This Website Has Been Moved to a New Link


Loading

Moxie Company 2014

Price: $2.50


The following data were taken from the records of Moxie Company for the year
ended December 31, 2014.


Raw materials   Factory insurance  7,400
Inventory 1/1/14  47,000   Factory machinery
Raw materials   Depreciation  7,700
Inventory 12/31/14  44,200   Factory utilities  12,900
Finished goods   Office utilties expense  8,600
Inventory 1/1/14  85,000   Sales revenue  465,000
Finished goods    Sales discounts  2,500
Inventory 12/31/14  57,800   Plant Manager's salary  60,000
Work in Process    Factory property taxes  6,100
Inventory  1/1/14  9,500   Factory repairs  800
Work in Process       Raw materials purchases  62,500
Inventory 12/31/14  8,000   Cash  18,000
Direct Labor   145,100
Indirect Labor   18,100
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 December 31.

No comments:

Post a Comment