Homework Help is Here – Start Your Trial Now!
Business
Accounting
Jimenez Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The following data are available for the year 2017. The numbers below repre- sent the calculations from the previous Try It! examples (6-1 through 6-4) together with the relevant schedule numbers from those examples. 6-! Revenues (Schedule 1) $925,000 Beginning inventory of finished goods (1-1-2017) Ending inventory of finished goods, 12-31-2017 (Schedule 6B) Direct materials used (Schedule 3A) Direct manufacturing labor (Schedule 4) Manufacturing overhead (Schedule 5) Variable marketing costs (4 % of revenues) Fixed marketing costs Variable distribution costs ($1.50 per cu. ft. for 30,000 cu. ft.) Fixed distribution costs 76,200 59,300 350,000 100,000 143,000 43,000 40,000 Fixed administration costs 75,000 Calculate (1) the cost of goods sold budget (label it Schedule 7); (2) the nonmanufactur- ing costs budget (label it Schedule 8); and (3) the operating income budget for the year ending December 31, 2017.

Jimenez Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The following data are available for the year 2017. The numbers below repre- sent the calculations from the previous Try It! examples (6-1 through 6-4) together with the relevant schedule numbers from those examples. 6-! Revenues (Schedule 1) $925,000 Beginning inventory of finished goods (1-1-2017) Ending inventory of finished goods, 12-31-2017 (Schedule 6B) Direct materials used (Schedule 3A) Direct manufacturing labor (Schedule 4) Manufacturing overhead (Schedule 5) Variable marketing costs (4 % of revenues) Fixed marketing costs Variable distribution costs ($1.50 per cu. ft. for 30,000 cu. ft.) Fixed distribution costs 76,200 59,300 350,000 100,000 143,000 43,000 40,000 Fixed administration costs 75,000 Calculate (1) the cost of goods sold budget (label it Schedule 7); (2) the nonmanufactur- ing costs budget (label it Schedule 8); and (3) the operating income budget for the year ending December 31, 2017.

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter27: Adjustments, Financial Statements, And Year-end Accounting For A Manufacturing business
Section: Chapter Questions
Problem 1MP: Reese Manufacturing Company manufactures and sells a limited line of products made to customer...
See similar textbooks
icon
Related questions
Question
100%
TUGAS KELOMPOK Jimenez Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The following data are available for the year 2017. The numbers below repre- sent the calculations from the previous Try It! examples (6-1 through 6-4) together with the relevant schedule numbers from those examples. 6-5 Revenues (Schedule 1) $925,000 Beginning inventory of finished goods (1-1-2017) Ending inventory of finished goods, 12-31-2017 (Schedule 6B) Direct materials used (Schedule 3A) 76,200 59,300 350,000 Direct manufacturing labor (Schedule 4) Manufacturing overhead (Schedule 5) Variable marketing costs (4% of revenues) Fixed marketing costs 100,000 143,000 43,000 Variable distribution costs (S1.50 per cu. ft. for 30,000 cu. ft.) Fixed distribution costs 40,000 Fixed administration costs 75,000 Calculate (1) the cost of goods sold budget (label it Schedule 7); (2) the nonmanufactur- ing costs budget (label it Schedule 8); and (3) the operating income budget for the year ending December 31, 2017.
Transcribed Image Text:TUGAS KELOMPOK Jimenez Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The following data are available for the year 2017. The numbers below repre- sent the calculations from the previous Try It! examples (6-1 through 6-4) together with the relevant schedule numbers from those examples. 6-5 Revenues (Schedule 1) $925,000 Beginning inventory of finished goods (1-1-2017) Ending inventory of finished goods, 12-31-2017 (Schedule 6B) Direct materials used (Schedule 3A) 76,200 59,300 350,000 Direct manufacturing labor (Schedule 4) Manufacturing overhead (Schedule 5) Variable marketing costs (4% of revenues) Fixed marketing costs 100,000 143,000 43,000 Variable distribution costs (S1.50 per cu. ft. for 30,000 cu. ft.) Fixed distribution costs 40,000 Fixed administration costs 75,000 Calculate (1) the cost of goods sold budget (label it Schedule 7); (2) the nonmanufactur- ing costs budget (label it Schedule 8); and (3) the operating income budget for the year ending December 31, 2017.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Cost Sheet
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.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Financial Accounting
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Financial Accounting
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS

Expert Answers to Latest Homework Questions

Q: 1. A piece of fully-annealed copper crystal has the orientation as shown. It is loaded under the…
Q: full explain don't chatgpt answer.
Q: The circuit below contains a battery and four resistors. The voltage across the battery is 11.6 V.…
Q: Which one of the following 2D loss typically accounts for over 50% in subsonic turbines?A) Tip…
Q: please assist with this practice 3 questions for java coding. Please provide all the necessary…
Q: In 1 ��! of forest there are 2 coyotes. If the ratio coyotes to mice is 1:150. Howmany mice would…
Q: == DeltaMat XQ Summary x SK skyward × Course M XG A college x G 65 times x +…
Q: Consider a Black - Scholes model, where the risk - free rate is r = 0.03, the volatility is σ = 0.1,…
Q: Question 2. Production and Costs. For some reason, your professor has left his job at Akerlof's and…
Q: Question 2. Production and Costs. For some reason, your professor has left his job at Akerlof's and…
Q: do fast no chatgpt answer only typing answer no use excel i will 5 upvotes. An interest rate of 4%…
Q: Please solve this question
Q: 00 X + Create 24 Find text or tools Q ℗ 4 Question 4 The following cash book receipts can be found…
Q: sin 0 Ex14: Evaluate de using Maclaurin's series, correct to 3 significant figures. Ꮎ
Q: Please solve this problem:
Q: Image written solution is not allowed please
Q: DUE DATE: WEDNESDAY 08th MAY, 2024 INSTRUCTIONS TO CANDIDATES: 1. Read all questions carefully. 2.…
Q: B3. A three-phase, 60 Hz 4-pole induction motor has a slip of 0.05 when the output is 30 kW. The…
Q: P10-4. Transfer Pricing. The Navotas Electronics Corporation operates in a decentralized set up,…
Q: Your company hired a new pipe-fitter for the upcoming year. The company owner would like for you to…
Q: how do the california red legged frog and the northern pacific tree frog coexist