Enter titles and accounts in the green cells Enter Numbers in the blue cells Enter your Calculations in the yellow cells Unit 1 Read Chapter 17 Intro To Managerial Acctg https://www.principlesofaccounting.com/managerial-cost-accounting/ Allocate the Costs of each item to the correct category. Total Each column Amount Salary of chief compliance officer of company Power used by painting equipment Instrument panel installed in the airplane cockpit Annual bonus paid to the chief operating officer of the company Turbo-charged airplane engine Interior trim material used throughout the airplane cabin Cost of normal scrap from production of airplane body Total Hourly wages of employees that assemble the airplane Salary of the marketing department personnel Cost of paving the headquarters employee parking lot Cost of electrical wiring throughout the airplane Cost of electronic guidance system installed in the airplane cockpit Salary of plant manager Cost of miniature replicas of the airplane used to promote and market the airplane 65,000 5,000 137,000 100,000 250,000 70,000 15,000 325,000 125,000 7,000 80,000 350,000 90,000 10,000 Direct materials Direct labor Overhead Selling Admin Human resources department costs for the year Metal used for producing the airplane body Annual fee to a celebrity to promote the aircraft Hydraulic pumps used in the airplane's flight control system Yearly cost of the maintenance contract for robotic equipment Prebuilt leather seats installed in the first-class cabin Depreciation on factory equipment Special advertising campaign in Aviation World magazine Oil to lubricate factory equipment Masks for use by painters in painting the airplane body Decals for cockpit door, the cost of which is immaterial to the cost of the final product Salary of chief financial officer Totals 135,000 137,000 50,000 95,000 27,000 28,000 57,000 5,000 2,500 1,000 1,000 65,000 Enter titles and accounts in the green cells Enter Numbers in the blue cells Enter your Calculations in the yellow cells Unit 1 Read Chapter 17 Intro To Managerial Acctg https://www.principlesofaccounting.com/managerial-cost-accounting/ Use the following cost information to complete the schedules below for Jackson Company: Advertising Expense 21,275 Rent expense office 24,725 Depreciation office 8,575 Rent expense selling 27,350 Depreciation selling 10,775 Rent expense factory 94,975 Depreciation factory 37,350 maintenance factory 27,375 Factory Supervision 137,250 Sales 5,928,721 Factory supplies - used 7,050 Sales salaries 237,950 Factory utilities 35,700 Raw mat beginning 41,375 Direct labor 562,475 Raw Mat ending 72,430 Indirect labor 57,000 WIP Beginning 13,550 Misc production costs 9,660 WIP Ending 13,350 Office salaries 67,350 Fin Goods Beginning 175,250 Raw Mat purchases 837,925 Fin Good Ending 152,750 Calculate the total overhead costs: Total 0 Complete the Cost of Goods Manufatured Schedule Direct materials 1 Beginning Raw materials inv 2 Raw materials purchases + 3 Total raw materials available = 4 Less: End Raw materials inv 5 Direct materials used + 6 Direct labor + 8 Total manufacturing overhead 9 Total manufacturing costs 10 Beginning Work in process, 1/1 11 Total cost of work in process 12 Less: Work in process, 12/31 13 Cost of goods manufactured 14 Beginning Finished Goods Inventory 15 Cost of Goods Manufactured 16 Total Goods Available for Sale 17 Less ending Finished goods 18 Cost of Goods Sold + + - + - Compete the partial income statement INCOME STATEMENT Sales Cost Goods Sold Gross Profit Selling and Admin Expenses Operating Income (EBIT) Compete the partial balance sheet Balance Sheet CURRENT ASSETS INVENTORY RAW MATERIALS INVENTORY WORK IN PROCESS INVENTORY FINISHED GOODS INVEINTORY TOTAL INVENTORY Enter titles and accounts in the green cells Enter Numbers in the blue cells Enter your Calculations in the yellow cells Unit 1 Read Chapter 17 Intro To Managerial Acctg https://www.principlesofaccounting.com/managerial-cost-accounting/ Complete the Cost of Goods Manufactured Schedule (fill in the blanks using the other numbers in the schedule) Direct materials 1 Beginning Raw materials inv 2 Raw materials purchases + 165,000 - 13,500 189,500 3 Total raw materials available 4 Less: End Raw materials inv 5 Direct materials used 6 Direct labor 7 Total manufacturing overhead 8 Total manufacturing costs 9 Beginning Work in process, 1/1 + + + = + 137,500 211,500 10 Total cost of work in process 11 Less: Work in process, 12/31 12 Cost of goods manufactured - 81,500 509,000