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Waterways Corporation is a private corporation formed for the purpose of providing the products and the services needed to irrigate farms, parks, commercial projects, and
Waterways Corporation is a private corporation formed for the purpose of providing the products and the services needed to irrigate
farms, parks, commercial projects, and private lawns. It has a centrally located factory in a US city that manufactures the products it markets to retail outlets across the nation. It also maintains a division that performs installation and warranty servicing in six metropolitan areas.
The mission of Waterways is to manufacture quality parts that can be used for effective irrigation projects that also conserve water. By that effort, the company hopes to satisfy its customers, perform rapid and responsible service, and serve the community and the
employees who represent them in each community.
The company has been growing rapidly, so management is considering new ideas to help the company continue its growth and maintain the high quality of its products. Waterways was founded by Will Winkman who is the company president and chief executive officer CEO Working with him from
the companys inception is Wills brother, Ben, whose sprinkler designs and ideas about the installation of proper systems have been a major basis of the companys success. Ben is the vice president who oversees all aspects of design and production in the company.
The factory itself is managed by Todd Senter who hires his line managers to supervise the factory employees. The factory makes all of
the parts for the irrigation systems. The purchasing department is managed by Helen Hines.
The installation and training division is overseen by vice president Henry Writer, who supervises the managers of the six local
installation operations. Each of these local managers hires his or her own local service people. These service employees are trained by
the home office under Henry Writers direction because of the uniqueness of the companys products.
There is a small human resources department under the direction of Sally Fenton, a vice president who handles the employee paperwork, though hiring is actually performed by the separate departments. Teresa Totter is the vice president who heads the sales and marketing area; she oversees welltrained salespeople.
The accounting and finance division of the company is headed by Ann Headman, who is the chief financial officer CFO and a company
vice president; she is a member of the Institute of Management Accountants and holds a certificate in management accounting. She has a small staff of accountants, including a controller and a treasurer, and a staff of accounting input operators who maintain the financial records.
A partial list of Waterways accounts and their balances for the month of November follows.
Accounts Receivable $ Advertising Expenses Cash Depreciation ExpenseFactory Equipment Depreciation ExpenseOffice Equipment Direct Labor
Factory Supplies Used
Factory Utilities
Finished Goods Inventory, November
Finished Goods Inventory, October
Indirect Labor Office Supplies Expense Other Administrative Expenses
Prepaid Expenses
Raw Materials Inventory, November
Raw Materials Inventory, October
Raw Materials Purchases
RentFactory Equipment
RepairsFactory Equipment Office Salaries
Sales Revenue
Sales Commissions Work In Process Inventory October Work In Process Inventory, November
A list of accounts and their values are given above. From this information, prepare a cost of goods manufactured schedule for Waterways Corporation for the month of November, Assume that all raw materials used were direct materials. WATERWAYS CORPORATION
Cost of Goods Manufactured Schedule
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