Several items are omitted from the income statement and cost of goods manufactured statement data for...

 
 

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Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of May 1 2 Materials inventory, May 1 3 Materials inventory, May 31 4 Materials purchased s Cost of direct materials used in production 6 Direct labor 7 Factory overhead Total manufacturing costs incurred in May 9 Total manufacturing costs 10 Work in process inventory, May 1 11 Work in process inventory, May 31 12 Cost of goods manufactured Rainier Company Yakima Company $100,000.00 $48,200.00 50,000.00 710,000.00 (a) 950,000.00 938,500.00 2,860,000.00 1,800,000.00 (b) 5,998,500.00 400,000.00 382,000.00 (a) (b) 446,000.00 2,484,200.00 2,660,600.00 176,400.00 (c) 2,491,500.00 13 Finished goods inventory, May 1 14 Finished goods inventory, May 31 15 Sales 16 Cost of goods sold 17 Gross profit 18 Operating expenses 19 Net income 615,000.00 596,500.00 9,220,000.00 (d) (e) 1,000,000.00 (1) Required: a. Determine the amounts of the missing items, identifying them by letter. b. Prepare Yakima Company's statement of cost of goods manufactured for May. c. Prepare Yakima Company's income statement for May. 190,000.00 (d) 4,550,000.00 2,470,000.00 (e) (f) 1,500,000.00 a. Determine the amounts of the missing items, identifying them by letter. Additional Instruction Letter a. b. C. d. e. f. $ $ $ $ $ $ Rainier Company $ $ $ $ $ $ Yakima Company b. Prepare Yakima Company's statement of cost of goods manufactured for May. Statement of Cost of Goods Manufactured Instructions 1 2 Direct materials: 3 4 - Yakima Company Statement of Cost of Goods Manufactured (Label) 1 2 Cost of goods sold: 3 5 6 7 8 9 10 Yakima Company Income Statement (Label) Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of May 1 2 Materials inventory, May 1 3 Materials inventory, May 31 4 Materials purchased s Cost of direct materials used in production 6 Direct labor 7 Factory overhead Total manufacturing costs incurred in May 9 Total manufacturing costs 10 Work in process inventory, May 1 11 Work in process inventory, May 31 12 Cost of goods manufactured Rainier Company Yakima Company $100,000.00 $48,200.00 50,000.00 710,000.00 (a) 950,000.00 938,500.00 2,860,000.00 1,800,000.00 (b) 5,998,500.00 400,000.00 382,000.00 (a) (b) 446,000.00 2,484,200.00 2,660,600.00 176,400.00 (c) 2,491,500.00 13 Finished goods inventory, May 1 14 Finished goods inventory, May 31 15 Sales 16 Cost of goods sold 17 Gross profit 18 Operating expenses 19 Net income 615,000.00 596,500.00 9,220,000.00 (d) (e) 1,000,000.00 (1) Required: a. Determine the amounts of the missing items, identifying them by letter. b. Prepare Yakima Company's statement of cost of goods manufactured for May. c. Prepare Yakima Company's income statement for May. 190,000.00 (d) 4,550,000.00 2,470,000.00 (e) (f) 1,500,000.00 a. Determine the amounts of the missing items, identifying them by letter. Additional Instruction Letter a. b. C. d. e. f. $ $ $ $ $ $ Rainier Company $ $ $ $ $ $ Yakima Company b. Prepare Yakima Company's statement of cost of goods manufactured for May. Statement of Cost of Goods Manufactured Instructions 1 2 Direct materials: 3 4 - Yakima Company Statement of Cost of Goods Manufactured (Label) 1 2 Cost of goods sold: 3 5 6 7 8 9 10 Yakima Company Income Statement (Label)

Answer rating: 100% (QA)

Part a Missing Items a Materials inventory May 31 Rainier Company 100000 May 1 950000 purchased 9385... View the full answer