2 Morrow Inc. has the following information for the current year: 800 Opening inventory (units) Production...

 

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2 Morrow Inc. has the following information for the current year: 800 Opening inventory (units) Production (units) 7,800 900 $310.00 Ending inventory (units) Sales price (per unit) The company's accounting records provide the following information for the year: Description Customer service dept. Costs Administrative costs, head office Maintenance manager salary (factory) Factory insurance Depreciation (head office) Salary, president Direct Labour Depreciation (factory) Raw material purchases Indirect materials Indirect labour Factory utilities Opening WIP Inventory Closing WIP Inventory Opening raw materials inventory Closing raw materials inventory Opening Finished Goods Inventory Closing Finished Goods Inventory Amount (5) 102,300 107,000 88.400 34,900 165,100 160,400 267,400 213,900 428,400 88,400 109.300 55,800 4,700 9,000 9,900 8,200 16,300 21,900 Using the above information, develop a Schedule of Cost of Goods Manufactured, Schedule of Cost of Goods Sold, and an Income Statement. Use the information to answer the following questions. What is the total Direct Materials Used from the Schedule of Cost of Goods Manufactured? What is the total Direct Labour from the Schedule of Cost of Goods Manufactured? What is the total Manufacturing Overhead costs from the Schedule of Cost of Goods Manufactured? 2 What is the total Cost of Goods Manufactured from the Schedule of Cost of Goods Manufactured? N What is the total Cost of Goods Sold from the Cost of Goods Sold Statement? N What is the total Operating Income, also called Income before Income Taxes, from the Income Statement? N 2 Morrow Inc. has the following information for the current year: 800 Opening inventory (units) Production (units) 7,800 900 $310.00 Ending inventory (units) Sales price (per unit) The company's accounting records provide the following information for the year: Description Customer service dept. Costs Administrative costs, head office Maintenance manager salary (factory) Factory insurance Depreciation (head office) Salary, president Direct Labour Depreciation (factory) Raw material purchases Indirect materials Indirect labour Factory utilities Opening WIP Inventory Closing WIP Inventory Opening raw materials inventory Closing raw materials inventory Opening Finished Goods Inventory Closing Finished Goods Inventory Amount (5) 102,300 107,000 88.400 34,900 165,100 160,400 267,400 213,900 428,400 88,400 109.300 55,800 4,700 9,000 9,900 8,200 16,300 21,900 Using the above information, develop a Schedule of Cost of Goods Manufactured, Schedule of Cost of Goods Sold, and an Income Statement. Use the information to answer the following questions. What is the total Direct Materials Used from the Schedule of Cost of Goods Manufactured? What is the total Direct Labour from the Schedule of Cost of Goods Manufactured? What is the total Manufacturing Overhead costs from the Schedule of Cost of Goods Manufactured? 2 What is the total Cost of Goods Manufactured from the Schedule of Cost of Goods Manufactured? N What is the total Cost of Goods Sold from the Cost of Goods Sold Statement? N What is the total Operating Income, also called Income before Income Taxes, from the Income Statement? N

Answer rating: 100% (QA)

Answer Direct Materials used 43010000 Direct labour 26740000 Manufacturing overhead 59070000 Cost of ... View the full answer