The following information is available for Robstown Corporation for 20Y8: Inventories January 1 December 31 Materials $78,750 $94,450 Work in process 108,600 96,800 Finished goods 113,750 109,100 December 31 Advertising expense $ 69,000 Depreciation expense-office equipment 22,750 Depreciation expense-factory equipment 14,860 Direct labor 184,350 Heat, light, and power-factory 5,950 Indirect labor 24,600 Materials purchased 122,200 Office salaries expense 77,750 Property taxes-factory 4,170 Property taxes-office building 13,200 Rent expense-factory 6,675 Sales 862,000 Sales salaries expense 138,500 Supplies-factory 5,000 Miscellaneous costs-factory 5,280 Required: a. Prepare the 20Y8 statement of cost of goods manufactured. For those boxes in which you must enter subtracted or negative numbers use a minus sign.* b. Prepare the 20Y8 income statement. *Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries.
The following information is available for Robstown Corporation for 20Y8: Inventories January 1 December 31 Materials $78,750 $94,450 Work in process 108,600 96,800 Finished goods 113,750 109,100 December 31 Advertising expense $ 69,000 Depreciation expense-office equipment 22,750 Depreciation expense-factory equipment 14,860 Direct labor 184,350 Heat, light, and power-factory 5,950 Indirect labor 24,600 Materials purchased 122,200 Office salaries expense 77,750 Property taxes-factory 4,170 Property taxes-office building 13,200 Rent expense-factory 6,675 Sales 862,000 Sales salaries expense 138,500 Supplies-factory 5,000 Miscellaneous costs-factory 5,280 Required: a. Prepare the 20Y8 statement of cost of goods manufactured. For those boxes in which you must enter subtracted or negative numbers use a minus sign.* b. Prepare the 20Y8 income statement. *Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries.
Chapter5: Process Costing
Section: Chapter Questions
Problem 13PB: Selected information from Hernandez Corporation shows the following: Prepare journal entries to...
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Question
The following information is available for Robstown Corporation for 20Y8:
|
Inventories
|
January 1
|
December 31
|
| Materials | $78,750 | $94,450 |
| Work in process | 108,600 | 96,800 |
| Finished goods | 113,750 | 109,100 |
|
|
December 31
|
| Advertising expense | $ 69,000 |
| 22,750 | |
| Depreciation expense-factory equipment | 14,860 |
| Direct labor | 184,350 |
| Heat, light, and power-factory | 5,950 |
| Indirect labor | 24,600 |
| Materials purchased | 122,200 |
| Office salaries expense | 77,750 |
| Property taxes-factory | 4,170 |
| Property taxes-office building | 13,200 |
| Rent expense-factory | 6,675 |
| Sales | 862,000 |
| Sales salaries expense | 138,500 |
| Supplies-factory | 5,000 |
| Miscellaneous costs-factory | 5,280 |
| Required: | |||
| a. Prepare the 20Y8 statement of cost of goods manufactured. For those boxes in which you must enter subtracted or negative numbers use a minus sign.* | |||
b. Prepare the 20Y8 income statement.
|
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