MidtermPractice_Chp2

MidtermPractice_Chp2 - The Montana Corporation has provided...

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Unformatted text preview: The Montana Corporation has provided the following data concerning last period Purchase of raw materials 30,000 Indirect materials included in MOH 5,000 Direct labor 58,000 Manufacturing overhead applied to WIP 87,000 Manufacturing overhead incurred 91,000 Advertising expense 35,000 Administrative salaries expense 40,000 Sales 350,000 Inventories: Beginning Ending Raw materials 12,000 18,000 Work in process (WIP) 56,000 65,000 Finished goods (FG) 35,000 42,000 1. Prepare a schedule of cost of goods manufactured. 2. Calulcate the amount of underapplied or overapplied overhead. 3. Prepare a cost of goods sold. 4. Calculate the net operating income for the period. Purchase of raw materials 30,000 Indirect materials included in MOH 5,000 Direct labor 58,000 Manufacturing overhead applied to WIP 87,000 Manufacturing overhead incurred 91,000 Advertising expense 35,000 Administrative salaries expense 40,000 Sales 350,000 Inventories: Beginning Ending Raw materials 12,000 18,000 Work in process (WIP)...
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This note was uploaded on 04/16/2008 for the course ACCT 202 taught by Professor Adams during the Spring '08 term at CSU Chico.

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MidtermPractice_Chp2 - The Montana Corporation has provided...

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