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Correct red marked mistakes please!! Problem 14-04A The following data were taken from the records of Clarkson Company for the fiscal year ended June 30,

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Problem 14-04A The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020. Raw Materials Inventory 7/1/19 $48,100 Factory Insurance $4,700 Raw Materials Inventory 6/30/20 39,700 Factory Machinery Depreciation 16,100 Finished Goods Inventory 7/1/19 96,100 Factory Utilities 28,700 Finished Goods Inventory 6/30/20 19,900 Office Utilities Expense 8,550 Work in Process Inventory 7/1/19 19,900 Sales Revenue 555,000 Work in Process Inventory 6/30/20 19,900 Sales Discounts 4,300 Direct Labor 139,350 Plant Manager's Salary 61,100 Indirect Labor 24,560 Factory Property Taxes 9,610 Accounts Receivable 27,100 Factory Repairs 1,500 Raw Materials Purchases 96,500 Cash 32,100 Your answer is partially correct. Try again. Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct materials.) CLARKSON COMPANY Cost of Goods Manufactured Schedule For the Year Ended June 30, 2020 Work In Process Inventory, July 1, 2019 Direct Materials 19.900 Raw Materials Inventory, July 1, 2019 48,100 $ Raw Materials Purchases 96,500 Total Raw Materials Available for Use 144,600 Raw Materials Inventory, June 30, 2020 . Direct Materials Used 39,700 Direct Labor 104,900 Manutacturing Overhead 139,350 Indirect Labor Factory Insurance 24,560 4,700 URL Paris 109,04 Direct Labor 139,350 Manufacturing Overhead Indirect Labor 24,560 Factory Insurance 4,700 Factory Machinery Depreciation 16,100 Factory Utilities 28,700 Plant Manager's Salary 61,100 Factory Property Taxes . 9,610 Factory Repairs 1,500 Total Manufacturing Overhead Total Manufacturing Costs 146,270 Total Cost of Work in Process Inventory 390,520 Work In Process Inventory, June 30, 2020 Cost of Goods Manufactured 19,000 SHOW LIST OF ACCOUNTS 390,520 your answer is partially correct. Try again. Prepare an income statement through gross profit. dy CLARKSON COMPANY (Partial) Income Statement For the Year Ended June 30, 2020 Sales Revenue 555,000 Less 4 Sales Discounts 4,300 Net Sales Cost of Goods Sold 550,700 Finished Goods Inventory, July 1, 2019 . Cost of Goods Manufactured 96,100 Cost of Goods Available for Sale 390,520 Less 486,620 Finished Goods Inventory, June 30, 2020 Office Utilities Expense 19,900 + Gross Profit 8,550 SHOW LIST OF ACCOUNTS 83,980 Your answer is partially correct. Try again. -epare the current assets section of the balance sheet at June 30, 2020. (List Current Assets in order of liqu. CLARKSON COMPANY (Partial) Balance Sheet June 30, 2020 Current Assets Cash 32,100 Accounts Recelvable 27,100 Inventories Finished Goods Inventory 19,900 Raw Materials Inventory 19,900 Work in Process Inventory 19,900 59,700 Total Current Assets Click If you would like to Show Work for this question: Open Show Work 118,900 SHOW LIST OF ACCOUNTS

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