Chapter 1 - Solutions

Chapter 1 - Solutions - ACC 377 SUMMER 2010 CHAPTER 1...

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ACC 377 SUMMER 2010 CHAPTER 1 HOMEWORK SOLUTIONS Exercises 2. Merchandise Inventory, January 1 22,000 Purchases 183,000 Cost of Goods Available for Sale 205,000 Less: Merchandise Inventory, January 31 (17,000) Cost of Goods Sold 188,000 3. Finished Goods, July 1 85,000 Cost of Goods Manufactured 343,000 Cost of Goods Available for Sale 428,000 Less: Finished Goods, July 31 (93,000) Cost of Goods Sold 335,000 4. a. Direct materials b. Direct materials c. Direct materials d. Factory overhead e. Direct labor f. Factory overhead g. Factory overhead h. Factory overhead i. Direct materials j. Factory overhead k. Factory overhead l. Selling and administrative expenses m. Factory overhead n. Factory overhead (book said direct materials, but I disagree) o. Direct labor p. Selling and administrative expenses 6. a. Black Hills Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended January 31, 2009 Direct Materials: Materials inventory, January 1 25,000 Materials purchased
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Chapter 1 - Solutions - ACC 377 SUMMER 2010 CHAPTER 1...

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