Accounting Johnson Manufacturing Co.

Accounting Johnson Manufacturing Co. - Cost of goods...

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Work in process, Jan. 1, 2010 Direct materials Raw materials inventory, Jan. 1, 2010  12,000  Raw materials purchases  50,000  Total raw materials available for use  62,000  Less:  Raw materials inventory, Dec. 31, 2010  9,000  Total direct materials used  53,000  Direct labor  60,000  Manufacturing overhead Indirect labor  22,000  Plant Depreciation  12,000  Plant Repairs  4,000  Indirect Materials  2,000  Plant Insurance  15,000  Plant Property Taxes  15,000  Total manufacturing overhead  70,000  Total manufacturing costs Total cost of work in process Less:  Work in process, Dec. 31, 2010
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Unformatted text preview: Cost of goods manufactured 4,000 Sales revenues Sales 250,000 Less: Sales discounts Net sales Cost of goods sold Finished goods inventory, Jan. 1, 2010 18,000 Cost of goods manufactured 180,000 Cost of goods available for sale 198,000 Less: Finished goods inventory, Dec. 31, 2010 16,000 Cost of goods sold Gross profit Less: Period Expense: Sales Commission 5,000 General & Administrative 3,500 Net Income 183,000 187,000 7,000 180,000 250,000 182,000 $68,000 $59,500...
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Accounting Johnson Manufacturing Co. - Cost of goods...

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