Answered step by step
Verified Expert Solution
Link Copied!

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

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

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

Financial And Managerial Accounting The Basis For Business Decisions

Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello

19th Edition

1260247937, 978-1260247930

More Books

Students also viewed these Accounting questions