The following data were taken from the cost records of the Bolly Company, for production of...
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The following data were taken from the cost records of the Bolly Company, for production of 100,000 units of finished goods, in the month of January 2022: Depreciation, factory 30,000 equipment. Depreciation, office 7,000 equipment . Supplies, factory. . 1,500 Maintenance, factory 20,000 equipment. Utilities, factory 8,000 Salesmen's salary & commissions 30,000 Indirect labor.. 54,500 Rent, factory 70,000 building.. Direct labor cost. 80,000 Advertising 90,000 expense.. Direct materials inventories as at 1 January 2022: 23,000 Purchases and freight-in of direct materials 125,000 Direct materials inventories as at 31 January 2022: 25,000 Work-in-process as at 1 January 2022: 33,000 Work-in-process as at 31 January 2022 34,000 Required: 1. Calculate the cost of goods sold, for each unit. 2. Prepare the Income Statement for the month of January 2022, if the selling price for each unit is $6.10. 3. Prepare the extracts of Current Assets in the Balance Sheet as at 31 January 2022 The following data were taken from the cost records of the Bolly Company, for production of 100,000 units of finished goods, in the month of January 2022: Depreciation, factory 30,000 equipment. Depreciation, office 7,000 equipment . Supplies, factory. . 1,500 Maintenance, factory 20,000 equipment. Utilities, factory 8,000 Salesmen's salary & commissions 30,000 Indirect labor.. 54,500 Rent, factory 70,000 building.. Direct labor cost. 80,000 Advertising 90,000 expense.. Direct materials inventories as at 1 January 2022: 23,000 Purchases and freight-in of direct materials 125,000 Direct materials inventories as at 31 January 2022: 25,000 Work-in-process as at 1 January 2022: 33,000 Work-in-process as at 31 January 2022 34,000 Required: 1. Calculate the cost of goods sold, for each unit. 2. Prepare the Income Statement for the month of January 2022, if the selling price for each unit is $6.10. 3. Prepare the extracts of Current Assets in the Balance Sheet as at 31 January 2022 The following data were taken from the cost records of the Bolly Company, for production of 100,000 units of finished goods, in the month of January 2022: Depreciation, factory 30,000 equipment. Depreciation, office 7,000 equipment . Supplies, factory. . 1,500 Maintenance, factory 20,000 equipment. Utilities, factory 8,000 Salesmen's salary & commissions 30,000 Indirect labor.. 54,500 Rent, factory 70,000 building.. Direct labor cost. 80,000 Advertising 90,000 expense.. Direct materials inventories as at 1 January 2022: 23,000 Purchases and freight-in of direct materials 125,000 Direct materials inventories as at 31 January 2022: 25,000 Work-in-process as at 1 January 2022: 33,000 Work-in-process as at 31 January 2022 34,000 Required: 1. Calculate the cost of goods sold, for each unit. 2. Prepare the Income Statement for the month of January 2022, if the selling price for each unit is $6.10. 3. Prepare the extracts of Current Assets in the Balance Sheet as at 31 January 2022 The following data were taken from the cost records of the Bolly Company, for production of 100,000 units of finished goods, in the month of January 2022: Depreciation, factory 30,000 equipment. Depreciation, office 7,000 equipment . Supplies, factory. . 1,500 Maintenance, factory 20,000 equipment. Utilities, factory 8,000 Salesmen's salary & commissions 30,000 Indirect labor.. 54,500 Rent, factory 70,000 building.. Direct labor cost. 80,000 Advertising 90,000 expense.. Direct materials inventories as at 1 January 2022: 23,000 Purchases and freight-in of direct materials 125,000 Direct materials inventories as at 31 January 2022: 25,000 Work-in-process as at 1 January 2022: 33,000 Work-in-process as at 31 January 2022 34,000 Required: 1. Calculate the cost of goods sold, for each unit. 2. Prepare the Income Statement for the month of January 2022, if the selling price for each unit is $6.10. 3. Prepare the extracts of Current Assets in the Balance Sheet as at 31 January 2022 The following data were taken from the cost records of the Bolly Company, for production of 100,000 units of finished goods, in the month of January 2022: Depreciation, factory 30,000 equipment. Depreciation, office 7,000 equipment . Supplies, factory. . 1,500 Maintenance, factory 20,000 equipment. Utilities, factory 8,000 Salesmen's salary & commissions 30,000 Indirect labor.. 54,500 Rent, factory 70,000 building.. Direct labor cost. 80,000 Advertising 90,000 expense.. Direct materials inventories as at 1 January 2022: 23,000 Purchases and freight-in of direct materials 125,000 Direct materials inventories as at 31 January 2022: 25,000 Work-in-process as at 1 January 2022: 33,000 Work-in-process as at 31 January 2022 34,000 Required: 1. Calculate the cost of goods sold, for each unit. 2. Prepare the Income Statement for the month of January 2022, if the selling price for each unit is $6.10. 3. Prepare the extracts of Current Assets in the Balance Sheet as at 31 January 2022 The following data were taken from the cost records of the Bolly Company, for production of 100,000 units of finished goods, in the month of January 2022: Depreciation, factory 30,000 equipment. Depreciation, office 7,000 equipment . Supplies, factory. . 1,500 Maintenance, factory 20,000 equipment. Utilities, factory 8,000 Salesmen's salary & commissions 30,000 Indirect labor.. 54,500 Rent, factory 70,000 building.. Direct labor cost. 80,000 Advertising 90,000 expense.. Direct materials inventories as at 1 January 2022: 23,000 Purchases and freight-in of direct materials 125,000 Direct materials inventories as at 31 January 2022: 25,000 Work-in-process as at 1 January 2022: 33,000 Work-in-process as at 31 January 2022 34,000 Required: 1. Calculate the cost of goods sold, for each unit. 2. Prepare the Income Statement for the month of January 2022, if the selling price for each unit is $6.10. 3. Prepare the extracts of Current Assets in the Balance Sheet as at 31 January 2022
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Related Book For
Intermediate Accounting
ISBN: 978-0324592375
17th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
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