A. compute the cost of direct materials used during the year. B. Compute the Cost of goods
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A. compute the cost of direct materials used during the year.
B. Compute the Cost of goods manufactured.
C. Compute Operating income (income from operations).
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The following information pertains to Zillow Manufacturing Company for year 2019. Sales revenue Direct material purchases Direct labor cost Administrative salaries Sales commissions Sales salaries - Materials handling Indirect labor cost $1,800,000 500,000 250,000 162,000 135,000 81,000 18,000 69,000 Advertising expense 34,000 Coolants & lubricants - factory equip. Repairs and maintenance of factory 45,000 Utilities- $54,000 of it was for factory 65,000 Leasing costs factory equipment Depreciation factory equipment Depreciation-office equipment Fire insurance factory equipment Property taxes factory equipment Depreciation-factory building Finished Goods Inventory, 1/1/19 Finished Goods Inventory, 12/31/19 RM Materials Inventory, 1/1/19 RM Materials Inventory, 12/31/19 Work-in-Process Inventory, 1/1/19 Work-in-Process Inventory, 12/31/19 88,000 112,000 50,000 56,000 150,000 77,000 35,000 50,000 24,000 21,600 6,000 18,000 15,000 The following information pertains to Zillow Manufacturing Company for year 2019. Sales revenue Direct material purchases Direct labor cost Administrative salaries Sales commissions Sales salaries - Materials handling Indirect labor cost $1,800,000 500,000 250,000 162,000 135,000 81,000 18,000 69,000 Advertising expense 34,000 Coolants & lubricants - factory equip. Repairs and maintenance of factory 45,000 Utilities- $54,000 of it was for factory 65,000 Leasing costs factory equipment Depreciation factory equipment Depreciation-office equipment Fire insurance factory equipment Property taxes factory equipment Depreciation-factory building Finished Goods Inventory, 1/1/19 Finished Goods Inventory, 12/31/19 RM Materials Inventory, 1/1/19 RM Materials Inventory, 12/31/19 Work-in-Process Inventory, 1/1/19 Work-in-Process Inventory, 12/31/19 88,000 112,000 50,000 56,000 150,000 77,000 35,000 50,000 24,000 21,600 6,000 18,000 15,000
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Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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