Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020 0.29/1 $48,100 Factory Insurance Factory Machinery
The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020 0.29/1 $48,100 Factory Insurance Factory Machinery Depreciation $4.700 39.700 16,100 96,100 Factory Utilities 28,700 Raw Materials inventory 7/1/19 Raw Materials Inventory 6/30/20 Finished Goods Inventory 7/1/19 Finished Goods Inventory 6/30/20 Work in Process Inventory 7/1/19 Work in Process Inventory 6/30/20 Direct Labor Indirect labor 19.900 Otce Utilities Expense 8,550 19,900 Sales Revenue 555,000 19.900 Sales Discounts 4.300 139,350 Plant Manager's Salary 61.100 24.560 Factory Property To 9.610 Accounts Receivable 27 100 Factory Repairs 1.500 Raw Materials Purchases 96,500 Cash 32.100 0.29/1 ili CLARKSON COMPANY Cost of Goods Manufactured Schedule For the Year Ended June 30, 2020 Work In Process Inventory, July 1, 2019 Direct Materials Raw Materials Inventory, July 1, 2019 48100 Raw Materials Purchases 96500 Total Raw Materials Available for Use 144600 Less Raw Materials inventary, June 10, 2020 19.900 Direct Materials used $ Direct labor 139350 Manufacturing Overhead Indirect labor 24560 Factory Insurance 4700 Factory Machinery Depreciation 16100 Factory Utilities v 20700 Plant Manager's Salary 1100 9610 Factory Property Tales Total Manufacturing Overhead Total Manufacturing Costs Total Cost of Work in Process Inventory Less Work In Process inventory, June 30, 2020 Cost of Goods Manufactured CLARKSON COMPANY (Partial) Income Statement For the Month Ended June 30, 2020 eTextbook and Media List of Accounts Save for Later Attempts of Jused Sub (c) The parts of this question must be completed in order. This part wil be available when you complete the portate
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started