NTIN Chapter 2 HW Question 1 (of 8) value 2.00 points Ten fowng data from the ju
ID: 2478885 • Letter: N
Question
NTIN Chapter 2 HW Question 1 (of 8) value 2.00 points Ten fowng data from the just completed year are taken from the accounting records of Eccles The foll Company Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs S 654,000 $ 88,000 133,000 108,000 $ 40,000 $ 203,000 S 225,000 Inventories Raw materials Work in process Finished goods Beginning End of of YearYear S 8,600 10.200 $ 5,000 20,000 $ 80,000 25,400 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials (Input all amounts as positive values.) Eccles Company O Ask me anything 10Explanation / Answer
Answer:
Unadjusted COGS 462000 Add: underapplied overhead 22000 Adjusted cost of goods sold 484000 Eccles company Income statement Sales 654000 COGS 484000 Gross margin 170000 Selling and administrative exp Selling expenses 108000 Administrative exp 40000 148000 Net income 22000Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.