Cost of Goods Manufactured and Sold Anglin Company, a manufacturing firm, has supplied the following information from its accounting records for the last calendar year:
Direct labor cost $495,900
Purchases of direct materials 378,890
Freight-in on materials 7,500
Factory supplies used 18,500
Factory utilities 54,000
Commissions paid 78,983
Factory supervision and indirect labor 165,000
Advertising 145,600
Materials handling 16,900
Work-in-process inventory, January 1 201,000
Work-in-process inventory, December 31 117,400
Direct materials inventory, January 1 37,200
Direct materials inventory, December 31 34,600
Finished goods inventory, January 1 59,200
Finished goods inventory, December 31 62,700
Answers: 3
Business, 22.06.2019 10:00
mary's baskets company expects to manufacture and sell 30,000 baskets in 2019 for $5 each. there are 4,000 baskets in beginning finished goods inventory with target ending inventory of 4,000 baskets. the company keeps no work-in-process inventory. what amount of sales revenue will be reported on the 2019 budgeted income statement?
Answers: 2
Business, 22.06.2019 23:50
Juniper company, inc. uses a perpetual inventory system. the company purchased $9,750 of merchandise on august 7 with terms 1/10, n/30. on august 11, it returned $1,500 worth of merchandise. on august 16, it paid the full amount due. the correct journal entry to record the payment on august 16 is:
Answers: 1
Cost of Goods Manufactured and Sold Anglin Company, a manufacturing firm, has supplied the following...
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