Question Money Company has a procese departments Consober accounted for the Assembly Department for November 2002 are as follows Work in proces Now Materih $19,500 Conversion costs 24.015 $63.57 Durch added in Newber 79.500 October incurred during November 112,900 Marutacturing overhead Now 16 to mancung costs incurred during 51.140,000 November Production records show the follow Unts in Work in proces, Nowmber 1 Units started into production Units in Work in Proces, Noweber 30 Pero complete in Work in Process Conversion costs 17,500 10.000 12.500 40 Instructions: Using a production costs report answer the following questions your answers should use punctuation where appropriatele, commas). What are the physical units accounted for unts What are the equivalent units for materia units (hp The income statement for the year ended December 31, 2020 and the comparative balance sheet for My Life Company My Life Company Income Statement M For the Month Ended September 30, 2020 Compai Sales revenue $1,553,840 Less: Cost of goods sold $541,840 Assets Operating expenses (excluding 49,640 Cash depreciation) 186,000 Depreciation expense Accounts receivable Inventory Income tax expense 109,120 Prepaid expenses Interest expense 18,920 Loss on disposal of plant assets 30,000 935,520 Long-term investments Plant assets Net income $618,320 Accumulated depreciation Total Liabilities and Stockholders Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total Additional information 1. New plant assets costing $400,000 were purchased for cash during the year 2. old plants aving an original cost of $230,000 and accumulated depreciation of S194,000 were sold for $6,000 2.Bonds pabamatured and were paid off at face value for cash np CD My Life Company Comparative Balance Sheets December 31 2020 ,553,840 2019 Assets Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total $323,200 451,200 450,000 113,600 552,000 1,140,000 (200.000) $2.830.000 $193,600 152,000 411,400 104,000 436,000 970,000 1208.000] $2.059.000 935,520 $618,320 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings $408.000 65.000 440,000 980.000 936.000 $2.830.000 $269,200 34.000 584.000 700.000 421.800 $2.059.000 th during the year cumulated depreciation of $194000 were sold for $6,000 cash for cash op 8 0 5 P METTONS D Z CV B Question Money Company has a procese departments Consober accounted for the Assembly Department for November 2002 are as follows Work in proces Now Materih $19,500 Conversion costs 24.015 $63.57 Durch added in Newber 79.500 October incurred during November 112,900 Marutacturing overhead Now 16 to mancung costs incurred during 51.140,000 November Production records show the follow Unts in Work in proces, Nowmber 1 Units started into production Units in Work in Proces, Noweber 30 Pero complete in Work in Process Conversion costs 17,500 10.000 12.500 40 Instructions: Using a production costs report answer the following questions your answers should use punctuation where appropriatele, commas). What are the physical units accounted for unts What are the equivalent units for materia units (hp The income statement for the year ended December 31, 2020 and the comparative balance sheet for My Life Company My Life Company Income Statement M For the Month Ended September 30, 2020 Compai Sales revenue $1,553,840 Less: Cost of goods sold $541,840 Assets Operating expenses (excluding 49,640 Cash depreciation) 186,000 Depreciation expense Accounts receivable Inventory Income tax expense 109,120 Prepaid expenses Interest expense 18,920 Loss on disposal of plant assets 30,000 935,520 Long-term investments Plant assets Net income $618,320 Accumulated depreciation Total Liabilities and Stockholders Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total Additional information 1. New plant assets costing $400,000 were purchased for cash during the year 2. old plants aving an original cost of $230,000 and accumulated depreciation of S194,000 were sold for $6,000 2.Bonds pabamatured and were paid off at face value for cash np CD My Life Company Comparative Balance Sheets December 31 2020 ,553,840 2019 Assets Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total $323,200 451,200 450,000 113,600 552,000 1,140,000 (200.000) $2.830.000 $193,600 152,000 411,400 104,000 436,000 970,000 1208.000] $2.059.000 935,520 $618,320 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings $408.000 65.000 440,000 980.000 936.000 $2.830.000 $269,200 34.000 584.000 700.000 421.800 $2.059.000 th during the year cumulated depreciation of $194000 were sold for $6,000 cash for cash op 8 0 5 P METTONS D Z CV B
