Waterways Problem 01 b1-b3(Part Level Submission) Waterways Corporation is a private corporation formed for the purpose of providing the products and the services needed to Irgate farms, parks, commercial projects, and private lawn. It has a centrally located factory in a U.S. city that manufactures the products it markets to retail outlets across the nation. It also maintains a division that performs installation and warranty wnvicing insi 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, to management is considering new ideas to help the company continue its growth and maintain the high quality of its products Waterways was founded by ww Winkman who is the company president and chief executive officer (CEO) Working with Nim from the company's inception is wir brother, Ben, whese serier designs and ideas about the installation of proper systems have been a major basis of the company's success. Ben is the vice president who oversees aspects of design and production in the company The factory itself is managed by Todd Senter who wreshin ne managers to supervite the factory employees. The factory makes all of the parts for the ration 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 Writer's direction because of the uniqueness of the company's products There is a small human resource department under the direction of Sally Fenton, Vicepresident who handies the employee paperwork, though hiring is actually performed by the searate departments, Teresa Totter is the vice president who heads the sales and marketing area, the oversees 10 well-trained 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 staff of accounting input operators who maintain the financial records A partist of Waterways' accounts and their balances for the month of November follows. Accounts Receivable $277.000 Advertising Expenses 54,400 Cash 262,200 Van ES A partial list of Waterways' accounts and their balances for the month of November follows. dy. Accounts Receivable Advertising Expenses Cash Depreciation-Factory Equipment Depreciation--Office Equipment Direct Labor Factory Supplies Used Factory Utilities Finished Goods Inventory, November 30 Finished Goods Inventory, October 31 Indirect Labor Office Supplies Expense Other Administrative Expenses Prepaid Expenses Raw Materials Inventory, November 30 Raw Materials Inventory, October 31 Raw Materials Purchases Rent-Factory Equipment Repairs--Factory Equipment Salaries Sales Revenue $277,000 54,400 262,200 16,900 2,400 42,400 16,700 10,300 69,500 72,200 47,600 1,600 72,800 41,200 52,200 38,100 184,800 46,900 4,400 325,300 1,346,400 CALCULATOR s Raw Materials Inventory, November 30 Raw Materials Inventory, October 31 Raw Materials Purchases Rent-Factory Equipment Repairs ---Factory Equipment Salaries Sales Revenue Sales Commissions Work In Process Inventory October 31 Work In Process Inventory, November 30 52,200 38,100 184,800 46,900 4,400 325,300 1,346,400 40,200 52,600 42,100 dy (51) Your answer is correct. A list of accounts and their values are given above. From this information, prepare a cost of goods manufactured schedule WATERWAYS CORPORATION Cost of Goods Manufactured Schedule For the Month of November, 2016 52600 Work in Process Inventory, November 1 Direct Materials Anl CALCULATOR WATERWAYS CORPORATION Cost of Goods Manufactured Schedule For the Month of November, 2016 Work in Process Inventory. November 1 52600 Direct Materials Raw Materials Inventory, November 1 38100 Raw Material Purchases 184800 Total Raw Materials Available for Use 222900 Less Raw Materials inventory, November 30 52200 Direct Materials Used 170700 Direct Labor 42400 Manufacturing Overhead Depreciation --Factory Equipment 16900 DOO Factory Supplies Used 16700 10000 CALCULATOR Direct Materials Used 1/07UU Direct, Labor 42400 Manufacturing Overhead Depreciation--Factory Equipment 16900 Factory Supplies Used 16700 Factory Utilities 10300 Indirect Labor 47600 Rent-Factory Equipment 46900 Repairs--Factory Equipment 4400 Total Factory Overhead 142800 355900 Total Manufacturing Costs Total Cost of Work in Process 408500 Less Work in Process Inventory, November 30 42100 366400 CALCULATOR MESSAGEM Total Manufacturing Costs 355900 Total Cost of Work in Process 408500 Less Work in Process Inventory, November 30 v 42100 Cost of Goods Manufactured 366400 SHOW LIST OF ACCOUNTS SHOW ANSWER LINK TO TEXT LINK TO TEXT (52) A list of accounts and their values are given above. From this information, prepare an income statement. WATERWAYS CORPORATION Income Statement CALCULATOR 5 A list of accounts and their values are given above. From this information, prepare an income statement. WATERWAYS CORPORATION Income Statement Y. $ > > $