R2 HW Presentation - MGMT 201 R(2): 2-37, 2-43, 2-45 1....

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MGMT 201 R(2): 2-37, 2-43, 2-45
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Problem 2-37 1. (1) Income Statement (2) Balance Sheet (3) Income Statement (4) Income Statement (9) Cost of Goods Manufactured, Balance Sheet (10) Income Statement Differences Between Income Statements Manufacturers Service Industry Firms Sales Revenue COGS (Sales Rev-COGS = Total Op. Costs) Non-operating Income Non-operating Expenses Costs of manufactured inventory are product costs. Operating Revenue Operating Expenses (Op. Rev-Op. Exp = Total Op. Exp) SERVICE REVENUES AND EXPENSES ARE OPERATING (EXCEPT FOR INCOME EXPENSES) Costs of producing services are operating expenses, which are period costs.
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Problem 2-43 Indirect Labor = $15,000 San Fernando Fashions Schedule of Cost of Goods Manufactured For the Year Ended December 31, 20x2 DM: Raw material inventory, Jan 1 40000 Add: Purchases of raw material 180000 Raw material available for use 220000 Deduct: raw material inventory, Dec 31 25000 Raw materials used 195000 DL 200000 Manufacturing OH: IM 10000 IL 15000 Depreciation of plant & equipment 60000 Utilites: plant 40000 other OH 80000 Total Manufacturing OH 205000 Total Manufacturying Costs 600000 San Fernando Fashions
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This note was uploaded on 02/27/2012 for the course MGMT 201 taught by Professor Rowe during the Spring '08 term at Purdue University-West Lafayette.

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R2 HW Presentation - MGMT 201 R(2): 2-37, 2-43, 2-45 1....

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