Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Fill in all the blanks and shows the math for them please! Then problem 2 is using this data and please show work. Kimmel, Accounting,

Fill in all the blanks and shows the math for them please! image text in transcribed
Then problem 2 is using this data and please show work.
image text in transcribed
image text in transcribed
Kimmel, Accounting, Ge Exercise 14-9 An incomplete cost of goods manufactured schedule is presented below. Complete the cost of goods manufactured schedule for Hobbit Company. HOBBIT COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2017 Work in process (1/1) Direct materials $211,790 Raw materials inventory (1/1) Add: Raw materials purchases Total raw materials available for use Less: Raw materials inventory (12/31) 161,290 24,130 Direct materials used Direct labor Manufacturing overhead $187,540 Indirect labor Factory depreciation Factory utilities Total overhead 21,060 36,940 76,380 134,380 Total manufacturing costs Total cost of work in process Less: Work in process (12/31) Cost of goods manufactured Click if you would like to Show Work for this question: Open Show Work 84,050 $549,950 By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instr ere to search 99+ The following information is available for Aikman Company. January 1, 2017 $25,160 15,070 27,770 2017 December 31, 2017 $35,610 18,280 23,410 Raw materials inventory Work in process inventory Finished goods inventory Materials purchased Direct labor Manufacturing overhead Sales revenue $154,800 223,070 182,060 905,590 Compute cost of goods manufactured. Aikman Company Cost of Goods Manufactured Schedule Prepare an income statement through gross profit. AIKMAN COMPANY Income Statement (Partial) LINK TO TEXT Show the presentation of the ending inventories on the December 31, 2017, balance sheet. AIKMAN COMPANY (Partial) Balance Sheet Click if you would like to Show Work for this question: Open Show Work here to search

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

Step: 3

blur-text-image

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

New Auditors Guide To Internal Auditing

Authors: Bruce R. Turner

1st Edition

1634540549, 978-1634540544

Students also viewed these Accounting questions

Question

What are the challenges associated with tunneling in urban areas?

Answered: 1 week ago

Question

What are the main differences between rigid and flexible pavements?

Answered: 1 week ago

Question

What is the purpose of a retaining wall, and how is it designed?

Answered: 1 week ago

Question

How do you determine the load-bearing capacity of a soil?

Answered: 1 week ago

Question

what is Edward Lemieux effect / Anomeric effect ?

Answered: 1 week ago