Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I. ABC company had the following expenses in June. 5 6 Factory Utilities Expense 7 FactoryManager's salary 8 Factory Security people salaries 9 Indirect Materials
I. ABC company had the following expenses in June. 5 6 Factory Utilities Expense 7 FactoryManager's salary 8 Factory Security people salaries 9 Indirect Materials 10 Direct Materials used 11 Depreciation on Factory Equipment 12 Depreciation on Sales ofice copy machines 13 Commissions for Sales people 14 15 16 17 18 19 20 21 22 23 24 25 From the information above determine the total amount of 1 Total Manufacturing Overhead 2 Total Manufacturing/Product Costs 3 Total Non-Manufacturing/Period Costs II. Ending June 30 records for June 30 for ABC Company $14,000 Direct labor 25,000 Advertising Expense 50,000 Property taxes on Factory Equipment 15,000 Property taxes on Sales office 220,000 Factory building repairs 22,000 Sales people's salaries 10,000 Office supplies for Admin office Expense 23,000 Factory Insurance Cost Revenue 2,200,000 Raw Materials Purchased in Month 170,000 26 Direct Labor Cost 40,000 27 Advertising Expense 25,000 28 Rent on Factory 40,000 20 Sales Commissions 40,000 30 Maintenance Expense on factory Equip. 15,000 31 Supplies for the Factory 10,000 32 Depreciation on Factory Equipment 25,000 33 Indirect labor Cost 35,000 34 Utilities Expense for Factory 15,000 35 Depreciation on Sales Office Cars 30,000 36 37 Raw Mat Work in Process Finished Goods 38 Beginning Inventory 39 Ending Inventory 15,000 20,000 25,000 10,000 30,000 10,000 40 41 Prepare the Cost of Goods Manufactured and Cost of goods sold for the month below LABC company had the following expenses in June. Factory Utilities Expense FactoryManager's salary Factory Security people salaries Indirect Materials Direct Materials used Depreciation on Factory Equipment 9 Depreciation on Sales ofice copy machines 14 " 41 4 [42) 45 M M 2 22 11 $14.000 Direct labor $175,000 25.000 Advertising Experse 35,000 50,000 Property taxes on Factory Equipment 10.000 15.000 Property taxes on Sales office 5.000 220.000 Factory building repairs 4.200 22.000 Sales people's salaries 10.000 Office supplies for Admin office Expense 100,000 3.000 23.000 Factory Insurance Cost 8,000 Commissions for Sales people From the information above determine the total amount of 1 Total Manufacturing Overhead 2 Total Manufacturing Product Costs 3 Total Non-Manufacturing Period Cost II. Ending June 30 records for June 30 for ABC Company Revenue Raw Materials Purchased in Month Direct Labor Cost Advertising Expense 2.200.000 170.000 40.000 25.000 Renton Factory 40.000 Sales Commissions 40,000 Maintenance Experse on factory Equip 15,000 Supplies for the Factory 10.000 Depreciation on Factory Equipment 25.000 Indirect labor Cost 35,000 Uses Expense for Factory 15.000 Depreciation on Sales Office Cars 30.000 Beginning Inventory Ending Inventory Raw Mall 15,000 20,000 Work in Process Fished Goods 25.000 10.000 30.000 10.000 Prepare the Cost of Goods Manufactured and Cost of goods sold for the month below Create an Income Statement for the month (Simple format, include period costs) M THATSALL
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started