201-R(3)-3-30,44,46-Solutions-S'11

201-R(3)-3-30,44,46-Solutions-S'11 - ! "#"$! ! "#%! "#%&! !

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1 !"#$% ’() * +,-./" ’()) 012.$3$.4/ 5-4671#8 * 09:;< :=:(> :=?@ "#"$ "#%% "#%& ’()* )+ ,)-.- ./0)12/ ./3 4#5,,)16.-7 86,)93 :.5.3936. 56; ./3 <5(56,3 :/33. =>[email protected]=>?:7 8: *A./ 6)095( ,)-.A62 B)1065( 36.0A3- +)0 6)095(7 C)D ,)-.A62 EXERCISE 3-30 (20 MINUTES) 1. Raw-Material Inventory Work-in-Process Inventory 226,200 226,200 421,200 234,000 Wages Payable 156,000 421,200 Manufacturing Overhead Finished-Goods Inventory 234,000 156,000 Sales Revenue 171,600 253,500 Accounts Receivable Cost of Goods Sold 253,500 171,600 2. JAY SPORTS EQUIPMENT COMPANY, INC. PARTIAL BALANCE SHEET AS OF DECEMBER 31, 20X2 Current assets Cash . .......................................................................................................... XXX Accounts receivable . ................................................................................ XXX Inventory Raw material. ........................................................................................ $ 68,900 Work in process . .................................................................................. 748,800 Finished goods. .................................................................................... 23,400 JAY SPORTS EQUIPMENT COMPANY, INC. PARTIAL INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 20X2 Sales revenue. ................................................................................................ $253,500 Less: Cost of goods sold . ............................................................................. 171,600 Gross margin. ................................................................................................. $ 81,900 2 !"#$% ’() * +,-./" ’()) 012.$3$.4/ 5-4671#8 * 09:; PROBLEM 3-44 (45 MINUTES) NOTE: The 12/31/x4 balances for cash and accounts receivable, although given in the problem, are irrelevant to the solution. 1. MISTER MUNCHIE, INC. SCHEDULE OF COST OF GOODS MANUFACTURED FOR THE YEAR ENDED DECEMBER 31, 20X4 Direct material: Raw-material inventory, 12/31/x3 . ..................................... $ 30,300 Add: Purchases of raw material. ....................................... 117,000 Raw material available for use . ......................................... $147,300 Deduct: Raw-material inventory, 12/31/x4.
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This note was uploaded on 04/04/2011 for the course MGMT 201 taught by Professor Bobo during the Spring '09 term at Bradley.

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201-R(3)-3-30,44,46-Solutions-S'11 - ! "#"$! ! "#%! "#%&! !

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