Using the following data, compute (1) The cost of goods manufactured and (2) The cost of goods
Question:
(1) The cost of goods manufactured and
(2) The cost of goods sold for both Jahmed Company and KabiroCompany.
Transcribed Image Text:
Jahmed Company Company Beginning finished goods inventory Beginning goods in process inventory21000 $15,000 $15,000 21,500 13.000 27,000 9,500 Rental cost on factory equipment .. .33.000 Direct labor Ending finished goods inventory. Ending goods in process inventory 22.000 Ending raw materials inventory10,500 Factory utilities. Factory supplies used.. General and administrative expenses Indirect labor... 19,500 2,000 21,000 9,400 17,000 0,000 3,000 0.600 9.660 3.500 47.000 41,000 Raw materials purchases Sales salaries .24,000 49,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 95% (21 reviews)
Jahmed Company Kabiro Company 1 Cost Of Goods Manufactured Direct materials Beginning raw materials ...View the full answer
Answered By
Joseph Mwaura
I have been teaching college students in various subjects for 9 years now. Besides, I have been tutoring online with several tutoring companies from 2010 to date. The 9 years of experience as a tutor has enabled me to develop multiple tutoring skills and see thousands of students excel in their education and in life after school which gives me much pleasure. I have assisted students in essay writing and in doing academic research and this has helped me be well versed with the various writing styles such as APA, MLA, Chicago/ Turabian, Harvard. I am always ready to handle work at any hour and in any way as students specify. In my tutoring journey, excellence has always been my guiding standard.
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Managerial Accounting questions
-
Compute the Cost of Goods Manufactured and Cost of Goods Sold for Blue Sea Company for the most recent year using the amounts described next. Assume that Raw Materials Inventory contains only...
-
Compute the Cost of Goods Manufactured and Cost of Goods Sold for Striker Company for the most recent year using the amounts described next. Assume that Raw Materials Inventory contains only...
-
Compute the cost of goods manufactured and cost of goods sold for Quality Aquatic Company for the most recent year using the amounts described next. Assume that raw materials inventory contains only...
-
A 1-m3 insulated tank contains air at 1 MPa, 560 K. The tank is now discharged through a small convergent nozzle to the atmosphere at 100 kPa. The nozzle has an exit area of2 x 10-5 m2. a. Find the...
-
At the beginning of 2014, Becky Corporation discovered that depreciation expense in the years prior to 2014 was incorrectly calculated and recorded. For the years prior to 2014, total depreciation...
-
Perform the indicated operations, expressing all answers in simplest rectangular form. 3+-4 4-j
-
Sol & Nieve is a sporting good and outdoor gear retailer that operates in North America and Central America. In an attempt to characterize its stores and reassess Sol & Nieves supply chain...
-
(Revenue Recognition and Matching Principle) After the presentation of your report on the examination of the financial statements to the board of directors of Bones Publishing Company, one of the new...
-
I believe that an increase in the use of robotics will cause both a loss of jobs and a shifting of jobs. Unfortunately, I belive that the loss of jobs will be a greater number than the amount of jobs...
-
It is expected that aerobic square dancing during the 30-minute recess at an elementary school will help fight childhood obesity. a. State the research question. b. Identify the control and...
-
Compute cost of goods sold for each of these two companies for the year ended December 31,2009. Computer MerchandisingManufacturing Log Homes 3 Beginning inventory 4 Merchandise 5 Finished goods s...
-
For each of the following account balances for a manufacturing company, place a ( in the appropriate column indicating that it appears on the balance sheet, the income statement, the manufacturing...
-
Pierce Corp. has a December 31 year end. It received its property tax assessment of $24,000 on April 30 for the calendar year. The property tax bill is payable on July 15. Prepare the journal entries...
-
In an organizational setting, how can you utilize knowledge on diversity, justice and cultural competency to help create greater justice and equity?
-
Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. The company has two manufacturing departments-Molding and Fabrication. It started, completed, and sold...
-
2 If logx2 = 1.2a and logx3 = 1.5a, in terms of a, find the answer to logx 12
-
David has borrowed $600 from the bank. The bank is charging him an interest of 18.39% compounded monthly. David would like to pay back the entire loan with a single payment 3 years from today. How...
-
A projectile is fired from the ground, reaches a maximum height of 71.2 m and lands a distance of 74.9 m away from the launch point. What was the projectile s launch velocity? 57.9 m/s, 30.1 degrees...
-
Discuss the steps managers in businesses can take to ensure that the insight available from different marketing platforms is actionable.
-
Prove that the mean heat capacities C P H and C P S are inherently positive, whether T > T 0 or T < T 0 . Explain why they are well defined for T = T 0 .
-
Prepare year-end adjusting journal entries for M&R Company as of December 31 for each of the following separate cases. Entries can draw from the following partial chart of accounts: Cash; Accounts...
-
Mintz agrees to pay Bogg and Heyer $10,000 each for a one-third (33 13 %) interest in the Bogg and Heyer partnership. Immediately prior to Mintzs admission, each partner had a $30,000 capital...
-
The Red, White & Blue partnership was begun with investments by the partners as follows: Red, $175,000; White, $220,000; and Blue, $205,000. The operations did not go well, and the partners...
-
Gilson and Lotts company is organized as a partnership. At the prior year-end, partnership equity totaled $300,000 ($200,000 from Gilson and $100,000 from Lott). For the current year, partnership net...
-
Chang Company provided the following data for this year: Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory...
-
ces On January 1, 2024, the Mason Manufacturing Company began construction of a building to be used as its office headquarters. The building was completed on September 30, 2025. Expenditures on the...
-
Primare Corporation provided the following data for last month's manufacturing operations. Purchases of raw materials Indirect materials used in production Direct labor Manufacturing overhead applied...
Study smarter with the SolutionInn App