This Website Has Been Moved to a New Link


Loading

P19-4A The following data were taken from the records of Stellar Manufacturing Company

Price: $2.50


The following data were taken from the records of Stellar Manufacturing Company
for the fiscal year ended June 30, 2010.


Raw materials Factory insurance  4,600
Inventory 7/1/13   48,000  Factory machinery
Raw materials    Depreciation  16,000
 Inventory 6/30/14   39,600  Factory utilities  27,600
Finished goods Office utilities expense  8,650
Inventory 7/1/13   96,000  Sales revenue  554,000
Finished goods  Sales discounts  4,200
 Inventory 6/30/14   95,900  Plant manager's salary   29,000
 
Work in Process  Factory property taxes  9,600
Inventory 7/1/13   19,800  Factory repairs  1,400
Work in Process  Raw materials purchases  96,400
 Inventory 6/30/14   18,600  Cash  32,000
Direct Labor   149,250
Indirect Labor   24,460
Accounts Receivable   27,000

Instructions
(a) Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct
materials.)
(b) Prepare an income statement through gross profit.
(c) Prepare the current assets section of the balance sheet at June 30, 2010

No comments:

Post a Comment