Hillbrand Company has the following information for the current year: Opening inventory (units) Production (units) 1,000...

   

Transcribed Image Text:

Hillbrand Company has the following information for the current year: Opening inventory (units) Production (units) 1,000 12,000 1,400 $250.00 Ending inventory (units) Sales price (per unit) The company's accounting records provide the following information for the year Description Product quality inspector Depreciation (factory) Salary, sales manager Accounting dept costs Direct Labour Depreciation (head office) Assembly line supervisor's salary Property taxes (factory) Indirect labour Administrative costs, head office Indirect materials Raw material purchases Opening Finished Goods Inventory Closing Finished Goods Inventory Opening raw materials inventory Closing raw materials inventory Opening WIP Inventory Closing WIP Inventory Amount (5) 70.300 280.800 103.700 104,700 350.800 216,600 94,600 33,000 143,400 140,300 115,900 502,000 21,400 28,800 13,000 10,700 6,200 11.900 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? M What is the total Manufacturing Overhead costs from the Schedule of Cost of Goods Manufactured? N 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? 4 What is the total Operating Income, also called Income before Income Taxes, from the Income Statement? N Hillbrand Company has the following information for the current year: Opening inventory (units) Production (units) 1,000 12,000 1,400 $250.00 Ending inventory (units) Sales price (per unit) The company's accounting records provide the following information for the year Description Product quality inspector Depreciation (factory) Salary, sales manager Accounting dept costs Direct Labour Depreciation (head office) Assembly line supervisor's salary Property taxes (factory) Indirect labour Administrative costs, head office Indirect materials Raw material purchases Opening Finished Goods Inventory Closing Finished Goods Inventory Opening raw materials inventory Closing raw materials inventory Opening WIP Inventory Closing WIP Inventory Amount (5) 70.300 280.800 103.700 104,700 350.800 216,600 94,600 33,000 143,400 140,300 115,900 502,000 21,400 28,800 13,000 10,700 6,200 11.900 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? M What is the total Manufacturing Overhead costs from the Schedule of Cost of Goods Manufactured? N 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? 4 What is the total Operating Income, also called Income before Income Taxes, from the Income Statement? N

Answer rating: 100% (QA)

To calculate the required values well start by constructing the Schedule of Cost of Goods Manufactur... View the full answer