The following information pertains to the most recent quarter at Precious Production Limited Purchases of raw materials Raw materials inventory, beginning Raw materials inventory, ending Depreciation, factory Insurance, factory Direct labour Maintenance, factory Administrative expenses Sales Utilities, factory Supplies, factory Selling expenses Indirect labour. Work in process inventory, beginning Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending Required: 1. Prepare a schedule of cost of goods manufactured. $ 388,500 47,600 77,500 215,500 21,900 253,300 127,600 295,200 2,256,000 117,500 4,190 337,100 273,300 28,950 123,800 42,850 171,400
The following information pertains to the most recent quarter at Precious Production Limited Purchases of raw materials Raw materials inventory, beginning Raw materials inventory, ending Depreciation, factory Insurance, factory Direct labour Maintenance, factory Administrative expenses Sales Utilities, factory Supplies, factory Selling expenses Indirect labour. Work in process inventory, beginning Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending Required: 1. Prepare a schedule of cost of goods manufactured. $ 388,500 47,600 77,500 215,500 21,900 253,300 127,600 295,200 2,256,000 117,500 4,190 337,100 273,300 28,950 123,800 42,850 171,400
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 1E: Inventory Accounts for a Manufacturing Company Fujita Company produces a single product. Costs...
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