Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

just need help wirh cost of goods manufactured, cost of goods sold, and gross margin please 3 FLAXMAN MANUFACTURING COMPANY Schedule of Cost of Goods

just need help wirh cost of goods manufactured, cost of goods sold, and gross margin please
image text in transcribed
image text in transcribed
image text in transcribed
3 FLAXMAN MANUFACTURING COMPANY Schedule of Cost of Goods Manufactured and Sold For April 02:58:12 \begin{tabular}{|c|c|} \hline \multicolumn{2}{|c|}{ FLAXMAN MANUFACTURING COMPANY } \\ \hline \multicolumn{2}{|c|}{\begin{tabular}{l} Schedule of Cost of Goods Manufactured and \\ Sold \end{tabular}} \\ \hline For April & \\ \hline Beginning raw materials inventory & $124,500 \\ \hline Purchases & 119,000 \\ \hline Raw materials available for use & 243,500 \\ \hline Ending raw materials inventory & 86,300 \\ \hline Direct raw materials used & 157,200 \\ \hline Manufacturing overhead & 63,000 \\ \hline Total manufacturing costs & 220,200 \\ \hline Beginnirfy work in process inventory & 119,300 \\ \hline Total work in process inventory & 339,500 \\ \hline Ending work in process inventory & 146,200 \\ \hline Cost of goods manufactured & 193,300 \\ \hline Beginning finished goods inventory & 76,900 \\ \hline Cost of goods available for sale & 270,200 \\ \hline Ending finished goods inventory & 81,400 \\ \hline Cost of goods sold & $282,100 \\ \hline \end{tabular} Required A The following information pertains to Flaxman Manufacturing Company for Aprit, Assume actual overhead equaled applied overheac Required a. Prepare a schedule of cost of goods manufactured and sold. b. Calculate the amount of gross margin on the income statement. Complete this question by entering your answers in the tabs below. Calculate the amount of gross margin on the income statement

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

Students also viewed these Accounting questions

Question

How to analyze a news article from a scientific perspective

Answered: 1 week ago