The following were taken from the general ledger and other data of Du- sik Manufacturing on July 31: Finished goods, July 1- P85,000; Cost of goods manufactured in July P343,000; Finished goods, July 31 is P93,000. Compute the cost of goods sold *
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- All applicable Cases are available with McGraw-Hill’s Connect™Accounting. Cost of goods manufactured, cost of goods sold, and income statement Determine each of the following missing amounts:Firm A Firm B Firm CBeginning raw materials inventory . . . . . . . . . . . . . . . . . $ 17,000 $ ? $ 42,000Purchases of raw materials during the year . . . . . . . . . . ? 96,000 226,000Raw materials available for use . . . . . . . . . . . . . . . . . . . ? 119,000 ?Ending raw materials inventory . . . . . . . . . . . . . . . . . . . 12,000 ? 51,000Cost of raw materials used . . . . . . . . . . . . . . . . . . . . . . 90,000 101,000 ?Direct labor costs incurred. . . . . . . . . . . . . . . . . . . . . . . 130,000 ? 318,000Variable manufacturing overhead applied. . . . . . . . . . . . ? 34,000 72,000Fixed manufacturing overhead applied. . . . . . . . . . . . . . 100,000 60,000 ?Total manufacturing costs incurred . . . . . . . . . . . . . . . . 370,000 ? ?Beginning work in process. . . . . . . . .…The following were taken from the general ledger and other data of Du- sik Manufacturing on July 31: Finished goods, July 1- P85,000; Cost of goods manufactured in July P343,000; Finished goods, July 31 is P93,000. Compute the cost of goods manufactured. Your answerCost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following information is available for Aricanly Manufacturing Company for the month ending January 31: Cost of goods manufactured $198,240 Selling expenses 66,220 Administrative expenses 35,010 Sales 421,790 099 43,440 Finished goods inventory, January 1 Finished goods inventory, January 31 a. For the month ended January 31, determine Aricanly's cost of goods sold. Aricanly Manufacturing Company Cost of Goods Sold January 31 Finished goods inventory, January 1 Cost of goods manufactured Cost of finished goods available for sale Less finished goods inventory, January 31 PIOS spoob jo 150) Feedback Show all 12:43 AM a (中岁。 11/3/2021 直0 su prt sc delete 114 1AA backspace 00 pause home ctri
- Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following information is available for Aricanly Manufacturing Company for the month ending January 31: Cost of goods manufactured $292,550 Selling expenses 97,720 Administrative expenses 51,660 Sales 622,440 Finished goods inventory, January 1 70,340 Finished goods inventory, January 31 64,110 a. For the month ended January 31, determine Aricanly's cost of goods sold. Aricanly Manufacturing Company Cost of Goods Sold January 311. Calculate for the inventory of materials, December 31. 2. Calculate for the total or over-all manufacturing cost. 3. Calculate for the cost of goods manufactured. 4. Calculate for the total cost of goods sold. 5. Calculate for the work in process inventory, December 31. 6. Calculate for the finished goods inventory, December 31. 7. Calculate for the gross profit/loss for the year.Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following information is available for Bandera Manufacturing Company for the month ending January 31: Cost of goods manufactured $165,390 Selling expenses 55,250 Administrative expenses 29,210 Sales 351,890 Finished goods inventory, January 1 39,760 Finished goods inventory, January 31 36,240 a. For the month ended January 31, determine Bandera Manufacturing’s cost of goods sold. Bandera Manufacturing Company Cost of Goods Sold January 31 $ $ $ b. For the month ended January 31, determine Bandera Manufacturing’s gross profit. Bandera Manufacturing Company Gross Profit January 31 $ $ c. For the month ended January 31, determine Bandera Manufacturing’s net income. Bandera Manufacturing Company Net Income January 31 $ Operating expenses: $ Total operating expenses…
- Wadi Nam Company had the following information: beginning work in process inventory, OMR 180,000; cost of goods manufactured, OMR 866,0003; beginning finished goods inventory, OMR 252,000; ending work in process inventory, OMR 220,000; and ending finished goods inventory, OMR 264,000. Wadi Nam Company's cost of goods sold for the year is:Required information [The following information applies to the questions displayed below.] Use the following selected account balances of Delray Manufacturing for the year ended December 31. Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases. Direct labor Indirect labor Repairs-Factory equipment Rent cost of factory building Selling expenses General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending $ 2,700,000 112,000 146,000 190,000 515,000 618,000. 93,000 74,000 148,000 237,000 379,000 134,000 175,000 228,000 Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $1,397,00The following figures have been extracted from the records of Necon manufacturing companyfor the year ending 31st December, 2019. You are required to prepare a statement of costshowing : (a) Cost of raw materials consumed(b) Prime Cost (c) Factory Cost(d) Cost of production(e) Cost of goods sold (f)Total cost of goods sold and profit on sales. $Stock of Raw Materials (1-1-19) 3,000Stock of Raw Materials (31-12-19) 2,400Purchases of Raw materials 14,000Stock of work-in-progress (1-1-19) 1,000Stock of work-in-progress (31-12-19) 800Carriage inward 500Manufacturing wages 4,000Other direct expenses 200Indirect wages 1,000Experiment expenses 400Wastage of materials…
- The following balances are from the accounts of Tappan Parts: January 1 (Beginning) Direct materials inventory Work-in- process inventory Finished goods inventory $ December 31 (Ending) 22,300 32,200 5,500 $ 25,400 29,300 7,200 Direct materials used during the year amount to $45,800 and the cost of goods sold for the year was $53,400. Required: Prepare a cost of goods sold statementCost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following information is available for Bandera Manufacturing Company for the month ending January 31: Cost of goods manufactured elling expenses dministrative expenses ales inished goods inventory, January 1 inished goods inventory, January 31 . For the month ended January 31, determine Bandera Manufacturing's cost of goods sold. Bandera Manufacturing Company Cost of Goods Sold January 31 . For the month ended January 31, determine Bandera Manufacturing's gross profit. Bandera Manufacturing Company Gross Profit January 31 . For the month ended January 31, determine Bandera Manufacturing's net income. Bandera Manufacturing Company Net Income January 31 $167,280 55,880 29,540 355,910 40,220 36,660 Operating expenses: Total operating expenses 100Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following information is available for Bandera Manufacturing Company for the month ending January 31: Cost of goods manufactured $148,080 Selling expenses 49,470 Administrative expenses 26,150 Sales 315,070 Finished goods inventory, January 1 35,600 Finished goods inventory, January 31 32,450 For the month ended January 31, determine Bandera's (a) cost of goods sold, (b) gross profit, and (c) net income. (a) Bandera Manufacturing Company Cost of Goods Sold January 31 Sales $fill in the blank b71124ffbf90fa3_2 Gross profit fill in the blank b71124ffbf90fa3_4 $fill in the blank b71124ffbf90fa3_6 fill in the blank b71124ffbf90fa3_8 $fill in the blank b71124ffbf90fa3_10 (b) Bandera Manufacturing Company Gross Profit January 31 $fill in the blank abf993ffc04afc7_2 fill in the blank abf993ffc04afc7_4 $fill in the blank…