Homework Help is Here – Start Your Trial Now!
Business
Accounting
roblem Schedule of Goods Manufactured; Income Statement; Cost Behavi -оз, LO4, LO5] Carlton Manufacturing Company provided the following details about operations in February: Purchases of raw naterials $178, 000 Maintenance, factory Direct labour 41, 800 35, 700 61, 400 Depreciation, factory equipment Indirect naterials, factory Selling and administrative salaries Utilities, factory Sales commissions Insurance, factory equipment Depreciation, sales equipment 3, 800 47, 300 29, 200 19, 100 4, 800 23, 200

roblem Schedule of Goods Manufactured; Income Statement; Cost Behavi -оз, LO4, LO5] Carlton Manufacturing Company provided the following details about operations in February: Purchases of raw naterials $178, 000 Maintenance, factory Direct labour 41, 800 35, 700 61, 400 Depreciation, factory equipment Indirect naterials, factory Selling and administrative salaries Utilities, factory Sales commissions Insurance, factory equipment Depreciation, sales equipment 3, 800 47, 300 29, 200 19, 100 4, 800 23, 200

Financial & Managerial Accounting
Financial & Managerial Accounting
14th Edition
ISBN:9781337119207
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter15: Introduction To Managerial Accounting
Section: Chapter Questions
Problem 15.9EX: Classifying costs The following is a manufacturing cost report of Marching Ants Inc. Evaluate and...
See similar textbooks
icon
Related questions
Question
100%

 Please illustrate how to calculated rent factory building, thanks

Problem 2-24 Schedule of Cost of Goods Manufactured; Income Statement; Cost Behaviour [LO1, LO2, LO3, LO4, LO5] Carlton Manufacturing Company provided the following details about operations in February: $178, 000 41, 800 35, 700 61, 400 3, 800 47, 300 29, 200 19, 100 4, 800 23, 200 115, 500 Purchases of raw materials Maintenance, factory Direct labour Depreciation, factory equipment Indirect materials, factory Selling and administrative salaries Utilities, factory Sales commissions Insurance, factory equipment Depreciation, sales equipment Advertising expenses Rent, factory building The company also provided details regarding the balances in the inventory accounts at the beginning and end of the month as follows: Beginning of Month $ 41, 000 End of Month Raw materials Work in process Finished goods 30, 400 23, 000 ? Raw materials used in production cost $192,920, total overhead costs for the year were $219,920, the goods available for sale totalled $424,000, and the cost of goods sold totalled $365,500. Required: 1-a. Prepare a schedule of cost of goods manufactured of the company's income statement for the year.
Transcribed Image Text:Problem 2-24 Schedule of Cost of Goods Manufactured; Income Statement; Cost Behaviour [LO1, LO2, LO3, LO4, LO5] Carlton Manufacturing Company provided the following details about operations in February: $178, 000 41, 800 35, 700 61, 400 3, 800 47, 300 29, 200 19, 100 4, 800 23, 200 115, 500 Purchases of raw materials Maintenance, factory Direct labour Depreciation, factory equipment Indirect materials, factory Selling and administrative salaries Utilities, factory Sales commissions Insurance, factory equipment Depreciation, sales equipment Advertising expenses Rent, factory building The company also provided details regarding the balances in the inventory accounts at the beginning and end of the month as follows: Beginning of Month $ 41, 000 End of Month Raw materials Work in process Finished goods 30, 400 23, 000 ? Raw materials used in production cost $192,920, total overhead costs for the year were $219,920, the goods available for sale totalled $424,000, and the cost of goods sold totalled $365,500. Required: 1-a. Prepare a schedule of cost of goods manufactured of the company's income statement for the year.
CARLTON MANUFACTURING Schedule of Cost of Goods Manufactured Direct materials: Raw materials inventory, beginning $ 41,000 Add: Purchases of raw materials 178,000 Raw materials available for use 219,000 Deduct: Raw materials inventory, ending 26,080 Raw materials used in production $ 192,920 Direct labour Manufacturing overhead: Depreciation, factory equipment 35,700 61,400 Indirect materials, factory 3,800 Insurance, factory 4,800 Maintenance, factory 41,800 Rent, factory building 78,920 29,200 Utilities, factory Total overhead costs Total manufacturing costs Add: Work in process inventory, beginning 219,920 448,540 30,400 478,940 Deduct: Work in process inventory, ending Cost of goods manufactured $ 478,940
Transcribed Image Text:CARLTON MANUFACTURING Schedule of Cost of Goods Manufactured Direct materials: Raw materials inventory, beginning $ 41,000 Add: Purchases of raw materials 178,000 Raw materials available for use 219,000 Deduct: Raw materials inventory, ending 26,080 Raw materials used in production $ 192,920 Direct labour Manufacturing overhead: Depreciation, factory equipment 35,700 61,400 Indirect materials, factory 3,800 Insurance, factory 4,800 Maintenance, factory 41,800 Rent, factory building 78,920 29,200 Utilities, factory Total overhead costs Total manufacturing costs Add: Work in process inventory, beginning 219,920 448,540 30,400 478,940 Deduct: Work in process inventory, ending Cost of goods manufactured $ 478,940
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
Recommended textbooks for you
Financial & Managerial Accounting
Financial & Managerial Accounting
Accounting
ISBN:
9781337119207
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Financial & Managerial Accounting
Financial & Managerial Accounting
Accounting
ISBN:
9781285866307
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS