Answered step by step
Verified Expert Solution
Question
1 Approved Answer
03 Cost of Goods Manufactured & Partial Income Statement Aikman Corporation has the following cost records for June 2012: Inventory Work In Process Finished
03 Cost of Goods Manufactured & Partial Income Statement Aikman Corporation has the following cost records for June 2012: Inventory Work In Process Finished Goods 1-Jun-22 ######## 3,045 S 3,048 5,410 S 8,405 Cost Item Indirect factory labour S 4,075 Raw materials used $ 24.796 Factory utilities S 459 Depreciation, factory equipment S 1,267 Direct labour S 31,379 Maintenance, factory equipment S 1,589 Indirect materials S 1,330 Factory manager's salary $ 3,476 Administrative expenses S 4583 Selling expenses S 10,385 a. Prepare a cost of goods manufactured schedule for June 2022 (show all amounts as positive numbers). Aikman Corporation Cost of Goods Manufactured For the month ended June 30, 2022 Work in Progress inventory, beginning Raw Materials Used Direct labor Manufacturing Overhead Total Manufacturing Costs Total cost of Work in Process inventory Total cost of Work in Process inventory Cost of goods manufactured 3.045 24.796 31.379 b. Prepare an income statement (show all amounts as positive numbers). Aikman Corporation Net sales Cost of goods sold: Income Statement For the month ended June 30, 2022 S Operating Expenses (list alphabetically) 107,077
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Answer a Cost of Goods Manufactured Schedule for June 2022 Aikman Corporation Cost of Goods Man...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started