Chapter 18 Examples for Class

Chapter 18 Examples for Class - Exercise 18-10...

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Exercise 18-10 merchandising business Viking Retail Partial Income Statement For Year Ending December 31, 2008 Cost of Goods Sold Merchanidise Inventory, December 31, 2007 $275,000 Add: Purchases $500,000 Merchanidse Available for Sale $775,000 Less, Merchandise Inventory, December 31, 2008 $115,000 COGS $660,000 manufacturing business Log Homes Manufacturing Partial Income Statement For Year Ending December 31, 2008 Cost of Goods Sold Finished Goods Inventory, December 31, 2007 $450,000 COG Manufactured $900,000 Goods Available for Sale $1,350,000 Less Finished Goods Inventory, December 31, 2008 $375,000 COGS $975,000 Exercise 18-11 Garcia Company Culpepper Company 1. Cost of Goods Manufactured Direct Materials Beginning raw materials inventory $7,250 $9,000 Raw Materials Purchases $33,000 $52,000 Raw Materials Available for Use $40,250 $61,000 Less Ending Raw Materials Inventory $5,300 $7,200 Direct Materials Used $34,950 $53,800 Direct Labor $19,000 $35,000 Factory Overhead Rental Cost on Factory Equipment $27,000 $22,750 Factory Utilities $9,000 $12,000 Factory Supplies Used $8,200
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Chapter 18 Examples for Class - Exercise 18-10...

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