Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need some help to make Excel 4 Student 2-31 PM Mon Feb 22 71% Este Spring Draw Layout Home Insert Review View Cambora Bold

I need some help to make Excel image text in transcribed
image text in transcribed
image text in transcribed
4 Student 2-31 PM Mon Feb 22 71% Este Spring Draw Layout Home Insert Review View Cambora Bold (BC B Tread Only - You can save changes to this file Save a copy Excel Assignment #2 Spring Northern Illinois Manufacturing provides products and the services needed to irrigate farms, parks, commercial products, and private homes. It has a centrally located factory that manufactures the products it markets to retail outlets across the nation. The month of November has just ended and Northern Illinois needs to generate a cost of goods manufactured and cost of goods sold for its income statement. The application of overhead is based on direct labor hours. At the beginning of the year, the company estimated direct labor hours of 40,000 and total estimated overhead of $2,000,000. During the month of November, the number of direct labor hours was 3,375. The following additional data for November is provided: Indirect Materials in Manufacturing $ 17,250 Overhead Advertising Expense 54,000 Depreciation - Factory Equipment 16,800 Depreciation - Office Equipment 2,500 Direct Labor 83,000 Factory Supplies 11,800 Factory Utilities 12,200 Finished Goods Inventory - November 30 62,800 Finished Goodstventory Actober 21 71,700 Student 2:31 PM Mon Feb 22 79 Excoring Draw Layout Home Insert Review View Cambria Bold (BO Read Only You carrive changes to this is Save a copy $ 17,250 Indirect Materials in Manufacturing Overhead Advertising Expense Depreciation - Factory Equipment Depreciation - Office Equipment Direct Labor Factory Supplies Factory Utilities Finished Goods Inventory - November 30 Finished Goods Inventory - October 31 Indirect Labor Office Supplies Expense Other Administrative Expenses Raw Materials Inventory - November 30 Raw Materials Inventory - October 31 Raw Materials Purchases Rent - Factory Equipment Repairs - Factory Equipment Salaries Sales Sales Commissions Work In Process Inventory - November 30 Work In Process Inventory - October 31 Property Tax on Factory 54,000 16,800 2,500 83,000 11,800 12,200 62,800 71,700 58,000 2,400 62,000 53,700 28,000 185,400 57,000 5,200 323,000 1,350,000 40,500 80,900 75,100 5,500 - Student 2:32 PM Mon Feb 22 79 Ering Draw Layout Home Insert Review View Save a copy Cambria Bold (80 Read Only You carrete changes to this file Orice suppressxpense Other Administrative Expenses Raw Materials Inventory - November 30 Raw Materials Inventory - October 31 Raw Materials Purchases Rent - Factory Equipment Repairs - Factory Equipment Salaries Sales Sales Commissions Work In Process Inventory - November 30 Work In Process Inventory - October 31 Property Tax on Factory 2500 62,000 53,700 28,000 185,400 57,000 5,200 323,000 1,350,000 40,500 80,900 75,100 5,500 Instructions: From the above information, prepare a cost of goods manufactured schedule, cost of goods sold schedule, and an income statement to the net operating income

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

Interpreting Company Reports And Accounts

Authors: Geoffrey Holmes, Alan Sugden, Paul Gee

10th Edition

0273711415, 9780273711414

More Books

Students also viewed these Accounting questions