Accounting (Text Only)
26th Edition
ISBN: 9781285743615
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Chapter 18, Problem 18.12EX
To determine
Cost of goods
Cost of goods manufactured refers to the cost incurred for a making a product, that are available for sales at the end of the accounting period.
The amount of missing items in the statement of cost of goods manufactured.
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Two items are omitted from each of the following three lists of cost of goods manufactured statement data. Determine the amounts of the missing items, identifying them by letter.
Cost of Goods Manufactured for a Manufacturing Company
Two items are omitted from each of the following three lists of cost of goods manufactured statement data. Determine the amounts of the missing items, identifying them by letter.
Work in process inventory, August 1
$2,600
$22,900
(e)
Total manufacturing costs incurred during August
17,400
(c)
134,600
Total manufacturing costs
(a)
$267,900
$146,100
Work in process inventory, August 31
3,800
56,300
(f)
Cost of goods manufactured
(b)
(d)
$122,700
a.
$
b.
$
c.
$
d.
$
e.
$
f.
$
Which one of the following is NOT correct about manufacturing statement?
Select one:
a. It includes direct and indirect labor cost.
b. It reports Cost of Goods Manufactured and Cost of Goods Sold.
c. It shows the financial position of a company on a specific date.
d. It includes the adjustments for the opening and closing stocks of WIP and Finished Goods
Chapter 18 Solutions
Accounting (Text Only)
Ch. 18 - What are the major differences between financial...Ch. 18 - a. Differentiate between a department with line...Ch. 18 - What manufacturing cost term is used to describe...Ch. 18 - Distinguish between prime costs and conversion...Ch. 18 - What is the difference between a product cost and...Ch. 18 - Name the three inventory accounts for a...Ch. 18 - In what order should the three inventories of a...Ch. 18 - What three Categories of manufacturing costs are...Ch. 18 - For a manufacturer, what is the description of the...Ch. 18 - Prob. 10DQ
Ch. 18 - Management process Three phases of the management...Ch. 18 - Management process Three phases of the management...Ch. 18 - Direct materials, direct labor, and factory...Ch. 18 - Direct materials, direct labor, and factory...Ch. 18 - Prime and conversion costs Identify the following...Ch. 18 - Prime and conversion costs Identify the following...Ch. 18 - Product and period costs Identify the following...Ch. 18 - Product and period costs Identify the following...Ch. 18 - Cost of goods sold, cost of goods manufactured...Ch. 18 - Cost of goods sold, cost of goods manufactured...Ch. 18 - Classifying costs as materials, labor, or factory...Ch. 18 - Classifying costs as materials, labor, or factory...Ch. 18 - Prob. 18.3EXCh. 18 - Classifying costs as product or period costs For...Ch. 18 - Concepts and terminology From the choices...Ch. 18 - Concepts and terminology From the choices...Ch. 18 - Classifying costs in a service company A partial...Ch. 18 - Classifying costs The following report was...Ch. 18 - Financial statements of a manufacturing firm The...Ch. 18 - Manufacturing company balance sheet Partial...Ch. 18 - Prob. 18.11EXCh. 18 - Prob. 18.12EXCh. 18 - Cost of goods manufactured for a manufacturing...Ch. 18 - Prob. 18.14EXCh. 18 - Statement of cost of goods manufactured for a...Ch. 18 - Prob. 18.16EXCh. 18 - Cost flow relationships The following information...Ch. 18 - Uses of managerial accounting in a service company...Ch. 18 - Classifying costs The following is a list of costs...Ch. 18 - Classifying costs The following is a list of costs...Ch. 18 - Cost classifications for a service company A...Ch. 18 - Manufacturing income statement, statement of cost...Ch. 18 - Statement of cost of goods manufactured and income...Ch. 18 - Classifying costs The following is a list of costs...Ch. 18 - Classifying costs The following is a list of costs...Ch. 18 - Cost classifications for a service company A...Ch. 18 - Manufacturing income statement, statement of cost...Ch. 18 - Statement of cost of goods manufactured and income...Ch. 18 - Prob. 18.1CPCh. 18 - Financial versus managerial accounting The...Ch. 18 - Managerial accounting in the management process...Ch. 18 - Classifying costs Geek Gut Company provides...Ch. 18 - Using managerial accounting Information The...
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- Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of December: Instructions 1. For both companies, determine the amounts of the missing items (a) through (f), identifying them by letter. 2. Prepare Yakima Companys statement of cost of goods manufactured for December. 3. Prepare Yakima Companys income statement for December.arrow_forwardManufacturing income statement, statement of cost of goods manufactured Several items are omitted from the income statement and cost of goodsmanufactured statement data for two different companies for the monthof May. Instructions1. Determine the amounts of the missing items, identifying them byletter. 2. Prepare Yakima Company's statement of cost of goods manufacturedfor May.S. Prepare Yakima Company's income statement for May.arrow_forwardCost of Goods Manufactured for a Manufacturing Company Two items are omitted from each of the following three lists of cost of goods manufactured statement data. Determine the amounts of the missing items, identifying them by letter. Work in process inventory, August 1 $3,600 $29,900 (e) Total manufacturing costs incurred during August 23,800 (c) 175,500 Total manufacturing costs (a) $349,800 $190,500 Work in process inventory, August 31 5,200 73,500 (f) Cost of goods manufactured (b) (d) $160,000 a. $fill in the blank 1 b. $fill in the blank 2 c. $fill in the blank 3 d. $fill in the blank 4 e. $fill in the blank 5 f. $fill in the blank 6arrow_forward
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