4. Calculate the unadjusted cost of goods sold (COGS) for the year

5. Calculate the adjusted cost of goods sold (COGS) for the year, and record the corresponding adjusting J/E. Assuming we close the entire MOH difference to COGS.

6. Assume Weber Co’s sales to customers this year totaled $81,000. Also, Weber Co’s period costs for the year totaled $8,000. Create a simple, traditional format income statement for Weber Co. for the year, stopping at Operating Profit.

Transcribed Image Text:

Use the following info. for Weber Company, which has a calendar year – fiscal year (Jan. 1* to Dec. 31"). Balance as of- Balance as of Dec. 31 $65,000 $30,000 $63,000- Account Jan. 14 $85,000 $20,000 $49,000 RM Inv. WIP Inv. FG Inv.e Materials started into production during the year DL cost incurred during the year MOH Applied/Allocated - during the year In addition to indirect materials, other actual MOH costs totaled $8.000 this year. $5,000, of which $10,000 are indirect materials $20,000 $15,000- 1. Calculate the amount of materials purchased this year and record the corresponding J/E (journal entry).+ 2. Calculate the total current manufacturing costs for the year. 3. Calculate the cost of goods manufactured (COGM) this year and record the corresponding JE. ttt Use the following info. for Weber Company, which has a calendar year – fiscal year (Jan. 1* to Dec. 31"). Balance as of- Balance as of Dec. 31 $65,000 $30,000 $63,000- Account Jan. 14 $85,000 $20,000 $49,000 RM Inv. WIP Inv. FG Inv.e Materials started into production during the year DL cost incurred during the year MOH Applied/Allocated - during the year In addition to indirect materials, other actual MOH costs totaled $8.000 this year. $5,000, of which $10,000 are indirect materials $20,000 $15,000- 1. Calculate the amount of materials purchased this year and record the corresponding J/E (journal entry).+ 2. Calculate the total current manufacturing costs for the year. 3. Calculate the cost of goods manufactured (COGM) this year and record the corresponding JE. ttt

Answer rating: 100% (QA)

Answer Theu e fore Raw material urchased this year is 3000 J Amount of materials PurChased this Year ... View the full answer