Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following data from the just completed year are taken from the accounting records of Eccles Company: Sales 651,000 $ $80,000 $131,000 100,000 $ Direct

image text in transcribedimage text in transcribedimage text in transcribed

The following data from the just completed year are taken from the accounting records of Eccles Company: Sales 651,000 $ $80,000 $131,000 100,000 $ Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $50,000 210,000 $ $ 228,000 Inventories: Raw materials Beginning End of of Year Year $ 8,100 $10,900 20,500 $5,200 $ Work in process Finished goods $ 73,000 $ 25,500 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. (Input all amounts as positive values. Omit the "$" sign in your response.) Eccles Company Schedule of Cost of Goods Manufactured Direct materials: (Click to select) (Click to select) v (Click to select) (Click to select) (Click to select) v : (Click to select) ta Raw materials used in production (Click to select) (Click to select) Total manufacturing cost (Click to select) v : (Click to select) 100 (Click to select) v : (Click to select) Cost of goods manufactured 2. Prepare a schedule of cost of goods sold. (Input all amounts as positive values. Omit the "$" sign in your response.) Eccles Company Schedule of Cost of Goods Sold (Click to select) (Click to select): (Click to select) $ (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) Adjusted cost of goods sold $1 3. Prepare an income statement. (Input all amounts as positive values. Omit the "$" sign in your response.) Eccles Company Income Statement (Click to select) (Click to select) (Click to select) Selling and administrative expenses: (Click to select) (Click to select) (Click to select) $

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

Managerial Accounting

Authors: Charles E. Davis, Elizabeth Davis

2nd edition

1118548639, 9781118800713, 1118338448, 9781118548639, 1118800710, 978-1118338445

More Books

Students also viewed these Accounting questions

Question

15.2c What is the OIC, and what does it do?

Answered: 1 week ago

Question

Define induction and what are its objectives ?

Answered: 1 week ago

Question

Discuss the techniques of job analysis.

Answered: 1 week ago

Question

How do we do subnetting in IPv6?Explain with a suitable example.

Answered: 1 week ago

Question

Explain the guideline for job description.

Answered: 1 week ago

Question

What is job description ? State the uses of job description.

Answered: 1 week ago