1. Empire Glass Work provides the following data relating to operations for the month ended 31 August 2020 (in £): Materials, Aug. 1 Work in process, Aug.1 Finished Goods, Aug. 1 Materials purchases Direct Materials used Indirect Materials used Direct Labor cost Indirect labor cost Selling and Administrative expenses Utility expenses, factory_ Property taxes, factory Insurance expenses, factory Depreciation expenses, factory Sales revenue Sales return and allowances Sales discount Materials, Aug 31 Work in process, Aug. 31 Finished Goods, Aug. 31 20,000 7,000 18,000 164,000 134,000 46,000 62,000 26,000 280,000 7,000 2,000 1,600 40,000 700,000 4,000 3,000 4,300 5,600 8.000 ASKED: Make a COGM Statement and Income Statement!
1. Empire Glass Work provides the following data relating to operations for the month ended 31 August 2020 (in £): Materials, Aug. 1 Work in process, Aug.1 Finished Goods, Aug. 1 Materials purchases Direct Materials used Indirect Materials used Direct Labor cost Indirect labor cost Selling and Administrative expenses Utility expenses, factory_ Property taxes, factory Insurance expenses, factory Depreciation expenses, factory Sales revenue Sales return and allowances Sales discount Materials, Aug 31 Work in process, Aug. 31 Finished Goods, Aug. 31 20,000 7,000 18,000 164,000 134,000 46,000 62,000 26,000 280,000 7,000 2,000 1,600 40,000 700,000 4,000 3,000 4,300 5,600 8.000 ASKED: Make a COGM Statement and Income Statement!
Accounting Information Systems
11th Edition
ISBN:9781337552127
Author:Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill
Publisher:Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill
Chapter2: Enterprise System
Section: Chapter Questions
Problem 2DQ: The Tigris Company is considering taking customers orders on its Web site. a. What information would...
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- Empire Glass Work provides the following data relating to operations for the month ended 31 August 2020 (in £):
|
Materials, Aug. 1 |
20,000 |
|
Work in process, Aug.1 |
7,000 |
|
Finished Goods, Aug. 1 |
18,000 |
|
Materials purchases |
164,000 |
|
Direct Materials used |
134,000 |
|
Indirect Materials used |
46,000 |
|
Direct Labor cost |
62,000 |
|
Indirect labor cost |
26,000 |
|
Selling and Administrative expenses |
280,000 |
|
Utility expenses, factory |
7,000 |
|
Property taxes, factory |
2,000 |
|
Insurance expenses, factory |
1,600 |
|
|
40,000 |
|
Sales revenue |
700,000 |
|
Sales return and allowances |
4,000 |
|
Sales discount |
3,000 |
|
Materials, Aug 31 |
4,300 |
|
Work in process, Aug. 31 |
5,600 |
|
Finished Goods, Aug. 31 |
8,000 |
ASKED:
Make a COGM Statement and Income Statement!
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1. Empire Glass Work provides the following data relating to operations for the month ended 31
+ August 2020 (in £):
Materials, Aug. 1
Work in process, Aug.1
Finished Goods, Aug. 1
Materials purchases
Direct Materials used
20.000
7,000
18,000
164.000
134,000
46,000
Indirect Materials used
Direct Labor cost
62,000
26,000
280,000
7,000
2,000
1,600
40,000
700,000
4,000
3,000
4,300
5,600
8,000
Indirect labor cost
Selling and Administrative expenses
Utility expenses, factory
Property taxes, factory
Insurance expenses, factory
Depreciation expenses, factory
Sales revenue
Sales return and allowances
Sales discount
Materials, Aug 31
Work in process, Aug. 31
Finished Goods, Aug. 31
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ASKED:
Make a COGM Statement and Income Statement!
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