Factory costs and availability of balance sheets
| Given the following selected account balances of Shanta Company. |
| Sales | $ | 1,250,000 |
| Raw materials inventory, Dec. 31, 2012 | 37,000 | |
| Goods in process inventory, Dec. 31, 2012 | 53,900 | |
| Finished goods inventory, Dec. 31, 2012 | 62,750 | |
| Raw materials purchases | 175,600 | |
| Direct labor | 225,000 | |
| Factory computer supplies used | 17,840 | |
| Indirect labor | 47,000 | |
| Repairs—Factory equipment | 5,250 | |
| Rent cost of factory building | 57,000 | |
| Advertising expense | 94,000 | |
| General and administrative expenses | 129,300 | |
| Raw materials inventory, Dec. 31, 2013 | 42,700 | |
| Goods in process inventory, Dec. 31, 2013 | 41,500 | |
| Finished goods inventory, Dec. 31, 2013 | 67,300 | |
|
|
||
| Prepare its manufacturing statement for the year ended on December 31, 2013. |
| Following are the selected account balances of Shanta Company: |
| Sales | $ | 1,250,000 |
| Raw materials inventory, Dec. 31, 2012 | 37,000 | |
| Goods in process inventory, Dec. 31, 2012 | 53,900 | |
| Finished goods inventory, Dec. 31, 2012 | 62,750 | |
| Raw materials purchases | 175,600 | |
| Direct labor | 225,000 | |
| Factory computer supplies used | 17,840 | |
| Indirect labor | 47,000 | |
| Repairs—Factory equipment | 5,250 | |
| Rent cost of factory building | 57,000 | |
| Advertising expense | 94,000 | |
| General and administrative expenses | 129,300 | |
| Raw materials inventory, Dec. 31, 2013 | 42,700 | |
| Goods in process inventory, Dec. 31, 2013 | 41,500 | |
| Finished goods inventory, Dec. 31, 2013 | 67,300 | |
|
|
||
| Prepare an income statement for Shanta Company (a manufacturer). Assume that its cost of goods manufactured is $534,390.
|
| Widmer Watercraft’s predetermined overhead rate for year 2013 is 200% of direct labor. Information on the company’s production activities during May 2013 follows. |
| a. | Purchased raw materials on credit, $260,000. |
| b. | Paid $127,800 cash for factory wages. |
| c. | Paid $15,750 cash to a computer consultant to reprogram factory equipment. |
| d. | Materials requisitions record use of the following materials for the month. |
LOOKING FOR THIS ASSIGNMENT OR A SIMILAR ONE? WE HAVE HAD A GOOD SUCCESS RATE ON THIS PAPER! ORDER WITH US TODAY FOR QUALITY WORK AND GET A DISCOUNT!
Disclaimer:
All types of paper that Discount Writers provides is only for the purpose of assistance! No text, paper, assignment, discussion would be similar with another student therefore guaranteeing Uniqueness and can be used with proper references only!
More tools: Better Grades: Choose your Homework Help:
Assignment Help: We would write your papers according to the instructions provided and guarantee you timely work
Entire Online Class Help: We are here for you and we would do your entire Class work from discussions, assignments, Replies, Exams and Quizzes at a Cost
Exam/ Quiz Help: We have a team of writers who specialize on exams from any specific field and we would give you an A+ Grade!
