Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Raw materials purchased Direct materials used Direct labor used Factory supervisor salary Salesperson commissions Depreciation expense-Factory building Depreciation expense-Delivery equipment Indirect materials $ 42,400 63,500

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Raw materials purchased Direct materials used Direct labor used Factory supervisor salary Salesperson commissions Depreciation expense-Factory building Depreciation expense-Delivery equipment Indirect materials $ 42,400 63,500 15,600 8,600 8,200 3,800 2,600 1,500 Total Manufacturing Cost is Computed as: Total manufacturing costs Direct materials Direct labor Factory overhead costs Work in process, beginning Work in process, ending $ 247,500 66,000 31,600 159,400 151,750 Barton Company Schedule of Cost of Goods Manufactured Total manufacturing costs Total cost of work in process Cost of goods manufactured In its recent annual report and related Corporate Responsibility Report, Hyatt provides information on company performance on several dimensions. Select whether the following items below best fit into the financial (label your answer Profit"), social (label your answer People), or environmental (label your answer "Planet") aspects of triple bottom line reporting. 1. Increased women in management positions. 2 Invested in career programs in Brazil. 3 Reduced water consumption at its hotels 4 Invested in reading programs for young students. 5. Earned awards for best LGBT workplace. 6. Reduced greenhouse gas emissions. In its recent annual report and related Global Responsibility Report, Starbucks provides information on company performance on several dimensions. Select whether the following items best fit into the financial (label your answer Profit"), social (label your answer "People"), or environmental (label your answer"Planet") aspects of triple bottom line reporting. 1. Reduced energy consumption. 2. Operating cash flow totaled $4.2 billion. 3. New stores are built using certified sustainable building techniques. 4. Operating income totaled $4.1 billion. 5. Decreased amounts of packaging materials. 6. Ninety-nine percent of coffee was purchased from suppliers certified for responsible farming and ethics. For each of the following accounts for a manufacturing company, select yes in the appropriate column indicating that it appears on the balance sheet, the income statement, the schedule of cost of goods manufactured, and/or a detailed listing of factory overhead costs. Assume that the income statement shows the calculation of cost of goods sold and the schedule of cost of goods manufactured shows only the total amount of factory overhead. (An account can appear on more than one report. Be certain to select "No" wherever required.) Balance Sheet Income Statement Schedule of COGM Overhead Report Account Sales Beginning work in process inventory Wages for production welders Beginning raw materials inventory Income taxes Insurance on factory building Cost of goods sold Factory supervisor salary Ending raw materials inventory Cash Factory utilities

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

Monetary Policy Strategy

Authors: Frederic S. Mishkin

1st Edition

0262513374, 978-0262513371

More Books

Students also viewed these Finance questions

Question

What is the correcting entry method?

Answered: 1 week ago