Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help, I will leave rating! Question 1: Question 2: Glenville Company has the following information for April: Cost of direct materials used $280,000 in

Please help, I will leave rating!

Question 1:

image text in transcribed

Question 2:

image text in transcribed

Glenville Company has the following information for April: Cost of direct materials used $280,000 in production Direct labor 324,000 Factory overhead 188,900 Work in process inventory, 72,300 April 1 Work in process inventory, 76,800 April 30 Finished goods inventory, April 39,600 Finished goods inventory, April 30 41,200 a. For April, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured. Glenville Company Statement of Cost of Goods Manufactured $ 72,300 Work in process inventory, April 1 Cost of direct materials used in production Direct labor Factory overhead $ 280,000 324,000 188,900 Total manufacturing costs incurred during April Total manufacturing costs Less work in process inventory, April 30 792,900 865,200 $ Cost of goods manufactured Feedback b. For April, determine the cost of goods sold. Using the data given, prepare a statement of Cost of Goods Sold. Glenville Company Statement of Cost of Goods Sold Cost of goods sold Cost of direct materials used $35,000 in production Direct labor 44,000 Factory overhead 28,000 Work in process inventory, 21,000 March 1 30,720 Work in process inventory, March 31 Finished goods inventory, March 1 Finished goods inventory, March 31 29,000 21,000 a. For March, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured. Timbuk 3 Company Statement of Cost of Goods Manufactured $ 21,00 Work in process inventory, March 1 Cost of direct materials used in production Direct labor Factory overhead $35,000 44,000 28,000 107,01 Total manufacturing costs incurred during March Total manufacturing costs Less work in process inventory, March 31 $ 128,00 Cost of goods manufactured Feedback b. For March, determine the cost of goods sold. Using the data given, prepare a statement of Cost of Goods Sold. Timbuk 3 Company Statement of Cost of Goods Sold $ 29,000 Finished goods inventory, March 1 Cost of goods manufactured Cost of finished goods available for sale Less finished goods inventory, March 31 ~ Cost of goods sold

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

Acct 1100 Financial Accounting 1 25 Edition

Authors: Carl S. Warren ,James M. Reeve ,Jonathan E. Duchac

1st Edition

1285558839, 978-1285558837

More Books

Students also viewed these Accounting questions

Question

1. Describe the factors that lead to productive conflict

Answered: 1 week ago