Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i only need blank spots. ducation.com/ext/map/index.html?_con=con&external_browser:OglaunchUn=http%253A%2525 ers 1, 2 and 3) Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied

i only need blank spots. image text in transcribed
image text in transcribed
image text in transcribed
ducation.com/ext/map/index.html?_con=con&external_browser:OglaunchUn=http%253A%2525 ers 1, 2 and 3) Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 651,000 $ 85,000 $ 132,000 $100,000 $ 46,000 5226,000 $ 232,000 Inventories Raw materials Work in process Finished goods Beginning $ 8,500 $5,300 $76.000 Ending 10,400 $ 20,00 $ 25,600 Required: 1. Prepare a schedule of cost of goods manufactured. Assume ali raw materials used in 2. Prepare a schedule of cost of goods sold Assume that the company's underapplied Goods Sold 3. Prepare an income statement Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a schedule of cost of goods manufactured. Assume all raw materials used in produc 5 5.300 Mairead Company Schedule of Cost of Goods Manufactured Beginning work in process inventory Direct materials Beginning raw materials inventory 3.600 Add. Purchases of raw materials 132.000 Total raw materials available 140.600 Less Ending raw materials inventory 10400 Direct materials used in production $130 200 Direct labor 85,000 Manufacturing overhead 226 000 Total manufacturing costs added to production 442 200 Em X education.com/et/map/index.htm?conson external browser=unchUnlehtips253A ters 12 and 3) Sales Director COLL material purchases Selling exp Austrative expenses manufacturing overhead applied to work in process Actual manufacturing overhead cost 5651 586. 5132 $ 101, $ 5 226, 202 teles w materials Work to Fletched good Beginning Ending 55,600 510,400 $5,300 $ 20,700 $70,000 $ 25,600 Required: 1 Prepare a schedule of cost of goods manufactured Assume all raw materials u 2. Prepare a schedule of cost of goods sold. Assume that the companys underar Goods Sold 3. Prepare an income statement Complete this question by entering your answers in the tabs below. Required Required 2 Required Prepare a schedule of cout of goods sold: Assume that the company's underapplied of Goods Sold Malad Company Schedule of Cost of Goods Sold Lleginning finished goods inventory 26.000 Add: Cost of goods manufactured 126,000 Cost of goods available for sale 502.000 Lens Ending finished goods every 26.800 fundusted cost of goods sold 477.200 Add: Underapplied overhead Adved.com of goods told ucation.com/ext/map/index.html?_con con&external browser=0&launch Url=http%253A%25 s 12 and 3) Sales Direct labor cost Rome material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 651,000 $ 86,000 $ 132,000 $ 101,000 $ 46,000 $ 226,000 $ 202,000 Thentories Raw materials Nork in process Finished goods Beginning $3,600 $5,300 $ 75,000 Ending $10,400 $ 20,00 $ 25,600 Required: 1. Prepare a schedule of cost of goods manufactured. Assume allraw materials used 2. Prepare a schedule of cost of goods sold Assume that the company's underapplies Goods Sold 3. Prepare an income statement Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required) Prepare an income statement $ 651.000 Mairead Company Income Statement Sales Cost of goods sold (Gross margin Selling and administrative expenses Selling expenses $ Administrative expense 651.000 101.000 46.000 147,000 504000 Net operating income ucation.com/ext/map/index.html?_con con&external browser=0&launch Url=http%253A%25 s 12 and 3) Sales Direct labor cost Rome material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 651,000 $ 86,000 $ 132,000 $ 101,000 $ 46,000 $ 226,000 $ 202,000 Thentories Raw materials Nork in process Finished goods Beginning $3,600 $5,300 $ 75,000 Ending $10,400 $ 20,00 $ 25,600 Required: 1. Prepare a schedule of cost of goods manufactured. Assume allraw materials used 2. Prepare a schedule of cost of goods sold Assume that the company's underapplies Goods Sold 3. Prepare an income statement Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required) Prepare an income statement $ 651.000 Mairead Company Income Statement Sales Cost of goods sold (Gross margin Selling and administrative expenses Selling expenses $ Administrative expense 651.000 101.000 46.000 147,000 504000 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_2

Step: 3

blur-text-image_3

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

The Law And Economics Of Patent Damages, Antitrust, And Legal Process

Authors: James Langenfeld, Frank Fagan, Samuel Clark

2nd Edition

1800710259, 9781800710252

More Books

Students also viewed these Accounting questions

Question

plan how to achieve impact in practice from your research;

Answered: 1 week ago