EBK ACCOUNTING PRINCIPLES
13th Edition
ISBN: 9781119411017
Author: Weygandt
Publisher: WILEY
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Question
Chapter 19, Problem 9E
To determine
Introduction: Cost of goods manufactured refers to the overall
The cost of goods manufactured schedule for the H. Company.
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Required information
[The following information applies to the questions displayed below.]
The following year-end information is taken from the December 31 adjusted trial balance and other records of Leone
Company.
Advertising expense
Depreciation expense-Office equipment
Depreciation expense-Selling equipment
Depreciation expense-Factory equipment
Raw materials purchases (all direct materials)
Maintenance expense-Factory equipment
Factory utilities
Direct labor
Indirect labor
office salaries expense
Rent expense-Office space
Rent expense-Selling space
Rent expense-Factory building
Sales salaries expense
$ 66,000
45,000
46,000
88,000
980,000
47,400
40,600
552,000
83,000
50,000
30,000
72,000
173,000
415,000
Required:
Identify each cost as either a product cost or a period cost. If a product cost, classify it as direct materials, direct labor, or factory
overhead. If a period cost, classify it as a selling expense or a general and administrative expense.
Note: Leave no cell blank.…
Bledsoe Corporation has provided the following data for the month of November:
Ending
Beginning
$ 25,200
$ 17,200
$ 48,200
Inventories:
Raw materials
Work in process
Finished Goods
Additional information:
Raw materials purchases
Direct labor cost
$ 72,200
$ 92,200
Manufacturing overhead cost incurred
$ 42,220
Indirect materials included in manufacturing overhead cost
incurred
$ 4,020
Manufacturing overhead cost applied to Work in Process
$ 41,200
Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold.
Required:
Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold.
Complete this question by entering your answers in the table below.
Schedule of Schedule of
COGM
COGS
$ 21,200
$ 10,200
$ 56,200
Prepare a Schedule of Cost of Goods Manufactured.
Direct materials
BLEDSOE CORPORATION
Schedule of Cost of Goods Manufactured
The topic is about Cost Accounting:
REQUIRED: Prepare Statement of Cost of Goods Manufactured
Chapter 19 Solutions
EBK ACCOUNTING PRINCIPLES
Ch. 19 - Prob. 1QCh. 19 - Prob. 2QCh. 19 - Prob. 3QCh. 19 - Prob. 4QCh. 19 - Prob. 5QCh. 19 - Prob. 6QCh. 19 - Prob. 7QCh. 19 - Prob. 8QCh. 19 - Prob. 9QCh. 19 - Prob. 10Q
Ch. 19 - 12. Identify the differences in the cost of goods...Ch. 19 - Prob. 12QCh. 19 - Prob. 13QCh. 19 - Prob. 14QCh. 19 - Prob. 15QCh. 19 - Prob. 16QCh. 19 - Prob. 17QCh. 19 - 19. Discuss whether the product costing techniques...Ch. 19 - Prob. 19QCh. 19 - Prob. 20QCh. 19 - Prob. 21QCh. 19 - Prob. 22QCh. 19 - Prob. 23QCh. 19 - Prob. 24QCh. 19 - Prob. 25QCh. 19 - Prob. 1BECh. 19 - Prob. 2BECh. 19 - Prob. 3BECh. 19 - Prob. 4BECh. 19 - Prob. 5BECh. 19 - Prob. 6BECh. 19 - Prob. 7BECh. 19 - Prob. 8BECh. 19 - Prob. 9BECh. 19 - Prob. 10BECh. 19 - Prob. 11BECh. 19 - Prob. 1DIECh. 19 - Prob. 2DIECh. 19 - Prob. 3DIECh. 19 - DO IT! 19-4 Match the descriptions that follow...Ch. 19 - Prob. 1ECh. 19 - E19-2 Presented below is a list of costs and...Ch. 19 - E19-3 Trak Corporation incurred the following...Ch. 19 - Prob. 4ECh. 19 - Prob. 5ECh. 19 - Prob. 6ECh. 19 - Prob. 7ECh. 19 - Prob. 8ECh. 19 - Prob. 9ECh. 19 - Prob. 10ECh. 19 - Prob. 12ECh. 19 - Prob. 13ECh. 19 - Prob. 14ECh. 19 - Prob. 15ECh. 19 - Prob. 16ECh. 19 - Prob. 17ECh. 19 - Prob. 18ECh. 19 - P19-1A Ohno Company specializes in manufacturing a...Ch. 19 - Prob. 2PSACh. 19 - Prob. 3PSACh. 19 - Prob. 4PSACh. 19 - Prob. 5PSACh. 19 - Prob. 1EYCTCh. 19 - Prob. 2EYCTCh. 19 - Prob. 3EYCTCh. 19 - Prob. 4EYCTCh. 19 - Prob. 5EYCTCh. 19 - Prob. 7EYCT
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- Required information [The following information applies to the questions displayed below] The following year-end information is taken from the December 31 adjusted trial balance and other records of Leone Company. Advertising expense Depreciation expense-Office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Raw materials purchases (all direct materials) Maintenance expense-Factory equipment Factory utilities Direct labor Indirect labor office salaries expense Rer expense-Office space Rent expense-Selling space Rent expense-Factory building Sales salaries expense $ 61,000 40,000 41,000 83,000 930,000 45,900 39,600 532,000 80,000 48,000 29,000 70,000 168,000 403,000arrow_forwardSupply the missing information on the following schedule of cost of goods manufactured.arrow_forwardExplain the meaning of the following terms in the schedule of cost of goods manufactured: (i) Total manufacturing costs (ii) Manufacturing costs to account for (iii)Cost of goods manufactured #############correct answers from experts please . Answer all three partsarrow_forward
- Computing cost of goods manufactured Consider the following partially completed schedules of cost of goods manufactured. Compute the missing amounts.arrow_forwardBased on the problem on the picture, REQUIRED: Prepare Statement of Cost of Goods Manufacturedarrow_forwardPrepare Cost of goods manufactured and cost of goods sold schedules in a table format only.arrow_forward
- If selling and administrative expenses are allocated to different products, they should be reported as a a. factory overhead cost b. c. period cost Od. cost of goods manufactured cost of goods soldarrow_forwardAll of the following are a part of calculating Cost of Goods Sold EXCEPT: O Work In Process Inventory, Beginning Balance O. Finished Goods Inventory, Ending Balance Cost of Goods Manufactured O Finished Goods Inventory, Beginning Balancearrow_forwardInstructions: (a) Prepare the cost of goods manufactured schedule. (b) Compute the cost of goods sold.arrow_forward
- Consider the following data (photo)Required: Calculate the cost of goods manufacturedarrow_forwardDistinguish between manufacturing & non-manufacturing overhead (product versus period costs)2) Classify costs as prime costs or conversion costs3) Prepare a statement of cost of goods manufactured, clearly showing total manufacturing costs &total manufacturing costs to account for.4) Prepare an income statement for a manufacturing entity, clearly showing Cost of Goods Sold.5) Explain the difference between the income statements of a merchandiser & a manufacturerarrow_forwardCompute cost of goods manufactured. using a formal schedule of cost of good manufactured then compute cost of goods sold That is all of the picture there isn't more to it.arrow_forward
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