Smith Corp., a lamp manufacturer, provided the following information for the year ended December 31, 2018:...
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Smith Corp., a lamp manufacturer, provided the following information for the year ended December 31, 2018: (Click the icon to view account balances.) (Click the icon to view other information.) Requirements 1. Use the information to prepare a schedule of cost of goods manufactured. 2. What is the unit product cost if Smith manufactured 2,190 lamps for the year? ✪ Data Table Balances: Direct Materials Work-in-Process Inventory Finished Goods Inventory Beginning Ending 50,000 $ 26,000 110,000 69,000 44,000 45,000 $ X Data Table Other information: Depreciation, plant building and equipment $ Direct materials purchases Insurance on plant Sales salaries Repairs and maintenance-plant Indirect labor Direct labor Administrative expenses 20,000 156,000 30,000 49,000 12,000 30,000 125,000 55,000 X Smith Corp., a lamp manufacturer, provided the following information for the year ended December 31, 2018: (Click the icon to view account balances.) (Click the icon to view other information.) Requirements 1. Use the information to prepare a schedule of cost of goods manufactured. 2. What is the unit product cost if Smith manufactured 2,190 lamps for the year? ✪ Data Table Balances: Direct Materials Work-in-Process Inventory Finished Goods Inventory Beginning Ending 50,000 $ 26,000 110,000 69,000 44,000 45,000 $ X Data Table Other information: Depreciation, plant building and equipment $ Direct materials purchases Insurance on plant Sales salaries Repairs and maintenance-plant Indirect labor Direct labor Administrative expenses 20,000 156,000 30,000 49,000 12,000 30,000 125,000 55,000 X
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To prepare a schedule of cost of goods manufactured we need to calculate the total manufacturing cos... View the full answer
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133255584
4th Edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
Posted Date:
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