Accounts Payable and Accumulated 3. Depreciation). 4. Assigned $84,800 of factory labor to jobs. 5. Applied $38,160 of overhead to jobs.