Question: I need answers to the following problem for a study guide: Would really appreciated for it to be typed out rather than a written photo

I need answers to the following problem for a study guide: Would really appreciated for it to be typed out rather than a written photo answer as I can't understand some peoples handwriting very well. Thank you in advance.

Please don't submit answers to only a couple parts as I need answers for all shown.

Use the following information to complete the Manufacturing Statement for ABC Co:

Advertising Expense - $65,000

Amortization of patents - $13,000

Bad debts expense - $25,000

Depreciation--office equipment - $36,000

Depreciation--factory equipment - $35,000

Depreciation--factory building - $100,000

Direct labor - $200,000

Factory supervision - $69,000

Factory supplies used - $20,000

Factory utilities - $89,000

Goods in process inventory, Dec. 31, 2002 - $7,000

Goods in process inventory, Dec. 31, 2003 - $8,500

Indirect labor - $43,500

Interest expense - $1,500

Misc. expense - $6,000

Property taxes--factory equipment - $11,000

Raw materials inventory, Dec. 31, 2002 - $14,000

Raw materials inventory, Dec. 31, 2003 - $12,300

Raw materials purchases - $56,000

Salaries expense - $150,000

Sales - $1,530,000

Fill out the following for ABC Co. Manufacturing Statement For the Year Ended December 31, 2003

(Direct Materials):

Raw materials inventory, Dec. 31, 2002 -

Raw materials purchases -

Raw materials available for use -

Raw materials inventory, Dec. 31, 2003 -

Direct materials used -

Direct Labor -

(Factory Overhead):

|

|

|

|

|

|

|

|

|

Total factory overhead costs -

Total manufacturing costs -

Add goods in process inventory, Dec. 31, 2002 -

Total cost of goods in process -

Deduct goods in process inventory, Dec. 31, 2003 -

Cost of Goods Manufactured -

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!