Ch 14 Homework edugen.wileyplus.com WileyPLUS cheg account - Yaho Search Results
ID: 2399265 • Letter: C
Question
Ch 14 Homework edugen.wileyplus.com WileyPLUS cheg account - Yaho Search Results Yahoo Search R. Kimmel, Accounting, 6e Help I RESOURCES CALCULATOR ue July 7thProblem 14 se 14-5 ise 14-6 w 14-3 1.5 -8 (Part ission) 1A (Part ission) 4A (Part Problem 14-4A (Part Level Submission) The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2017 Raw Materials Inventory 7/1/16 Raw Materials Inventory 6/30/17 Finished Goods Tnventory 7/1/16 Finished Goods Inventory 6/30/17 Work in Process Inventory 7/1/16 Work in Process Inventory 6/30/17 Direct Labor Indirect Labor Accounts Receivable $48,100Factory Insurance $5,600 18,600 29,200 8,850 561,400 4,900 64,400 9,910 2,100 99,200 40,700 6,200 Factory Machinery Depreciation 99,600Factory Utilities 21,600Office Utilities Expense 27,700Sales Revenue 25,300Sales Discounts 144,150Plant Manager's Salary 24,960 Factory Property Taxes 9,900Factory Repairs ts by Study Raw Materials Purchases Cash Your answer is partially correct. Try again. Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct materials.) CLARKSON COMPANY Cost of Goods Manufactured Schedule For the Year Ended June 30, 2017 27,700 Work in Process Inventory, July 1, 2016 Direct Materials $48,100 Raw Materials Inventory, July 1, 2016Explanation / Answer
Particulars
Amount
Amount
Direct materials used:
Raw material purchases
$99,200
Add: Opening raw materials
$48,100
Less: Closing raw material
($46,200)
Total materials used
$1,01,100
Direct labour cost
$1,44,150
Indirect costs:
Indirect labour
$24,960
Factory insurance
$5,600
Factory machine depreciation
$18,600
Factory utilities
$29,200
Office utility expenses
$8,850
Plant managers salary
$64,400
Factory property taxes
$9,910
Factory repairs
$2,100
Total indirect expenses
$1,63,620
Cost of goods manufactured
$4,08,870