Question
The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2017. Raw Materials Inventory 7/1/16 $51,100 Factory
The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2017.
Raw Materials Inventory 7/1/16 $51,100
Factory Insurance $4,700
Raw Materials Inventory 6/30/17 46,000
Factory Machinery Depreciation 19,000
Finished Goods Inventory 7/1/16 98,200
Factory Utilities 29,100
Finished Goods Inventory 6/30/17 26,100
Office Utilities Expense 9,350
Work in Process Inventory 7/1/16 26,800
Sales Revenue 564,000
Work in Process Inventory 6/30/17 22,300
Sales Discounts 4,700
Direct Labor 147,750
Plant Managers Salary 65,600
Indirect Labor 26,560
Factory Property Taxes 9,810
Accounts Receivable 27,100
Factory Repairs 1,600
Raw Materials Purchases 97,500
Cash 35,600
Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct materials.)
The talliowing data were taken from the records of Clarkson Company far the iscal year ended June 30, 2017 51,100 Fact 46,000 Factory Machinery Depreclatian BE,200 Raw Materals Inventory 7/1/1 Raw Materlals Inventory 6/30/17 Finishec Goods Inventory 7/1/iE Finlshec Goods Inventory 30/17 Wark In Process Inventory 7/1/i6 Wark In Process Inventory 3017 54,700 19,000 29,100 9,350 564,000 4,700 65,600 9,B10 1,500 37,500 35,600 Factary Insurance Factary utizies Omice une Expense Seles Revenue Seles Discount: Plant Managers Salary 26,800 147,75 26,560 Fectory Property Taxes 27.100FactryRepeirs Accounts Recelvable Raw Materials Purchases Prepare a cost of acods manufectured scheduie. (Asaume al raw materias used were airect materals. Cost of Goods Manufactured ScheduleStep by Step Solution
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