Question
I have attached my completed Excel Spreadsheets and I just want to make sure these are correctly done. Here is the data below that I
I have attached my completed Excel Spreadsheets and I just want to make sure these are correctly done. Here is the data below that I used for my sheets.
Instructions: Prepare an original excel spreadsheet that will include three tabs: input, COGM, IS. The input should include the following data:
Inventories | Beginning | Ending |
Raw Materials | $ 13,200 | $ 8,000 |
Work-in-Process | 3,000 | 4,000 |
Finished Goods | 7,000 | 5,800 |
Other Information: |
|
|
Raw materials purchases | $ 43,000 | |
Plant janitorial services | 200 | |
Sales salaries | 5,300 | |
Delivery costs (outbound freight) | 1,500 | |
Sales revenue | 120,000 | |
Utilities for plant | 1,600 | |
Rent on plant | 11,000 | |
Customer service hotline costs | 1,100 | |
Direct labor |
| 23,000 |
body) ZY 7 Idea Paste MA $ % ) Merge & Center . Insert Delete Format Conditional Format Cell Formatting as Table Styles Sort & Filter Find & Select G19 X fx 83000 A B D E F G H J K L M N 0 1 COGM $ $ $ $ 3,000 $ $ $ $ 13,200 43,000 56,200 (8,000) $ $ 64,200 23,000 2 3 Beginning WIP 4 DM Used: 5 Beginning RM Inventory 6 Purchases of RM 7 RM Avail. For Use 8 Ending RM 9 DM Used 10 DL 11 Mfg OH: 12 Rent On Plant 13 Utilities of Plant 14 Plant Janitorial Services 15 Total Mfg OH: 16 Total Mfg Costs 17 Total Mfg Cost to Acct For 18 Ending WIP Inventory 19 | COGM 20 21 22 23 24 25 26 27 $ $ $ 11,000 1,600 200 $ 12,800 $ $ 4,000 83,000 B14 fx A B D E F G 1 Income Statement $ $ $ $ 120,000 $ $ $ $ 7,000 83,000 90,000 (5,800) 2 3 Sales Revenue 4 COGS: 5 Beginning Finished Goods Inventory 6 COGM 7 Cost of Goods Avail. For Sale 8 Ending Finished Goods Inventory 9 COGS 10 Gross Profit 11 S&A Expenses: 12 Delivery Cost 13 Customer Service Cost 14 Sales Salaries 15 Total S&A Expenses 16 Operating Income $ $ 95,800 24,200 $ $ 1,500 1,100 5,300 $ $ $ 7,900 16,300 17 18 19
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