CHARLIE MANUFACTURING COMPANY June 30, 2018 Beginning Direct $ 26,000 Beginning Direct Materials Purchases of Direct Materials х 51,000 81,000 Ending Direct Materials (26,000) Direct х Direct х Manufacturing Overhead 50,000 Total Costs 177,000 Total Costs х Ending (29,000) %2$ х CHARLIE MANUFACTURING COMPANY June 30, 2018 Net Sales Revenue х Cost of Goods Sold: Beginning $ 118,000 х Cost of Goods Ending Cost of Goods Sold 232,000 Gross Profit 268,000 Expenses: Selling Expenses 90,000 Administrative Expenses Total 150,000 Income х 11
CHARLIE MANUFACTURING COMPANY June 30, 2018 Beginning Direct $ 26,000 Beginning Direct Materials Purchases of Direct Materials х 51,000 81,000 Ending Direct Materials (26,000) Direct х Direct х Manufacturing Overhead 50,000 Total Costs 177,000 Total Costs х Ending (29,000) %2$ х CHARLIE MANUFACTURING COMPANY June 30, 2018 Net Sales Revenue х Cost of Goods Sold: Beginning $ 118,000 х Cost of Goods Ending Cost of Goods Sold 232,000 Gross Profit 268,000 Expenses: Selling Expenses 90,000 Administrative Expenses Total 150,000 Income х 11
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Preparing a schedule of cost of goods manufactured and an income statement for a manufacturing company
Certain item descriptions and amounts are missing from the monthly schedule of cost of goods manufactured and income statement of Charlie Manufacturing Company. Fill in the blanks with the missing words, and replace the Xs with the correct amounts.
Transcribed Image Text:CHARLIE MANUFACTURING COMPANY
June 30, 2018
Beginning
Direct
$ 26,000
Beginning Direct Materials
Purchases of Direct Materials
х
51,000
81,000
Ending Direct Materials
(26,000)
Direct
х
Direct
х
Manufacturing Overhead
50,000
Total
Costs
177,000
Total
Costs
х
Ending
(29,000)
%2$
х
Transcribed Image Text:CHARLIE MANUFACTURING COMPANY
June 30, 2018
Net Sales Revenue
х
Cost of Goods Sold:
Beginning
$ 118,000
х
Cost of Goods
Ending
Cost of Goods Sold
232,000
Gross Profit
268,000
Expenses:
Selling Expenses
90,000
Administrative Expenses
Total
150,000
Income
х
11
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education