Managerial Accounting 1B – Ch14

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Managerial Accounting 1B – Ch14

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Managerial Accounting 1B cH14

$16.00

Description

Managerial Accounting 1B

Financial
and Managerial Accounting

Chapter 14

1.

Exercise 14-8 Cost of goods sold computation L.O. P1














































































































Century
Merchandising





New
Homes
Manufacturing





Beginning inventory




















Merchandise





$



250,000















Finished
goods













$



500,000







Cost of purchases







460,000















Cost of goods
manufactured















886,000







Ending inventory





















Merchandise







150,000















Finished
goods















144,000















Compute cost of goods sold for
each of these two companies for the year ended December 31, 2011. (Omit the “$” sign in your response.)





















Cost
of goods sold



Century Merchandising





New Homes Manufacturing








Exercise 14-9 Cost of goods manufactured and cost of goods sold
computation L.O. P1, P2

[The following information applies to the questions displayed
below.]






Using the following data,




































































































































































































Canyon
Company





Rossings
Company





Beginning finished
goods inventory





$



14,000







$



18,450







Beginning goods in
process inventory







16,500









21,950







Beginning raw
materials inventory







9,250









11,000







Rental cost on factory
equipment







29,000









24,750







Direct labor







21,000









37,000







Ending finished goods
inventory







19,650









15,300







Ending goods in
process inventory







24,000









18,000







Ending raw materials
inventory







7,300









9,200







Factory utilities







11,000









14,000







Factory supplies used







10,200









5,200







General and
administrative expenses







23,000









45,000







Indirect labor







3,250









9,660







Repairs—Factory
equipment







6,780









3,500







Raw materials
purchases







35,000









54,000







Sales salaries







52,000









48,000






















Section Break



Difficulty: Hard





Exercise 14-9 Cost
of goods manufactured and cost of goods sold computation L.O. P1, P2



Learning Objective:
14-P2 Prepare a manufacturing statement and explain its purpose and links to
financial statements.




2.

Exercise 14-9 Part 1







1.



Compute the cost of goods
manufactured for both Canyon Company and Rossings Company.
(Omit the “$” sign in your response.)



















Canyon
Company



Rossings
Company



Cost of goods manufactured










rev: 03-04-11

3.Exercise 14-9 Part 2







2.



Compute cost of goods sold for
both Canyon Company and Rossings Company.
(Omit
the “$” sign in your response.)



















Canyon
Company



Rossings
Company



Cost of goods sold










4.

Exercise 14-11 Manufacturing statement preparation L.O. P2






Given the following selected
account balances of Randa Company.







Prepare its manufacturing
statement for the year ended on December 31, 2011. (Input all amounts as positive values. Omit the
“$” sign in your response.)


5.

Exercise 14-12 Income statement preparation L.O. P2






Following are the selected account
balances of Randa Company:







Prepare an income statement for
Randa Company (a manufacturer). Assume that its cost of goods manufactured is
$546,390. (Input all amounts as positive
values. Omit the “$” sign in your response.)


Problem 14-8A Manufacturing and income statements; inventory
analysis L.O. P2

[The following information applies to the questions displayed below.]






The following calendar year-end
information is taken from the December 31, 2011, adjusted trial balance and
other records of Plaza Company.









Section Break



Problem 14-8A
Manufacturing and income statements; inventory analysis L.O. P2




6.Problem 14-8A Part-1






Required:








1.



Prepare the company’s 2011
manufacturing statement.
(Input all amounts
as positive values. Omit the “$” sign in your response.)


7.Problem 14-8A Part-2







2.



Prepare the company’s 2011 income
statement that reports separate categories for (a) selling expenses and (b)
general and administrative expenses.
(Input
all amounts as positive values. Omit the “$” sign in your
response.)


 

 

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