The following data were taken from the records of Larkspur Company for the fiscal year ended June 30, 2022 Raw Materials Inventory 7/1/21 Raw Materials Inventory 6/30/22 Finished Goods Inventory 7/1/21 Finished Goods Inventory 6/30/22 Work in Process Inventory 7/1/21 Work in Process Inventory 6/30/22 Direct Labor Indirect Labor $57.500 41.500 96.300 22.100 21,300 28.200 142.650 26.760 Accounts Receivable Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Factory Manager's Salary Factory Property Taxes Factory Repairs Raw Materials Purchases Cash $29.900 4,900 17,000 31,100 8,550 561,300 4,300 65,100 9,610 1,500 99,400 42,100
The following data were taken from the records of Larkspur Company for the fiscal year ended June 30, 2022 Raw Materials Inventory 7/1/21 Raw Materials Inventory 6/30/22 Finished Goods Inventory 7/1/21 Finished Goods Inventory 6/30/22 Work in Process Inventory 7/1/21 Work in Process Inventory 6/30/22 Direct Labor Indirect Labor $57.500 41.500 96.300 22.100 21,300 28.200 142.650 26.760 Accounts Receivable Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Factory Manager's Salary Factory Property Taxes Factory Repairs Raw Materials Purchases Cash $29.900 4,900 17,000 31,100 8,550 561,300 4,300 65,100 9,610 1,500 99,400 42,100
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter1: Introduction To Cost Accounting
Section: Chapter Questions
Problem 9P: Glasson Manufacturing Co. produces only one product. You have obtained the following information...
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Question
List of accounts
Accounts Receivable
Administrative Expenses
Cash
Direct Labor
Factory Depreciation
Factory Insurance
Factory Manager's Salary
Factory Property Taxes
Factory Repairs
Factory Utilities
Finished Goods Inventory
Income Summary
Income Tax Expense
indirect Labor
Manufacturing Summary
Prepaid Expense
Raw Materials Inventory
Raw Materials Purchases
Retained Earnings
Sales
Selling Expenses
Work in Process Inventory
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