Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Manufacturing costs for Nicole Company for selected quarter are as follows: Sep Aug 190,000 170,000 Oct 280,000 155,000 135,000 90,000 510,000 30,000 250,000 725,000 40,000

image text in transcribedimage text in transcribed

Manufacturing costs for Nicole Company for selected quarter are as follows: Sep Aug 190,000 170,000 Oct 280,000 155,000 135,000 90,000 510,000 30,000 250,000 725,000 40,000 445,000 Direct Materials Used Direct Labor Factory Overhead Total Manufacturing Cost Work in Process, Beginning Total cost put into process Work in Process, end Cost of goods manufactured Finished goods, beginning Goods available for sale Finished goods, end Cost of goods sold 65,000 700,000 405,000 75,000 513,000 740,000 60,000 40,000 438,000 Compute for the missing amounts. (15 points) The following is available for the Alonzo Company: January 1, 2020 Materials purchased Raw materials inventory P 40,000 Work in process inventory 15,000 Finished goods inventory 31,000 Direct labor Manufacturing overhead Sales Selling and administrative expenses Required compute for (1) cost of goods sold. (3 points) Present a statement of comprehensive income (10 points) December 31, 2020 P 180,000 25,000 23,500 37,000 220,000 200,000 980,000 147,000

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

Operational Review Maximum Results At Efficient Costs

Authors: Rob Reider

3rd Edition

0471228109, 978-0471228103

More Books

Students also viewed these Accounting questions

Question

How is a conversion worksheet used? Why is it necessary?

Answered: 1 week ago

Question

Assess three steps in the selection process.

Answered: 1 week ago

Question

Identify the steps in job analysis.

Answered: 1 week ago