prepare detailed Cost Statement for the year ended 31-3-2021.      Particulars Amt. Opening Stock – Raw  Materials                               Finished Goods Purchases of raw Materials Direct Wages Power Carriage on Purchase of Raw Materials Cost Of Special Design Customs Duty and Octroi on Raw Materials Rent and Rates –Office                                Factory Telephone Expenses Advertisement Electricity -Office                      Factory Machinery Lost in Fire Depreciation –Plant and Machinery                            Delivery Van Income tax Salaries Donations Establishment expenses Rent of Showroom Interest on Loan Sale of Factory Scrap Dividend Received Directors Fees Mailing Charges of Sale Literature Closing Stock – Raw Materials                             Finished Goods 20,000 30,000 15,00,000 12,00,000 99,500 20,000 50,000 60,000 50,000 70,000 30,000 75,000 15,000 30,000 1,00,000 80,000 20,000 1,20,000 2,50,000 70,000 1,00,000 65,000 45,000 7,500 17,500 60,000 10,000 1,85,000 30,000 Other Information: (a)    60% of Telephone Expenses relate to Office and 40% to Sales Department. (b)    Salaries to be allocated to the Factory, office and sales department in the ratio of 1:2:1. (c)     Establishment Expenses are to be apportioned equally between office and sales department. (d)    Sales are made to earn profit @20% on selling price.

Subject :- Accounting

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Present entries in general journal form to record the following summarized operations related to production for The John Kinky Toy Company. Please use the following chart of accounts for questions 31 to 41: 10 Cash 20 Accounts Payable 11 Accounts Receivable 21 Wages Payable 12 Materials 22 Plant Taxes Payable 13 Work in Process 30 Common Stock 14 Prepaid Factory Insurance 35 Retained Earnings 15 Finished Goods Inventory 40 Sales 16 Plant 50 Cost of Goods Sold 17 Accumulated Depreciation 70 Factory Overhead   ***It is very important that you use the above accounts. Do not use commas or dollar signs ($) in your answer. Direct materials requisitioned for production, $50,000.   Date   Debit Credit     $50,000              $50,

Required information [The following information applies to the questions displayed below] The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Finished goods inventory, ending Work in process inventory, ending Raw materials inventory, ending Factory utilities General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net Garcon Company $ 12,000 14,500 7,250 27,000 19,000 17,650 22,000 5,300 9,000 21,000 9,450 Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper 4,780 33,000 50,000 Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended Naramhar 11 195,030 20,000 13,200 Pepper Company $ 16,450 19,950 9,000 22,750 35,000 13,300 16,000 7,200 12,000 43,000 10,860…

Melville Manufacturing produces metal components for automotive suppliers. Financial records for September show the following: Administrative salaries Depreciation on the administrative building Depreciation on the manufacturing plant Direct labor Direct materials inventory, September 1 Direct materials inventory, September 30 Direct materials purchased during the month Distribution costs Finished goods inventory, September 1 Finished goods inventory, September 30 Indirect manufacturing labor Insurance (on manufacturing plant) Legal fees Maintenance (on the manufacturing plant) Manufacturing plant utiities Marketing costs Other manufacturing plant costs Sales revenue Taxes (on manufacturing plant and property) Work-in-process inventory, September 1 Work-in-process inventory, September 30 Manufacturing costs: Direct materials: 30 Required: a. Prepare a cost of goods manufactured and sold statement. b. Prepare an income statement. 2,643,000 1,160,000 1,768,000 4,710,500 1,087,200…

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[The following Information applies to the questions displayed below. The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Finished goods inventory, ending Work in process inventory, ending Raw materials inventory, ending Factory utilities General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net Garcon Company $ 13,300 15,700 11,700 27,750 21,800 21,950 25,600 7,100 13,800 27,500 15,700 6,380 40,000 53,600 284,550 26,000 14,400 Pepper Company $ 18,550 19,500 12,000 25,750 38,600 13,600 19, 200 8,600 14,750 43,500 13,920 3,300 55,500 57,400 379,108 17,700 21,950 Exercise 18-8 (Algo) Preparing financial statements for a manufacturer LO P1 1. Prepare Income statements for both Garcon Company and…