SCHEDULE OF COST OF GOODS MANUFACTURED Prepare a schedule of cost of goods manufactured for Tomas Company
Question:
SCHEDULE OF COST OF GOODS MANUFACTURED Prepare a schedule of cost of goods manufactured for Tomas Company for the year ended June 30, 20-2. Information to prepare the schedule is as follows:
Work in process, July 1, 20-1 ....$ 6,400
Materials inventory, July 1, 20-1 .....4,875
Materials purchases ........68,950
Direct labor .............140,300
Actual factory overhead .......85,225
Work in process, June 30, 20-2 ....7,700
Materials inventory, June 30, 20-2 .....6,950
Indirect materials charged to production..3,600
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 69% (13 reviews)
Work in process July 1 201 Direct materials Tomas Company Sc...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
Prepare the 2015 schedule of cost of goods manufactured for Barton Company using the following information. Direct materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $190,500...
-
Prepare the 2017 schedule of cost of goods manufactured for Barton Company using the following information. Direct materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ....
-
Of all the times this hard drive could crash, it had to be now, Linda cried. How can I finish the June financial reports without all the information? I knew I should have backed up the disk last...
-
You require inventory and accounts receivable collateral for all C&I loans. You have a guideline of an advance rate of 70% for customer receivables of less than 60 days of age. Older receivables get...
-
Jose Ruiz manages a car dealer's service department. His department is organized as a cost center. Costs for a recent quarter are shown below. List the costs that would appear on a responsibility...
-
Explain how to draw two parallel lines using only straightedge and a protractor.
-
Table B. 15 presents data on air pollution and mortality. Use the all-possibleregressions selection on the air pollution data to find appropriate models for these data. Perform a thorough analysis of...
-
Under what circumstances would a multiple- priority waiting system be appropriate?
-
Aaron, Inc. loans Baker Company $ 4 5 , 0 0 0 on an 8 % note receivable due in six months. When Aaron is repaid, what is the total amount received?
-
There are 2 shinobis with chakra levels 5 and 10 respectively and the desired sum of chakra levels is utmost 15 Starting with ke0, suy of chakra levels after attack max(5-0,0) + max(10- 0,0) 5+10 15....
-
ADJUSTING ENTRIES INCLUDING ADJUSTMENT FOR UNDERAPPLIED/ OVERAPPLIED FACTORY OVERHEAD Prepare the December 31 adjusting journal entries for Johnson Company. Data are as follows: (a) Factory overhead...
-
ADJUSTING JOURNAL ENTRIES Prepare the December 31 adjusting journal entries for Hanna Company. Data for the end of the year adjustments are as follows: Factory overhead to be applied to work in...
-
What two methods may be used in preparing a SCF?
-
14) A managerial accountant should NOT disclose confidential information to an outside party (such as a newspaper) unless legally obligated to do so. 15) If a managerial accountant were NOT keeping...
-
What is the annual dividend on TXS preferred stock? If investors require a return of 8% on this Bock and the d dividend is payable 1 year from now, what is the price of TXS preferred stock? Suppose...
-
How firms estimate their cost of capital: The WACC for a firm is 13.00 percent. You know that the firm's cost of debt capital is 10 percent and the cost of equity capital is 20% What proportion of...
-
Many cafes are putting sensors on the bottom of cups to help alert the wait staff that a customer needs a refill. Would you introduce this technology to the cafe? If so, are there any concerns with...
-
When Sarah James husband died, she became the beneficiary of a $100,000 life insurance policy. Instead of taking the money in a lump sum, she elects to receive a monthly stipend over a period of 20...
-
Write a CompStack() function which takes pointer to two stack as an argument and return true or false depending upon whether all the elements of the stack are equal or not. You are given isEqual(int,...
-
Given the table below, about how much force does the rocket engine exert on the 4.0 kg payload? Distance traveled with rocket engine firing (m) Payload final velocity (m/s) 500 320 490 310 1020 450...
-
Falcon Ltd (FL) provides the following details about its financial results: Equity share capital 50,00,000, Current years profit 20,00,000, Average amount paid as equity dividend in the past three...
-
Why is it necessary to adjust the Merchandise Inventory account under a periodic inventory system?
-
A merchandising company shows $ 8,842 in the Supplies account on the preadjusted trial balance. After taking inventory of the actual supplies, the company still owns $ 3,638. a. How much was used or...
-
A merchandising company shows $ 8,842 in the Supplies account on the preadjusted trial balance. After taking inventory of the actual supplies, the company still owns $ 3,638. a. How much was used or...
-
How do change interventions leverage advanced methodologies such as appreciative inquiry, design thinking, and complexity science to foster a holistic understanding of change dynamics, unlock latent...
-
what extent do change interventions leverage digital technologies, data analytics, and artificial intelligence to enhance change effectiveness, monitor change progress, and facilitate real-time...
-
Consider a project that requires spending of $15,000 immediately and generates $6,000 per year for the next 4 years (assume each $6,000 comes at the end of each year).What is the NPV of this project?...
Study smarter with the SolutionInn App