Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2-2A-Schedule of Cost of Goods Manufactured Kelowna Plumbing Supplies shows the following data related to its December 31, 2016 fiscal year: Raw materials inventory, January

image text in transcribed
2-2A-Schedule of Cost of Goods Manufactured Kelowna Plumbing Supplies shows the following data related to its December 31, 2016 fiscal year: Raw materials inventory, January 1, 2016 $5,000 Current asset Raw materials inventory, December 31, 2016 8.000 Current asset Work in process inventory, January 1, 2016 23,000 Work in process inventory, December 31, 2016 21,000 Finished goods inventory, January 1, 2016 16,000 Finished goods inventory, December 31, 2016 10,000 Advertising 56,000 Selling & admin expense Factory supervisor's salary 42,000 Operating expense - OH Company president's salary 85,000 Property taxes - factory 25,000 Depreciation - factory 35,000 Factory maintenance 7,000 Sales commissions 32,000 Depreciation - office 2,000 Utilities expense - factory 23,000 Utilities expense-office 11,000 Purchases of raw materials 148,000 Direct labour 160,000 Operating expense Scules 1,000,000 Required: Based on the information above, prepare a schedule of cost of goods manufactured

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Linda Smith Bamber, Karen Wilken Braun, Jr. Harrison, Walter T.

1st Edition

0138129711, 978-0138129712

More Books

Students also viewed these Accounting questions