Problem 19-04A a-c (Part Level Submission) (Video) The following data were taken from the records of...

     

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Problem 19-04A a-c (Part Level Submission) (Video) The following data were taken from the records of Waterway Company for the fiscal year ended June 30, 2020. Raw Materials Inventory 7/1/19 Raw Materials Inventory 6/30/20 Finished Goods Inventory 7/1/19 Finished Goods Inventory 6/30/20 Work in Process Inventory 7/1/19 Work in Process Inventory 6/30/20 Direct Labor Indirect Labor Accounts Receivable (a) $51,100 46,000 98,200 26,100 26,800 22,300 147,750 26,560 27,100 Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Plant Manager's Salary Factory Property Taxes Factory Repairs Raw Materials Purchases Cash $4,700 19,000 29,100 9,350 564,000 4,700 65,600 9,810 1,600 97,500 35,600 Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct materials.) WATERWAY COMPANY Cost of Goods Manufactured Schedule For the Year Ended June 30, 2020 + > |> |> > |>F Work in Process Inventory, July 1, 2019 Direct Materials Raw Materials Inventory, July 1, 2019 Raw Materials Purchases Total Raw Materials Available for Use Direct Materials Used Less + Raw Materials Inventory, June 30, 2020 + Direct Labor Manufacturing Overhead Plant Manager's Salary Factory Property Taxes - Factory Repairs → + → 51,100 97,500 148600 46,000 65,600 9,810 1,600 $ 102600 147,750 26,800 Indirect Labor Factory Insurance Factory Machinery Depreciation Factory Utilities Total Manufacturing Overhead Total Manufacturing Costs Total Cost of Work in Process Inventory → Less + Work in Process Inventory, June 30, 2020 + Cost of Goods Manufactured SHOW LIST OF ACCOUNTS 26,560 SHOW SOLUTION 4,700 19,000 Click if you would like to Show Work for this question: Open Show Work 29,100 156370 $ 406720 433520 22,300 411220 Your answer is partially correct. Try again. Prepare an income statement through gross profit. Sales Revenue Less Net Sales Cost of Goods Sold Cost of Goods Manufactured Sales Discounts Less = Cost of Goods Available for Sale X Cost of Goods Sold Gross Profit WATERWAY COMPANY (Partial) Income Statement For the Year Ended June 30, 2020 - $ X x X 88460 4,700 X $ X CUS UT Cost of Goods Manufactured Cost of Goods Available for Sale Less Cost of Goods Sold Gross Profit Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS X Problem 19-04A a-c (Part Level Submission) (Video) The following data were taken from the records of Waterway Company for the fiscal year ended June 30, 2020. Raw Materials Inventory 7/1/19 Raw Materials Inventory 6/30/20 Finished Goods Inventory 7/1/19 Finished Goods Inventory 6/30/20 Work in Process Inventory 7/1/19 Work in Process Inventory 6/30/20 Direct Labor Indirect Labor Accounts Receivable (a) $51,100 46,000 98,200 26,100 26,800 22,300 147,750 26,560 27,100 Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Plant Manager's Salary Factory Property Taxes Factory Repairs Raw Materials Purchases Cash $4,700 19,000 29,100 9,350 564,000 4,700 65,600 9,810 1,600 97,500 35,600 Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct materials.) WATERWAY COMPANY Cost of Goods Manufactured Schedule For the Year Ended June 30, 2020 + > |> |> > |>F Work in Process Inventory, July 1, 2019 Direct Materials Raw Materials Inventory, July 1, 2019 Raw Materials Purchases Total Raw Materials Available for Use Direct Materials Used Less + Raw Materials Inventory, June 30, 2020 + Direct Labor Manufacturing Overhead Plant Manager's Salary Factory Property Taxes - Factory Repairs → + → 51,100 97,500 148600 46,000 65,600 9,810 1,600 $ 102600 147,750 26,800 Indirect Labor Factory Insurance Factory Machinery Depreciation Factory Utilities Total Manufacturing Overhead Total Manufacturing Costs Total Cost of Work in Process Inventory → Less + Work in Process Inventory, June 30, 2020 + Cost of Goods Manufactured SHOW LIST OF ACCOUNTS 26,560 SHOW SOLUTION 4,700 19,000 Click if you would like to Show Work for this question: Open Show Work 29,100 156370 $ 406720 433520 22,300 411220 Your answer is partially correct. Try again. Prepare an income statement through gross profit. Sales Revenue Less Net Sales Cost of Goods Sold Cost of Goods Manufactured Sales Discounts Less = Cost of Goods Available for Sale X Cost of Goods Sold Gross Profit WATERWAY COMPANY (Partial) Income Statement For the Year Ended June 30, 2020 - $ X x X 88460 4,700 X $ X CUS UT Cost of Goods Manufactured Cost of Goods Available for Sale Less Cost of Goods Sold Gross Profit Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS X

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