From the data given below, prepare a statement of cost of goods manufactured for the Blanche...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
From the data given below, prepare a statement of cost of goods manufactured for the Blanche Manufacturing Company for the month of June, 20--. The wording for the statement is given, you must enter the numbers. Account Balances Finished Goods Work in Process Materials June 1 June 30 $20,000 $23,000 $2,000 $7,000 $ 19,000 $ 21,000 June Transactions (a) Purchased materials at a cost of $56,000. (b) Issued indirect materials to the factory, cost $3,000. (c) Total salaries and wages earned for the month were $38,000, of which $6,000 was for indirect factory labor and $4,000 was for office salaries. (d) Factory overhead for the month, other than indirect materials and indirect labor, was $16,000. From the data given below, prepare a statement of cost of goods manufactured for the Blanche Manufacturing Company for the month of June, 20--. The wording for the statement is given, you must enter the numbers. Account Balances Finished Goods Work in Process Materials June 1 June 30 $20,000 $23,000 $2,000 $7,000 $ 19,000 $ 21,000 June Transactions (a) Purchased materials at a cost of $56,000. (b) Issued indirect materials to the factory, cost $3,000. (c) Total salaries and wages earned for the month were $38,000, of which $6,000 was for indirect factory labor and $4,000 was for office salaries. (d) Factory overhead for the month, other than indirect materials and indirect labor, was $16,000.
Expert Answer:
Answer rating: 100% (QA)
To prepare a statement of cost of goods manufactured we first need to calculate various components l... View the full answer
Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
Posted Date:
Students also viewed these accounting questions
-
The Fashion Rack has a monthly accounting period. The firms chart of accounts is shown below and on the next page. The journals used to record transactions are the sales journal, purchases journal,...
-
The post-closing trial balance of Custer Products, Inc. on April 30 is reproduced as follows: During May, the following transactions took place: a. Purchased raw materials at a cost of $45,000 and...
-
Which of the following variable types can be used in a switch statement under some circumstances? (Choose three.) A. An enumerated type B. StringBuilder C. Byte D. Double E. var F. Exception.
-
Suppose that the yields-to-maturity on one-, two-, and three-year bonds are 10, 11, and 12 per cent, respectively. On each bond, the coupon rate is 12 per cent. Answer the following questions...
-
Rewrite Programming Exercise 8.37? to store pairs of each state and its capital in a map. Your program should prompt the user to enter a state and should display the capital for the state. Write a...
-
Diageo North America, Inc., the owner of the Bulleit brand family of whiskeys, sued competitor W.J. Deutsch & Sons Ltd. for allegedly infringing upon the trade dress of Diageos Bulleit bottles....
-
Variable manufacturing overhead variance analysis The French Bread Company bakes baguettes for distribution to upscale grocery stores. The company has two direct-cost categories: direct materials and...
-
How do taxes and regulation impact the equity of budgeting decisions and as a public manager/administrator/analyst, how would one balance the need for taxation and the mandate to provide equitable...
-
Based on a 2018 study, the average elapsed time between when a user navigates to a website on a mobile device until its main content is available was 14.6 seconds. This is more than a 20% increase...
-
Question 2. Let a be a constant and suppose that f(x) 0 a) Find a. b) Find the cdf of X. c) Find P(16 x 81). d) Find E[X]. e) Find V[X]. f) Let Y = 1/X. Find the cdf of Y. 1 is a pdf of some...
-
How do you calculate the amount of life insurance some one needs? What are the methods Available? How do they differ?
-
#1: Researching SCM Software - 30 marks (25% of Final Grade) Students are to research any SCM (supply chain management) software provider about that organization with regards to the following...
-
Discuss the differences between investors who are risk-averse, risk-neutral, and risk-loving.
-
Technology has made team collaboration easier and more effective, but assembling the right mix of people and skills for a project remains a challenge for many organizations. Scenario: training...
-
A business isn't going to be in business if it doesn't have and retain customers. Every customer makes purchases, and those purchases may be for products, services, consulting, and much more. In a...
-
The Tax Cuts and Jobs Act was signed on December 22, 2017, and produced some of the most significant impacts in tax law in over 30 years. Use the Internet or the Strayer University Online Library (...
-
The executor of Gina Purcells estate has recorded the following information: Assets discovered at death (at fair value): Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ....
-
What does cross- referencing mean in the posting process?
-
Between the end of one month and the 15th day of the next month, the balance in the employers business bank account has been getting smaller and smaller. An employee prepares the next payroll and...
-
ManCo Stereo uses the periodic inventory system. Following are the data for its inventories on January 1, the beginning of the fiscal year; purchases during the year; and the inventory count at...
-
The expected effect on market efficiency of opening a securities market to trading by foreigners would be to: A. Decrease market efficiency. B. Leave market efficiency unchanged. C. Increase market...
-
Suppose that a speculative-grade bond issuer announces, just before bond markets open, that it will default on an upcoming interest payment. In the announcement, the issuer confirms various reports...
-
1. An analyst estimates that a securitys intrinsic value is lower than its market value. The security appears to be: A. Undervalued. B. Fairly valued. C. Overvalued. 2. A market in which assets...
Study smarter with the SolutionInn App