Marigold Manufacturing Inc.'s accounting records reflect the following inventories:     Dec. 31, 2021 Dec. 31, 2022   Raw materials inventory $100400 $79900   Work in process inventory 129200 145300   Finished goods inventory 125600 114000 During 2022, Marigold purchased $949000 of raw materials, incurred direct labour costs of $124200, and incurred manufacturing overhead totalling $159300. Marigold Manufacturing’s cost of goods manufactured for 2022 amounted to $1236900. How much would it report as cost of goods sold for the year? $1361100 $1225300 $1248600 $1248500

Q: Lando company reported the following amounts for 2022: Raw materials purchased: $83,000 Beginning…

A: Closing raw materials = Opening raw materials + Purchases made during the period -  Raw materials…

Q: Madelon Lee Company's general ledger included the following items related to its manufacturing…

A: Overhead is a cost which isn't directly identified with the creation of the item or administration.…

Q: Vaughn Manufacturing's accounting records reflect the following inventories: 12/31/2020 12/31/2019…

A: Cost of goods sold =Cost of goods  Manufacturing + Beginning finished goods inventory - Ending…

Q: Mirbat Company has the following information for the period ended 31 December 2020. Direct material…

A: Manufacturing statement is the account which is prepared in order to depict all the costs in…

Q: Ethel Company provided the following information as of May 31, 2020 Sales P900,000 Finished goods…

A: The total manufacturing cost is the total cost of a company's production process over a specific…

Q: Bubba Manufacturing Company provided the following information for the fiscal year to June 30, 2020:…

A: It is the sum of Adjusted raw material, manufacturing cost, and Adjusted Work-in-progress inventory.…

Q: The following information were taken from the accounting records of BLUE Corporation for the year…

A: Raw material used=Raw material purchased+Freight in-Increase in raw…

Q: The following are information provided for Norman Company for the month of August 2019 (refer to the…

A: The prime cost is total of direct materials and direct labor cost.  The conversion cost os total of…

Q: The following information were taken from the accounting records of BLUE Corporation for the year…

A: Cost of goods manufactured = Factory cost + Opening WIP  - Closing WIP Factory cost = Prime cost  +…

Q: The beginning and ending balance of selected accounts of Drea Paper Products Inc. for the year 2020…

A: Drea Paper Products     Calculation of Cost of Goods manufactured             P P Direct…

Q: Based on the partial trial balance below,  prepare the Statement of Income (SCI) with supporting…

A:

Q: The following information was taken from the accounting records of Dunbar Mifflin Company in 2018.…

A: Cost of Goods Sold is the cost of producing the goods, and it consists of direct materials, direct…

Q: Prepare the current assets section of the balance sheet at June 30, 2022. (LIst Current Assets in…

A: Current assets means the assets which can be easily convertible in to cash generally with in one…

Q: Sunland Company's accounting records reflect the following inventories: Dec. 31, 2022 Dec. 31, 2021…

A: The total manufacturing costs are calculated as sum of direct materials used, direct labor and…

Q: Peak Manufacturing Inc.'s accounting records reflect the following inventories: Dec. 31, 2021 Dec.…

A: Raw materials used = Beginning raw materials + Raw materials purchased - Ending raw materials

Q: Prepare a statement of cost of goods manufactured for the month of Prepare an income statement for…

A: Cost of goods manufactured is the accumulation of all costs till manufacture stage.

Q: 2. .JYD Manufacturing Company showed the following information as of June 1, 2020%3; Raw materials…

A: Cost sheet is a sheet which describes the cost associated with a product at different stages like…

Q: The following costs and inventory data were taken from the accounts of Kobe Inc. for 2019: January…

A: The question is based on the concept of Cost Accounting.

Q: ABC Company has the following information for the period ended 31 December 2020. Direct material…

A: Manufacturing account is an account which shows the cost incurred to manufactured the goods…

Q: The following data were taken from the records of Waterway Company for the fiscal year ended June…

A: Current Assets: Current assets comprise cash and cash equivalents, accounts receivable, stock…

Q: The given miscellaneous data has been collected for a manufacturing company for the year ended…

A: The question is related to Cost Sheet. The cost of goods manufactured will be calculated with the…

Q: Muscat Company's accounting records reflect the following inventories: Dec. 31, 2020, Jan. 1, 2020…

A: The manufacturing cost for the year would be computed by adding the raw materials used by Muscat…

Q: Ogleby Inc.'s accounting records reflect the following inventories:…

A: Cost of goods manufactured = Beginning Work in process inventory + Total manufacturing costs -…

Q: An enterprise had the following opening and closing inventory balances in 2021: 1/1/21 12/31/21…

A: The financial position of the company can be arrived from the income statement prepared by the…

Q: The given miscellaneous data has been collected for a manufacturing company for the year ended…

A: cost of goods manufactured: Cost of goods manufactured is a technique by which business managers and…

Q: The following inventory information is available for Cullumber Manufacturing Corporation for the…

A: Total Manufacturing Overhead cost  = Utilities + Depreciation on manufacturing machinery +…

Q: JYD Manufacturing Company showed the following information as of June 1, 2020; ​Raw materials…

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

Q: ABC Company has the following information for the period ended 31 December 2020. Direct material…

A: Cost sheet is a method of allocating total cost into different categories such as direct material…

Q: FJW Manufacturing Co. produces only one product. You have obtained the following information from…

A: Cost of goods manufactured means total cost of manufacturing of goods. It includes direct material…

Q: Following balances as of the year ended December 31, 2019 of Yelen Trading co. Direct Materials…

A: Inventories are the goods or work in progress of finished goods which was held by the entity during…

Q: The following data were taken from the records of Westbrooks Company: INVENTORIES   Aug. 31, 2020…

A:

Q: The following information is available for the QRS Corporation for 2019:  Inventories…

A: One of the three key financial statements for reporting a company's financial performance over a…

Q: The following data summarizes in part the results of operations for 2021 of Diamond Company. Of the…

A: Unfinished inventory refers to all raw materials, work-in-progress, parts, supplies, returned…

Q: Bidiyah Sugar Factory had the following data: Jan. 1, 2019 Dec. 31, 2019 Raw materials inventory OMR…

A: Cost of goods manufactured = Total Manufacturing Cost (Direct Materials + Direct Labor + Overhead…

Q: Ledger Company is a manufacturer. The entity had the following balances of their inventories as at…

A: Work in process(WIP) inventory is the inventory which is under process where the raw materials,…

Q: Bidiyah Sugar Factory had the following data: Jan. 1, 2020 Dec. 31, 2020 Raw materials inventory OMR…

A: Cost of goods sold means total cost incurred on the goods which are to be sold to external market.…

Q: Srevden Corporation has the following beginning inventory balances: Raw Material Inventory =…

A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: Benson Inc.'s accounting records reflect the following inventories:     Dec. 31, 2016 Dec. 31, 2017…

A: Formula: Raw material Transferred to Production=(Beginning Raw material Inventory)+(Raw Material…

Q: Waterway Industries's accounting records reflect the following inventories:   Dec. 31, 2019   Dec.…

A: Manufacturing costs: Manufacturing costs are the costs which are involved in converting the raw…

Q: Sohar Company's accounting records reflect the following inventories: Items Jan. 1, 2019 Dec. 31,…

A: Direct material used = Beginning raw material inventory + Purchase of raw material - Ending raw…

Q: The following information was collected from Balatas Hercules' accounting records for the year that…

A:

Q: The following data were taken from the records of Waterway Company for the fiscal year ended June…

A: Schedule of Cost of Goods Manufactured    Amount  Direct Materials:   Beginning Raw Materials…

Q: Benson Inc.'s accounting records reflect the following inventories: Dec. 31, 2016 $ 80,000 Dec. 31,…

A: Cost if goods sold is the cost incurred to produce/ make the goods.

Q: At the end of 2019, Alonzo Company’s manufacturing inventory and expense accounts held the following…

A: Adjusted Finished Goods inventory=(Direct Materials+Direct Labor+Factory Overhead)+Under applied…

Q: ABC Company has the following records for the period ended 31 December 2020. Raw Material purchased…

A: The company's income statement is prepared for arriving at the profits generated by the company…

Q: At May 31, 2020, the accounts of Sheffield Company show the following. 1.   May 1…

A: In order to determine the cost of goods manufactured, Beginning Work in Process inventory is…

Q: The following information were taken from the accounting records of BLUE Corporation for the year…

A: Freight out is considered as a selling expense and is therefore not included in the cost of goods…

Q: Ogleby Inc.'s accounting records reflect the following inventories: Dec. 31, 2020 Dec. 31, 2019 Raw…

A: Given the following information: Raw materials inventoryDec 31, 2020: $20,000Dec 31, 2019: $80,000…

Q: The following information was reported by AS Company for the month of September 2019. The total cost…

A: Direct Materials refers to the raw materials used to manufacture a product. Normally all the direct…

Q: The following data pertains to the Minnie Mouse Chocolate Factory for the year ended March 31, 2020.…

A: The gross profit is calculated as difference between sales and cost of goods sold.