P1-5b - Name Date Instructor Course Managerial Accounting 3rd Edition by Weygandt Kieso and Kimmel Solving Managerial Accounting Problems Using

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FileName: 0b9a0aa2d8a8270bc01fea07d56cedcd13d30ad6.xls, Tab: Problem P1-5B, Page 1 of 2, 12/28/2011, 19:01:54 Name: Date: Instructor: Course: TOMBERT COMPANY Income Statement For the Month Ended October 31, 2005 Sales (Net) $780,000 Less: Operating expenses Raw materials purchased $264,000 Direct labor cost 190,000 Advertising expense 90,000 Selling and admin salaries 75,000 Rent on factory facilities 60,000 Depreciation on sales equip 45,000 Depreciation on factory equip 31,000 Indirect labor cost 28,000 Utilities expense 12,000 Insurance expense 8,000 803,000 Net loss ($23,000) 1. Inventory balances at the beginning and end of October were: Oct 1 Oct 31 Raw materials $18,000 $34,000 Work in process 16,000 14,000 Finished goods 30,000 48,000 Instructions: (a) Prepare a cost of goods manufactured schedule for October 2005. TOMBERT COMPANY Work in process, October 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
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This note was uploaded on 12/28/2011 for the course ACCT 221 taught by Professor Leonarda.bacon during the Winter '07 term at CSU Bakersfield.

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P1-5b - Name Date Instructor Course Managerial Accounting 3rd Edition by Weygandt Kieso and Kimmel Solving Managerial Accounting Problems Using

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