Week3_Accounting_Assignment

Week3_Accounting_Assignment - Enes Avdic Week 3 Accounting...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Enes Avdic Week 3 Accounting Homework Chapter 5 EXERCISE 5-16 Part a) Prepare the cost of goods manufactured schedule for the month ended June 30, 2008. CHAMBERLIN MANUFACTURING Cost of Goods Manufactured Schedule For the Month Ended June 30, 2008 Work in process inventory, June 1 $5,000 Direct Materials Raw materials inventory, June 1 $9,000 Raw materials purchases 54,000 Total raw materials available for use 63,000 Less: Raw materials inventory, June 30 13,100 Direct materials used 49,900 Direct labor 57,000 Manufacturing overhead Indirect labor $5,500 Factory insurance 4,000 Machinery depreciation 4,000 Factory utilities 3,100 Machinery repairs 1,800 Miscellaneous factory costs 1,500 Total manufacturing overhead 19,900 Total manufacturing costs 126,800 Total cost of work in process 131,800 Less: Work in process inventory, June 30 7,000 Cost of goods manufactured 124,800 Part b) Show the presentation of the ending inventories on the June 30, 2008 balance sheet. CHAMBERLIN MANUFACTURING Balance Sheet June 30, 2008 Current assets Inventories Finished goods $6,000 Work in process 7,000
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Cost Item Direct Materials Direct Labor Manufacturing Overhead Period Costs Rent on factory equipment $0 $0 $7,000 $0 Insurance on factory building $0 $0 $1,500 $0 Raw materials $75,000 $0 $0 $0 Utility costs for factory $0 $0 $900 $0 Supplies for general office $0 $0 $0 $300 Wages for assembly line workers $0 $43,000 $0 $0 Depreciation on office equipment $0 $0 $0 $800 Miscellaneous materials $0 $0 $1,100 $0 Factory manager's salary $0 $0 $5,700 $0 Property taxes on factory building $0 $0 $400 $0 Advertising for helmets $0 $0 $0 $14,000 Sales commissions $0 $0 $0 $7,000 Depreciation on factory building $0 $0 $1,500 $0 $75,000 $43,000 $18,100 $22,100 Raw materials 13,100 $26,100 P5-1A Part a) Bjerg Company Product Costs Part b) Compute the cost to produce one helmet:
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 05/28/2011 for the course ACCOUNTING 301 taught by Professor Stub during the Spring '08 term at DeVry Chicago.

Page1 / 6

Week3_Accounting_Assignment - Enes Avdic Week 3 Accounting...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online