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Hello, I tried starting this problem out but if I can please receive help. Thank you. Waterways Problem 01 b1-b3 Waterways Corporation is a private

Hello, I tried starting this problem out but if I can please receive help. Thank you. image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Waterways Problem 01 b1-b3 Waterways Corporation is a private corporation formed for the purpose of providing the products and the services needed to irrigate farms, parks, commercial projects, and private lawns. It has a centrally located factory in a U.S. city that manufactures the products it markets to retail outlets across the nation. It also maintains a division that performs installation and warranty servicing in six metropolitan areas. The mission of Waterways is to manufacture quality parts that can be used for effective irrigation projects that also conserve water. By that effort, the company hopes to satisfy its customers, perform rapid and responsible service, and serve the community and the employees who represent them in each community. The company has been growing rapidly, so management is considering new ideas to help the company continue its growth and maintain the high quality of its products. Waterways was founded by Will Winkman who is the company president and chief executive officer (CEO). Working with him from the company's inception is Will's brother, Ben, whose sprinkler designs and ideas about the installation of proper systems have been a major basis of the company's success. Ben is the vice president who oversees all aspects of design and production in the company. The factory itself managed by Todd Senter who hires his line managers to supervise the factory employees. The factory makes all of the parts for the irrigation systems. The purchasing department is managed by Helen Hines The installation and training division is overseen by vice president Henry Writer, who supervises the managers of the six local installation operations. Each of these local managers hires his or her own local service people. These service employees are trained by the home office under Henry Writer's direction because of the uniqueness of the company's products. There is a small human resources department under the direction of Sally Fenton, a vice president who handles the employee paperwork, though hiring is actually performed by the separate departments. Teresa Totter is the vice president who heads the sales and marketing area; she oversees 10 well-trained salespeople. The accounting and finance division of the company is headed by Ann Headman, who is the chief financial officer (CFO) and a company vice president; she is a member of the Institute of Management Accountants and holds a certificate in management accounting. She has a small staff of accountants, including a controller and a treasurer, and a staff of accounting input operators who maintain the financial records. A partial list of Waterways' accounts and their balances for the month of November follows. A partial list of Waterways' accounts and their balances for the month of November follows. Accounts Receivable Advertising Expenses Cash Depreciation - Factory Equipment Depreciation - Office Equipment Direct Labor Factory Supplies Used Factory Utilities Finished Goods Inventory, November 30 Finished Goods Inventory, October 31 Indirect Labor Office Supplies Expense Other Administrative Expenses Prepaid Expenses Raw Materials Inventory, November 30 Raw Materials Inventory, October 31 Raw Materials Purchases Rent-Factory Equipment Repairs-Factory Equipment Salaries Sales Revenue Sales Commissions Work In Process Inventory October 31 Work In Process Inventory, November 30 $275,500 54,400 258,900 16,700 2,400 41,600 17,000 10,200 69,300 72,100 48,100 1,700 72,500 41,400 52,400 38,200 185,300 47,200 4,600 324,900 1,345,900 40,500 52,200 41,800 A list of accounts and their values are given above. From this information, prepare a cost of goods manufactured schedule. WATERWAYS CORPORATION Cost of Goods Manufactured Schedule For the Month of November, 2016 Work in Process Inventory, November 1 38200 Direct Materials Raw Materials Inventory, November 1 38200 Raw Material Purchases 185300 Total Raw Materials Available for Use 223500 Less Raw Materials Inventory, November 30 52400 Direct Materials Used 171100 $ Direct Labor 41600 Manufacturing Overhead Indirect Labor 16700 Repairs - Factory Equipment 17000 Factory Utilities 10200 Depreciation-Factory Equipment 48100 Factory Supplies Used 47200 Rent-Factory Equipment 4600 Total Factory Overhead 143800 Total Manufacturing Costs 356500 Total Cost of Work in Process 52200 Less Work in Process Inventory, November 304 41800 Cost of Goods Manufactured . $ 366900 WATERWAYS CORPORATION Income Statement For the Month of November, 2016 Sales Revenue 1345900 Cost of Goods Sold Finished Goods Inventory, November 1 369700 Cost of Goods Manufactured 366900 Cost of Goods Available for Sale Less Finished Goods Inventory, November 304 69300 Cost of Goods Sold Gross Profit 976200 Operating Expenses Selling Expenses Sales Commissions Advertising Expenses Total Selling Expenses Administrative Expenses Salaries Administrative Expenses Salaries Depreciation - Office Equipment Office Supplies Expense Other Administrative Expenses Total Administrative Expenses Total Operating Expenses Net Income /(Loss) 479800 A list of accounts and their values are given above. From this information, prepare a partial balance sheet for Waterways Corporation for the month of Nov WATERWAYS CORPORATION Balance Sheet (partial) Assets $ $

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