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Use the information provided below to prepare the Cost of Good Manufactured Schedule:Bravo had the following costs as of Dec 31, 2010. Enter the correct values in the Green shaded cells.
Table CMaterials used in baking bread ?Factory Supervisor Salaries 20,000Bakers wages $32,000Rent for Executive Offices 36,000Sales Commissions 10000Utilities used in the factory 5000Advertising costs 12000Delivery truck costs 25000Depreciation on bake ovens 500Interest on bank loan 250Beginning Inventory Materials 10,000Beginning Work in Process 8000Ending Inventory Materials 4000Inventory Purchases 26000Ending Work in Process 2500Other Overhead costs 1200Beginning Finished Goods Inventory 7500Ending Finished Goods Inventory 6000Rent for Factory 7500
Cost of Goods Manufactured ScheduleBeginning Work In Process ?Materials ?Beginning Inventory Materials ?Plus: Purchases ?Materials Available ?Less: Ending Inventory Materials ?Materials Used ?Direct Labor ?OverheadFactory Rent ?Depreciation on bake ovens ?Utilities used in Factory ?Other Overhead costs ?Total Overhead ?Total Manufacturing Costs ?Total Work in Process ?Less: Ending Work in Process ?Cost of Goods Manufactured ?Goods Available for Sale ?Less: Ending Finished Goods Inventory ?Cost of Goods Sold Schedule ?
The general manager of Qantas had two concerns: the company's worsening cash position ($3000 cash and No bank loan at the end of 2011, No cash and a $7,000 bank loan at the end of 2012) and an inadequate level of net profit. (According to General ..
Prepare the necessary December 31 entry under (a) the cost-of-goods-sold method and (b) the loss method.
What is the effect of error on the accounting equation and what is the ending balance in stockholders equity
Prepare journal entries for each of the following transactions. Prepare a corrected Balance Sheet for the Keyser Soze Corporation following Generally Accepted Accounting Principles, and in proper accounting three-column format.
Prepare First on Alerts bank reconciliation at December 31 - The bank statement also shows a $30 service charge and $20 of interest revenue that First on Alert earned on its bank balance.
The 2007 and 2008 balance sheets for Alan Jack and Sons showed net accounts receivable of $10,000 and $14,000, respectively, and inventory of $8,000 and $6,000, respectively. Their 2008 income statement showed net sales of $109,500 and cost of goo..
Gokey Inc. bases its manufacturing overhead budget on budgeted direct labor-hours. The variable overhead rate is $5.10 per direct labor-hour.
What are some of the new tools information technology has given that contribute to unethical behavior?
Sara Douglas purchased 30 shares of WXY stock for $210, and on October 29, 2013, she purchased 90 additional shares for $900. On November 28, 2013, she sold 48 shares, which could not be specifically identified, for $480, and on December 8, 2013.
Budgeting is an important internal activity. Preparing budgets involve forecasting sales and estimating costs. Prepare a flexible budget for next year for the company of your choice. The budget needs to be realistic and based on corporate and econ..
Describe the advantages of a sole proprietorship and a limited liability corporation - client choose an LLC or not? Explain your rationale.
The indirect method of preparing the statement of cash flows, how is each of the items treated - compute Hedgehogs merchandise available for sale for 2011
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