Rainier Company Yakima Company 548,200 50,000 710,000 708,200 (b)1,330,000 446,000 2,484,200 2,660,600 176,400 S100,000 Materials inventory, May 1 Materials inventory, May 31 Materials purchased Cost of direct materials used in production Direct labor Factory overhead Total manufacturing costs incurred during May Total manufacturing costs Work in process inventory, May 1 Work in processinventory, May 31 Cost of goods manufactured Finished goods inventory, May 1 (a) 111,500 950,000 938,500 2,860,000 1,800,000 (b) 5,598.50o 5,598,500 400,000 (a) 382,000(c) 2,491,500 190,000 211,500 4,550,000 2,470,000 (e) 2.080,000 500 615,000 Finished goods inventory, May 31 96,500 (d) Sales Cost of goods sold Gross profit Operating expenses Net income 9,220,000 (d) 5,635,000 85,000 1,000,000 1.500,000 YAKIMA COMPANY Statement of Cost of Goods Manufactured For the Month Ended May 31 Work in process inventory, May 1 Direct materials: terials inventory, May 1 Purchases 710,000 S 758,200 Cost of materials available for use Cost of direct materials used in production 1,330,000 Direct labor Factory overhead Total manufacturing costs incurred during May Total manufacturing costs Less: Workin Cost of goods manufactured 446 S 2,660,600 YAKIMA COMPANY Income Statement For the Month Ended May 31 Sales Cost of goods sold 4,550,000 Finished goods inventory, May 1 ost of goods manufactured Cost of finished goods available for sale Finished goods inventory. May 31 Cost of goods sold S 190,000 2.491.500 S 2,681,500 211,500 Gross profit Operating expenses Net income 2,470,000 S 2,080,000 580,000 s 1.500,000 PR 18-4A Manufacturing income statement, statement of cost of goods manufactured OBJ. 2, 4 ems are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of May Rainier Yakima Company $ 100,000 Company S 48,200 50,000 10,000 Materials inventory, May 1 Materials inventory, May 31 Materials purchased Cost of direct materials used in production Direct labor Factory overhead Total manufacturing costs incurred during May Total manufacturing costs Work in process inventory, May 1 Work in process inventory, May 3 Cost of goods manufactured Finished goods inventory,May Finished goods inventory, May 31 Sales Cost of goods sold Gross proft Operating expenses Net income 950,000 938,500 1,800,000 446,000 5,998,500 400,000 382,000 2,660,600 176,400 2,491,500 190,000 615,000 596,500 9,220,000 4,550,000 2,470,000 1,000,000 1,500,000 Instructions Rainier Company Yakima Company 548,200 50,000 710,000 708,200 (b)1,330,000 446,000 2,484,200 2,660,600 176,400 S100,000 Materials inventory, May 1 Materials inventory, May 31 Materials purchased Cost of direct materials used in production Direct labor Factory overhead Total manufacturing costs incurred during May Total manufacturing costs Work in process inventory, May 1 Work in processinventory, May 31 Cost of goods manufactured Finished goods inventory, May 1 (a) 111,500 950,000 938,500 2,860,000 1,800,000 (b) 5,598.50o 5,598,500 400,000 (a) 382,000(c) 2,491,500 190,000 211,500 4,550,000 2,470,000 (e) 2.080,000 500 615,000 Finished goods inventory, May 31 96,500 (d) Sales Cost of goods sold Gross profit Operating expenses Net income 9,220,000 (d) 5,635,000 85,000 1,000,000 1.500,000 YAKIMA COMPANY Statement of Cost of Goods Manufactured For the Month Ended May 31 Work in process inventory, May 1 Direct materials: terials inventory, May 1 Purchases 710,000 S 758,200 Cost of materials available for use Cost of direct materials used in production 1,330,000 Direct labor Factory overhead Total manufacturing costs incurred during May Total manufacturing costs Less: Workin Cost of goods manufactured 446 S 2,660,600 YAKIMA COMPANY Income Statement For the Month Ended May 31 Sales Cost of goods sold 4,550,000 Finished goods inventory, May 1 ost of goods manufactured Cost of finished goods available for sale Finished goods inventory. May 31 Cost of goods sold S 190,000 2.491.500 S 2,681,500 211,500 Gross profit Operating expenses Net income 2,470,000 S 2,080,000 580,000 s 1.500,000 PR 18-4A Manufacturing income statement, statement of cost of goods manufactured OBJ. 2, 4 ems are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of May Rainier Yakima Company $ 100,000 Company S 48,200 50,000 10,000 Materials inventory, May 1 Materials inventory, May 31 Materials purchased Cost of direct materials used in production Direct labor Factory overhead Total manufacturing costs incurred during May Total manufacturing costs Work in process inventory, May 1 Work in process inventory, May 3 Cost of goods manufactured Finished goods inventory,May Finished goods inventory, May 31 Sales Cost of goods sold Gross proft Operating expenses Net income 950,000 938,500 1,800,000 446,000 5,998,500 400,000 382,000 2,660,600 176,400 2,491,500 190,000 615,000 596,500 9,220,000 4,550,000 2,470,000 1,000,000 1,500,000 Instructions