Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of May: 1 Rainier Company Yakima Company 2 Materials inventory, May 1 3 Materials inventory, May 31 4 Materials purchased 5 Cost of direct materials used in production 6 Direct labor 7 Factory overhead 8 Total manufacturing costs incurred in May $281,120.00 $176,500.00 ما (a) 177,500.00 713,200.00 340,300.00 751,600.00 (a) 1,058,600.00 (b) 328,000.00 179,200.00 (b) 1,034,000.00 9 Total manufacturing costs 2,678,800.00 1,477,500.00 10 Work in process inventory, May 1 540,600.00 443,500.00 11 Work in process inventory, May 31 451,000.00 (c)

Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of May: 1 Rainier Company Yakima Company 2 Materials inventory, May 1 3 Materials inventory, May 31 4 Materials purchased 5 Cost of direct materials used in production 6 Direct labor 7 Factory overhead 8 Total manufacturing costs incurred in May $281,120.00 $176,500.00 ما (a) 177,500.00 713,200.00 340,300.00 751,600.00 (a) 1,058,600.00 (b) 328,000.00 179,200.00 (b) 1,034,000.00 9 Total manufacturing costs 2,678,800.00 1,477,500.00 10 Work in process inventory, May 1 540,600.00 443,500.00 11 Work in process inventory, May 31 451,000.00 (c)

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter1: Introduction To Managerial Accounting

Section: Chapter Questions

Problem 4PB: Several items are omitted from the income statement and cost of goods manufactured statement data...

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Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of May: 1 Rainier Company Yakima Company 2 Materials inventory, May 1 $281,960.00 $177,500.00 3 Materials inventory, May 31 (a) 175,500.00 4 Materials purchased 713,600.00 341,100.00 5 Cost of direct materials used in production 752,000.00 (a) 6 Direct labor 1,060,000.00 (b) 7 Factory overhead 327,800.00 179,000.00 8 Total manufacturing costs incurred in May (b) 1,036,000.00 9 Total manufacturing costs 2,681,600.00 1,479,000.00 10 Work in process inventory, May 1 541,800.00 443,000.00 11 Work in process inventory, May 31 450,800.00 (c) 12 Cost of goods manufactured (c) 1,024,500.00 13 Finished goods inventory, May 1 479,800.00 204,500.00 14 Finished goods inventory, May 31 495,400.00 (d) 15…
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Manufacturing Income Statement, Statement of Cost of Goods Manufactured Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of December: OnCompany OffCompany Materials inventory, December 1 $74,780 $94,220 Materials inventory, December 31 (a) 106,470 Materials purchased 189,940 (a) Cost of direct materials used in production 200,410 (b) Direct labor 281,920 212,000 Factory overhead 87,490 105,530 Total manufacturing costs incurred in December (b) 609,600 Total manufacturing costs 713,400 713,400 Work in process inventory, December 1 143,580 227,070 Work in process inventory, December 31 121,140 (c) Cost of goods manufactured (c) 603,950 Finished goods inventory, December 1 126,380 105,530 Finished goods inventory, December 31 132,360 (d) Sales 1,102,260 942,200 Cost of goods sold (d) 609,600 Gross profit…
Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of May. 1 Rainier Company Yakima Company 2 Materials inventory, May 1 $100,000.00 $48,200.00 3 Materials inventory, May 31 (a) 50,000.00 4 Materials purchased 950,000.00 710,000.00 5 Cost of direct materials used in production 938,500.00 (a) 6 Direct labor 2,860,000.00 (b) 7 Factory overhead 1,800,000.00 446,000.00 8 Total manufacturing costs incurred during May (b) 2,484,200.00 9 Total manufacturing costs 5,998,500.00 2,660,600.00 10 Work in process inventory, May 1 400,000.00 176,400.00 11 Work in process inventory, May 31 382,000.00 (c) 12 Cost of goods manufactured (c) 2,491,500.00 13 Finished goods inventory, May 1 615,000.00 190,000.00 14 Finished goods inventory, May 31 596,500.00 (d) 15…
Manufacturing Income Statement, Statement of Cost of Goods Manufactured Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of December: OnCompany OffCompany Materials inventory, December 1 $75,740 $103,010 Materials inventory, December 31 (a) 116,400 Materials purchased 192,380 (a) Cost of direct materials used in production 202,980 (b) Direct labor 285,540 231,770 Factory overhead 88,620 115,370 Total manufacturing costs incurred in December (b) 666,470 Total manufacturing costs 722,560 722,560 Work in process inventory, December 1 145,420 248,250 Work in process inventory, December 31 122,700 (c) Cost of goods manufactured (c) 660,290 Finished goods inventory, December 1 128,000 115,370 Finished goods inventory, December 31 134,060 (d) Sales 1,116,410 1,030,100 Cost of goods sold (d) 666,470 Gross…