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The following data were taken from the records of Larkspur Company for the fiscal year ended June 30, 2022. Raw Materials Inventory 7/1/21 $49,900 Accounts

The following data were taken from the records of Larkspur Company for the fiscal year ended June 30, 2022.

Raw Materials Inventory 7/1/21 $49,900 Accounts Receivable $34,100

Raw Materials Inventory 6/30/22 45,000 Factory Insurance 4,800

Finished Goods Inventory 7/1/21 96,100 Factory Machinery Depreciation 17,100

Finished Goods Inventory 6/30/22 28,500 Factory Utilities 30,500

Work in Process Inventory 7/1/21 22,700 Office Utilities Expense 9,550

Work in Process Inventory 6/30/22 29,200 Sales Revenue 556,800

Direct Labor 145,050 Sales Discounts 4,500

Indirect Labor 27,360 Factory Manager's Salary 65,800

Factory Property Taxes 9,910

Factory Repairs 1,500

Raw Materials Purchases 98,800

Cash 37,200

(a)

a cost of goods manufactured schedule. (Assume that all raw materials used were direct materials.)

LARKSPUR COMPANY Cost of Goods Manufactured Schedule for the year ended June 30, 2022

Work in Process, july 1, 2021 $22,700

Direct Materials Used

raw material inventory july 1,2021 $49,900

raw material purchased
98,800

total raw materials available for use 148,700

less: raw material inventory june 30,2022
45,000

direct material used $103,700

direct labor 145,050

Manufacturing Overhead

Indirect Labor 27,360

factory insurance 4,800

Factory Machinery Depreciation 17,100

Factory Utilities 30,500

Factory Manager's Salary 65,800

Factory Property Taxes 9,910

Factory Repairs
1,500

Total Manufacturing Overhead
156,970

Total Manufacturing Costs
405,720

Total Cost of Work in Process 428,420

Less:Work in Process, June 30, 2022
29,200

Cost of Goods Manufactured $399,220

(b)

an income statement through gross profit.

LARKSPUR COMPANY Income Statement (Partial) choose the accounting period For the Year Ended June 30, 2022June 30, 2022For the Month Ended June 30, 2022

select an opening name for section one Cost of Goods Available for SaleCost of Goods ManufacturedCost of Goods SoldFinished Goods Inventory, July 1, 2021Finished Goods Inventory, June 30, 2022Gross ProfitNet SalesSales RevenueSales DiscountsOffice Utilities ExpenseDirect LaborDirect MaterialsDirect Materials UsedFactory Machinery DepreciationFactory InsuranceFactory Property TaxesFactory RepairsFactory UtilitiesIndirect LaborManufacturing OverheadPlant Manager's SalaryRaw Materials Inventory, July 1, 2021Raw Materials Inventory, June 30, 2022Raw Materials PurchasesTotal Cost of Work in Process InventoryTotal Manufacturing CostsTotal Manufacturing OverheadTotal Raw Materials Available for UseWork in Process Inventory, July 1, 2021Work in Process Inventory, June 30, 2022Accounts ReceivableCash $enter a dollar amount

select between addition and deduction AddLess:select an income statement item Cost of Goods Available for SaleCost of Goods ManufacturedCost of Goods SoldFinished Goods Inventory, July 1, 2021Finished Goods Inventory, June 30, 2022Gross ProfitNet SalesSales RevenueSales DiscountsOffice Utilities ExpenseDirect LaborDirect MaterialsDirect Materials UsedFactory Machinery DepreciationFactory InsuranceFactory Property TaxesFactory RepairsFactory UtilitiesIndirect LaborManufacturing OverheadPlant Manager's SalaryRaw Materials Inventory, July 1, 2021Raw Materials Inventory, June 30, 2022Raw Materials PurchasesTotal Cost of Work in Process InventoryTotal Manufacturing CostsTotal Manufacturing OverheadTotal Raw Materials Available for UseWork in Process Inventory, July 1, 2021Work in Process Inventory, June 30, 2022Accounts ReceivableCash
enter a dollar amount

select a closing name for section one Cost of Goods Available for SaleCost of Goods ManufacturedCost of Goods SoldFinished Goods Inventory, July 1, 2021Finished Goods Inventory, June 30, 2022Gross ProfitNet SalesSales RevenueSales DiscountsOffice Utilities ExpenseDirect LaborDirect MaterialsDirect Materials UsedFactory Machinery DepreciationFactory InsuranceFactory Property TaxesFactory RepairsFactory UtilitiesIndirect LaborManufacturing OverheadPlant Manager's SalaryRaw Materials Inventory, July 1, 2021Raw Materials Inventory, June 30, 2022Raw Materials PurchasesTotal Cost of Work in Process InventoryTotal Manufacturing CostsTotal Manufacturing OverheadTotal Raw Materials Available for UseWork in Process Inventory, July 1, 2021Work in Process Inventory, June 30, 2022Accounts ReceivableCash $enter a total amount for section one

select an opening name for section two Cost of Goods Available for SaleCost of Goods ManufacturedCost of Goods SoldFinished Goods Inventory, July 1, 2021Finished Goods Inventory, June 30, 2022Gross ProfitNet SalesSales RevenueSales DiscountsOffice Utilities ExpenseDirect LaborDirect MaterialsDirect Materials UsedFactory Machinery DepreciationFactory InsuranceFactory Property TaxesFactory RepairsFactory UtilitiesIndirect LaborManufacturing OverheadPlant Manager's SalaryRaw Materials Inventory, July 1, 2021Raw Materials Inventory, June 30, 2022Raw Materials PurchasesTotal Cost of Work in Process InventoryTotal Manufacturing CostsTotal Manufacturing OverheadTotal Raw Materials Available for UseWork in Process Inventory, July 1, 2021Work in Process Inventory, June 30, 2022Accounts ReceivableCash

select an income statement item Cost of Goods Available for SaleCost of Goods ManufacturedCost of Goods SoldFinished Goods Inventory, July 1, 2021Finished Goods Inventory, June 30, 2022Gross ProfitNet SalesSales RevenueSales DiscountsOffice Utilities ExpenseDirect LaborDirect MaterialsDirect Materials UsedFactory Machinery DepreciationFactory InsuranceFactory Property TaxesFactory RepairsFactory UtilitiesIndirect LaborManufacturing OverheadPlant Manager's SalaryRaw Materials Inventory, July 1, 2021Raw Materials Inventory, June 30, 2022Raw Materials PurchasesTotal Cost of Work in Process InventoryTotal Manufacturing CostsTotal Manufacturing OverheadTotal Raw Materials Available for UseWork in Process Inventory, July 1, 2021Work in Process Inventory, June 30, 2022Accounts ReceivableCash enter a dollar amount

select an income statement item Cost of Goods Available for SaleCost of Goods ManufacturedCost of Goods SoldFinished Goods Inventory, July 1, 2021Finished Goods Inventory, June 30, 2022Gross ProfitNet SalesSales RevenueSales DiscountsOffice Utilities ExpenseDirect LaborDirect MaterialsDirect Materials UsedFactory Machinery DepreciationFactory InsuranceFactory Property TaxesFactory RepairsFactory UtilitiesIndirect LaborManufacturing OverheadPlant Manager's SalaryRaw Materials Inventory, July 1, 2021Raw Materials Inventory, June 30, 2022Raw Materials PurchasesTotal Cost of Work in Process InventoryTotal Manufacturing CostsTotal Manufacturing OverheadTotal Raw Materials Available for UseWork in Process Inventory, July 1, 2021Work in Process Inventory, June 30, 2022Accounts ReceivableCash
enter a dollar amount

select an income statement item Cost of Goods Available for SaleCost of Goods ManufacturedCost of Goods SoldFinished Goods Inventory, July 1, 2021Finished Goods Inventory, June 30, 2022Gross ProfitNet SalesSales RevenueSales DiscountsOffice Utilities ExpenseDirect LaborDirect MaterialsDirect Materials UsedFactory Machinery DepreciationFactory InsuranceFactory Property TaxesFactory RepairsFactory UtilitiesIndirect LaborManufacturing OverheadPlant Manager's SalaryRaw Materials Inventory, July 1, 2021Raw Materials Inventory, June 30, 2022Raw Materials PurchasesTotal Cost of Work in Process InventoryTotal Manufacturing CostsTotal Manufacturing OverheadTotal Raw Materials Available for UseWork in Process Inventory, July 1, 2021Work in Process Inventory, June 30, 2022Accounts ReceivableCash enter a total of the two previous amounts

select between addition and deduction AddLess:select an income statement item Cost of Goods Available for SaleCost of Goods ManufacturedCost of Goods SoldFinished Goods Inventory, July 1, 2021Finished Goods Inventory, June 30, 2022Gross ProfitNet SalesSales RevenueSales DiscountsOffice Utilities ExpenseDirect LaborDirect MaterialsDirect Materials UsedFactory Machinery DepreciationFactory InsuranceFactory Property TaxesFactory RepairsFactory UtilitiesIndirect LaborManufacturing OverheadPlant Manager's SalaryRaw Materials Inventory, July 1, 2021Raw Materials Inventory, June 30, 2022Raw Materials PurchasesTotal Cost of Work in Process InventoryTotal Manufacturing CostsTotal Manufacturing OverheadTotal Raw Materials Available for UseWork in Process Inventory, July 1, 2021Work in Process Inventory, June 30, 2022Accounts ReceivableCash
enter a dollar amount

select a closing name for section two Cost of Goods Available for SaleCost of Goods ManufacturedCost of Goods SoldFinished Goods Inventory, July 1, 2021Finished Goods Inventory, June 30, 2022Gross ProfitNet SalesSales RevenueSales DiscountsOffice Utilities ExpenseDirect LaborDirect MaterialsDirect Materials UsedFactory Machinery DepreciationFactory InsuranceFactory Property TaxesFactory RepairsFactory UtilitiesIndirect LaborManufacturing OverheadPlant Manager's SalaryRaw Materials Inventory, July 1, 2021Raw Materials Inventory, June 30, 2022Raw Materials PurchasesTotal Cost of Work in Process InventoryTotal Manufacturing CostsTotal Manufacturing OverheadTotal Raw Materials Available for UseWork in Process Inventory, July 1, 2021Work in Process Inventory, June 30, 2022Accounts ReceivableCash
enter a total amount for section two

select a closing name for this statement Cost of Goods Available for SaleCost of Goods ManufacturedCost of Goods SoldFinished Goods Inventory, July 1, 2021Finished Goods Inventory, June 30, 2022Gross ProfitNet SalesSales RevenueSales DiscountsOffice Utilities ExpenseDirect LaborDirect MaterialsDirect Materials UsedFactory Machinery DepreciationFactory InsuranceFactory Property TaxesFactory RepairsFactory UtilitiesIndirect LaborManufacturing OverheadPlant Manager's SalaryRaw Materials Inventory, July 1, 2021Raw Materials Inventory, June 30, 2022Raw Materials PurchasesTotal Cost of Work in Process InventoryTotal Manufacturing CostsTotal Manufacturing OverheadTotal Raw Materials Available for UseWork in Process Inventory, July 1, 2021Work in Process Inventory, June 30, 2022Accounts ReceivableCash $enter a total amount for this statement

List of Accounts

Assistance Used

Accounts Receivable

Administrative Expenses

Cash

Direct Labor

Factory Depreciation

Factory Insurance

Factory Manager's Salary

Factory Property Taxes

Factory Repairs

Factory Utilities

Finished Goods Inventory

Income Summary

Income Tax Expense

Indirect Labor

Manufacturing Summary

Prepaid Expense

Raw Materials Inventory

Raw Materials Purchases

Retained Earnings

Sales

Selling Expenses

Work in Process Inventory

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Previous Question Next Question

Raw Materials Inventory 7/1/21	$49,900	Accounts Receivable	$34,100
Raw Materials Inventory 6/30/22	45,000	Factory Insurance	4,800
Finished Goods Inventory 7/1/21	96,100	Factory Machinery Depreciation	17,100
Finished Goods Inventory 6/30/22	28,500	Factory Utilities	30,500
Work in Process Inventory 7/1/21	22,700	Office Utilities Expense	9,550
Work in Process Inventory 6/30/22	29,200	Sales Revenue	556,800
Direct Labor	145,050	Sales Discounts	4,500
Indirect Labor	27,360	Factory Manager's Salary	65,800
		Factory Property Taxes	9,910
		Factory Repairs	1,500
		Raw Materials Purchases	98,800
		Cash	37,200

LARKSPUR COMPANY Cost of Goods Manufactured Schedule for the year ended June 30, 2022
Work in Process, july 1, 2021			$22,700
Direct Materials Used
raw material inventory july 1,2021	$49,900
raw material purchased	98,800
total raw materials available for use	148,700
less: raw material inventory june 30,2022	45,000
direct material used		$103,700
direct labor		145,050
Manufacturing Overhead
Indirect Labor	27,360
factory insurance	4,800
Factory Machinery Depreciation	17,100
Factory Utilities	30,500
Factory Manager's Salary	65,800
Factory Property Taxes	9,910
Factory Repairs	1,500
Total Manufacturing Overhead		156,970
Total Manufacturing Costs			405,720
Total Cost of Work in Process			428,420
Less:Work in Process, June 30, 2022			29,200
Cost of Goods Manufactured			$399,220

LARKSPUR COMPANY Income Statement (Partial) choose the accounting period For the Year Ended June 30, 2022June 30, 2022For the Month Ended June 30, 2022
select an opening name for section one Cost of Goods Available for SaleCost of Goods ManufacturedCost of Goods SoldFinished Goods Inventory, July 1, 2021Finished Goods Inventory, June 30, 2022Gross ProfitNet SalesSales RevenueSales DiscountsOffice Utilities ExpenseDirect LaborDirect MaterialsDirect Materials UsedFactory Machinery DepreciationFactory InsuranceFactory Property TaxesFactory RepairsFactory UtilitiesIndirect LaborManufacturing OverheadPlant Manager's SalaryRaw Materials Inventory, July 1, 2021Raw Materials Inventory, June 30, 2022Raw Materials PurchasesTotal Cost of Work in Process InventoryTotal Manufacturing CostsTotal Manufacturing OverheadTotal Raw Materials Available for UseWork in Process Inventory, July 1, 2021Work in Process Inventory, June 30, 2022Accounts ReceivableCash	$enter a dollar amount
select between addition and deduction AddLess:select an income statement item Cost of Goods Available for SaleCost of Goods ManufacturedCost of Goods SoldFinished Goods Inventory, July 1, 2021Finished Goods Inventory, June 30, 2022Gross ProfitNet SalesSales RevenueSales DiscountsOffice Utilities ExpenseDirect LaborDirect MaterialsDirect Materials UsedFactory Machinery DepreciationFactory InsuranceFactory Property TaxesFactory RepairsFactory UtilitiesIndirect LaborManufacturing OverheadPlant Manager's SalaryRaw Materials Inventory, July 1, 2021Raw Materials Inventory, June 30, 2022Raw Materials PurchasesTotal Cost of Work in Process InventoryTotal Manufacturing CostsTotal Manufacturing OverheadTotal Raw Materials Available for UseWork in Process Inventory, July 1, 2021Work in Process Inventory, June 30, 2022Accounts ReceivableCash	enter a dollar amount
select a closing name for section one Cost of Goods Available for SaleCost of Goods ManufacturedCost of Goods SoldFinished Goods Inventory, July 1, 2021Finished Goods Inventory, June 30, 2022Gross ProfitNet SalesSales RevenueSales DiscountsOffice Utilities ExpenseDirect LaborDirect MaterialsDirect Materials UsedFactory Machinery DepreciationFactory InsuranceFactory Property TaxesFactory RepairsFactory UtilitiesIndirect LaborManufacturing OverheadPlant Manager's SalaryRaw Materials Inventory, July 1, 2021Raw Materials Inventory, June 30, 2022Raw Materials PurchasesTotal Cost of Work in Process InventoryTotal Manufacturing CostsTotal Manufacturing OverheadTotal Raw Materials Available for UseWork in Process Inventory, July 1, 2021Work in Process Inventory, June 30, 2022Accounts ReceivableCash		$enter a total amount for section one
select an opening name for section two Cost of Goods Available for SaleCost of Goods ManufacturedCost of Goods SoldFinished Goods Inventory, July 1, 2021Finished Goods Inventory, June 30, 2022Gross ProfitNet SalesSales RevenueSales DiscountsOffice Utilities ExpenseDirect LaborDirect MaterialsDirect Materials UsedFactory Machinery DepreciationFactory InsuranceFactory Property TaxesFactory RepairsFactory UtilitiesIndirect LaborManufacturing OverheadPlant Manager's SalaryRaw Materials Inventory, July 1, 2021Raw Materials Inventory, June 30, 2022Raw Materials PurchasesTotal Cost of Work in Process InventoryTotal Manufacturing CostsTotal Manufacturing OverheadTotal Raw Materials Available for UseWork in Process Inventory, July 1, 2021Work in Process Inventory, June 30, 2022Accounts ReceivableCash
select an income statement item Cost of Goods Available for SaleCost of Goods ManufacturedCost of Goods SoldFinished Goods Inventory, July 1, 2021Finished Goods Inventory, June 30, 2022Gross ProfitNet SalesSales RevenueSales DiscountsOffice Utilities ExpenseDirect LaborDirect MaterialsDirect Materials UsedFactory Machinery DepreciationFactory InsuranceFactory Property TaxesFactory RepairsFactory UtilitiesIndirect LaborManufacturing OverheadPlant Manager's SalaryRaw Materials Inventory, July 1, 2021Raw Materials Inventory, June 30, 2022Raw Materials PurchasesTotal Cost of Work in Process InventoryTotal Manufacturing CostsTotal Manufacturing OverheadTotal Raw Materials Available for UseWork in Process Inventory, July 1, 2021Work in Process Inventory, June 30, 2022Accounts ReceivableCash	enter a dollar amount
select an income statement item Cost of Goods Available for SaleCost of Goods ManufacturedCost of Goods SoldFinished Goods Inventory, July 1, 2021Finished Goods Inventory, June 30, 2022Gross ProfitNet SalesSales RevenueSales DiscountsOffice Utilities ExpenseDirect LaborDirect MaterialsDirect Materials UsedFactory Machinery DepreciationFactory InsuranceFactory Property TaxesFactory RepairsFactory UtilitiesIndirect LaborManufacturing OverheadPlant Manager's SalaryRaw Materials Inventory, July 1, 2021Raw Materials Inventory, June 30, 2022Raw Materials PurchasesTotal Cost of Work in Process InventoryTotal Manufacturing CostsTotal Manufacturing OverheadTotal Raw Materials Available for UseWork in Process Inventory, July 1, 2021Work in Process Inventory, June 30, 2022Accounts ReceivableCash	enter a dollar amount
select an income statement item Cost of Goods Available for SaleCost of Goods ManufacturedCost of Goods SoldFinished Goods Inventory, July 1, 2021Finished Goods Inventory, June 30, 2022Gross ProfitNet SalesSales RevenueSales DiscountsOffice Utilities ExpenseDirect LaborDirect MaterialsDirect Materials UsedFactory Machinery DepreciationFactory InsuranceFactory Property TaxesFactory RepairsFactory UtilitiesIndirect LaborManufacturing OverheadPlant Manager's SalaryRaw Materials Inventory, July 1, 2021Raw Materials Inventory, June 30, 2022Raw Materials PurchasesTotal Cost of Work in Process InventoryTotal Manufacturing CostsTotal Manufacturing OverheadTotal Raw Materials Available for UseWork in Process Inventory, July 1, 2021Work in Process Inventory, June 30, 2022Accounts ReceivableCash	enter a total of the two previous amounts
select between addition and deduction AddLess:select an income statement item Cost of Goods Available for SaleCost of Goods ManufacturedCost of Goods SoldFinished Goods Inventory, July 1, 2021Finished Goods Inventory, June 30, 2022Gross ProfitNet SalesSales RevenueSales DiscountsOffice Utilities ExpenseDirect LaborDirect MaterialsDirect Materials UsedFactory Machinery DepreciationFactory InsuranceFactory Property TaxesFactory RepairsFactory UtilitiesIndirect LaborManufacturing OverheadPlant Manager's SalaryRaw Materials Inventory, July 1, 2021Raw Materials Inventory, June 30, 2022Raw Materials PurchasesTotal Cost of Work in Process InventoryTotal Manufacturing CostsTotal Manufacturing OverheadTotal Raw Materials Available for UseWork in Process Inventory, July 1, 2021Work in Process Inventory, June 30, 2022Accounts ReceivableCash	enter a dollar amount
select a closing name for section two Cost of Goods Available for SaleCost of Goods ManufacturedCost of Goods SoldFinished Goods Inventory, July 1, 2021Finished Goods Inventory, June 30, 2022Gross ProfitNet SalesSales RevenueSales DiscountsOffice Utilities ExpenseDirect LaborDirect MaterialsDirect Materials UsedFactory Machinery DepreciationFactory InsuranceFactory Property TaxesFactory RepairsFactory UtilitiesIndirect LaborManufacturing OverheadPlant Manager's SalaryRaw Materials Inventory, July 1, 2021Raw Materials Inventory, June 30, 2022Raw Materials PurchasesTotal Cost of Work in Process InventoryTotal Manufacturing CostsTotal Manufacturing OverheadTotal Raw Materials Available for UseWork in Process Inventory, July 1, 2021Work in Process Inventory, June 30, 2022Accounts ReceivableCash		enter a total amount for section two
select a closing name for this statement Cost of Goods Available for SaleCost of Goods ManufacturedCost of Goods SoldFinished Goods Inventory, July 1, 2021Finished Goods Inventory, June 30, 2022Gross ProfitNet SalesSales RevenueSales DiscountsOffice Utilities ExpenseDirect LaborDirect MaterialsDirect Materials UsedFactory Machinery DepreciationFactory InsuranceFactory Property TaxesFactory RepairsFactory UtilitiesIndirect LaborManufacturing OverheadPlant Manager's SalaryRaw Materials Inventory, July 1, 2021Raw Materials Inventory, June 30, 2022Raw Materials PurchasesTotal Cost of Work in Process InventoryTotal Manufacturing CostsTotal Manufacturing OverheadTotal Raw Materials Available for UseWork in Process Inventory, July 1, 2021Work in Process Inventory, June 30, 2022Accounts ReceivableCash		$enter a total amount for this statement