p1-5a - Name: Date: Instructor: Course: Managerial...

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FileName: 8a6b811902ca866422672229c7521210ad3e74cd.xls, Tab: Problem P1-5A, Page 1 of 2, 12/28/2011, 19:01:51 Name: Date: Instructor: Course: AGLER COMPANY Income Statement For the Month Ended August 31, 2005 Sales (Net) $675,000 Less: Operating expenses Raw materials purchased $200,000 Direct labor cost 160,000 Advertising expense 75,000 Selling and admin salaries 70,000 Rent on factory facilities 60,000 Depreciation on sales equip 50,000 Depreciation on factory equip 35,000 Indirect labor cost 20,000 Utilities expense 10,000 Insurance expense 5,000 685,000 Net loss ($10,000) 1. Inventory balances at the beginning and end of August were: Aug 1 Aug 31 Raw materials $19,500 $30,000 Work in process 25,000 21,000 Finished goods 40,000 64,000 Instructions: AGLER COMPANY Work in process, August 1 Amount Direct materials Account Amount Account Amount Title Formula Account Amount Account Formula Direct labor Amount Manufacturing overhead Account Amount Account Amount Account Amount Account Amount Account Amount Title Formula Total manufacturing costs Formula Title Formula Account Amount Cost of goods manufactured Formula AGLER COMPANY Sales (net) Amount
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p1-5a - Name: Date: Instructor: Course: Managerial...

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