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Question
Submitted by Shane Khem on Sat, 2013-08-10 21:46
due on Sun, 2013-08-11 22:00
answered 3 time(s)
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Answer
Submitted by excellentassi... on Sat, 2013-08-10 22:57
teacher rated 404 times
4.772275
price: $40.00

accounting

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xxxx xxx go, best xxxxxxSmile

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xxxxxxxxxx ACCOUNTING-TAKE xxxx xxxx

xxx xxxxxxxxx STATEMENTS ARE xx xx TYPEDx xxx QUIZ xx DUE xx xxx xxxxx xx xxxxxx xxxxx xxx xxxxx xxxxxx TO CLASS

xxxxx xxx xxxxxxxxxx Properly xxxxx xxx totals, subtotals, and financial statements

Use xxx following xxxxxxxxxxx to prepare the required financial xxxxxxxxxx xx xxxxxxxxxx below:

Administrative xxxxxxxx expense $ 119,000

xxxxxxxxxxx expense 12,000

Direct xxxxx xxxxxxx x

xxxxxxxxxxxx xxxxxxxx factory xxxxxxxx xx

xxxxxxxx xxxxx inventory,1/1 x xxxxxxx

Accounting xxx auditing xxxxxxxxxxxxxxxx

xxxxxx xxxxxxxx inventory,1/1 42,000

xxxxx maintenance xxxxxxxxxxxxxxxxxx

Work in xxxxxxx xxxxxxxxxxxxxxx x 9,000

xxxxx discount 15,000

Factory cleaning expense 30,000

xxxxxx material xxxxxxxxxxx xxxxxxxx

xxxxxxxxxxxxx design xxxxxxxxxxx 3,000

Legal xxxxxxxxxxxxx xxxxxx

xxxxx sales 998,000

Indirect material 22,000

Depreciation expense 16,000

Plant xxxxxxxx tax xxxxxxxxxxx 8,000

xxxxxx material xxxxxxxxxxxxxxxxxx xxxxxxx

xxxxxxxx xxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxx waste xxxxxxxxxxxxxxxxx

xxxx xx xxxxxxx xxxxxxxxxx xxxxx 7,000

xxxxxxx and warehouse expense 12,000

xxxxxxxx xxxxx inventory, 12/31 29,000

xxxxxxx xxxxxxxxxxxxxxxx

xxxxxxxx expense, xxxxxxxxxxxxxxxxx

xxxxx returns xxx allowances 4,000

xxxxx manufacturing overhead 13,000

Utilities expense 5,000

Plant xxxxxxxxx expense xxxxxx

Insurance expense, selling 7,000

Research expense, xxxxxxxxxxxxxxxx

Consulting xxxxxxxxxxxxxxxxxxx

xxxxxxx quality xxxxxxx xxxxxxxxxxxxxxxxxx

Store xxxxxx xxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxx Prepare the cost xx xxxxx manufacturing xxxxxxxx and a separate income statement for Joy xxx Peace xxxxxxxxxxxxx xxxxxxx

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Answer
Submitted by accountguru on Sat, 2013-08-10 23:09
teacher rated 413 times
4.76029
price: $22.50

Joy and Peace Manufacturing Company_Cost of goods manufactured

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xxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Joy xxx xxxxx Manufacturing Company
Cost of xxxxx xxxxxxxxxxxxx schedule
xxx the year xxxxx xxxxxxxx xxx xxxx
xxxxxx Material
Inventory xxxx 01$42,000
Add: Purchases xxxxxxxx
Total xxxxxxxx available xxxxxxxx
Less: material xxxxxxxxx - xxxx xx$39,000
xxxxxxxx xxxxxxxx$180,000
xxxxx xxxxxxxx Material $22,000
Direct xxxxxxxx xxxxxxxx $158,000
xxxxxx Laborxxxxxxxx
xxxxxxxxxxxxx xxxxxxxx
xxxxxxxxxxxx xxxxxxx x Factoryxxxxxxx
Plant Maintenance expense $35,000
Factory xxxxxxxx xxxxxxx xxxxxxx
Manufacturing design xxxxxxx xxxxxx
xxxxxxxx xxxxxxxx$22,000
xxxxx property tax xxxxxxx $8,000
xxxxxxxx Labor$48,000
xxxxxxxxxxxx waste expense $15,000
Security xxxxxxx x plantxxxxxxx
Other xxxxxxxxxxxxx xxxxxxxx$13,000
xxxxx warehouse xxxxxxx xxxxxx
Research xxxxxxx - xxxxx$15,000
Factory Quality xxxxxxx Expensesxxxxxxx
Total Manufacturing xxxxxxxx $255,000
Manufacturing xxxx incurred during the xxxxxx$523,000
Work in process xxxx x $9,000
xxxxx xxxxxxxxxxxxx xxxxxxxxxxxxx
xxxxxxxxx in xxxxxxx x inventory x xxxx 31xxxxxx
Cost of xxxxx xxxxxxxxxxxx xxxxxxxx
xxxxxxxx Goods xxxxxxx
Finished Goods x Invenoty - xxxx xx$27,000
Add: xxxx xx goods xxxxxxxxxxxx$525,000
Total xxxxx available for xxxxxxxxxxxx
less: xxxxxx inventory - xxxx xxxxxxxxx
xxxx of xxxxx xxxxxxxxxxxx
xxx xxx xxxxx xxxxxxxxxxxxx xxxxxxx
Income xxxxxxxxx
xxx the xxxx xxxxx December 31, xxxx
xxxxxxxxxxxxx
Less: Sales discountxxxxxxx
Sales return & Allowances xxxxxx
Net Sales$979,000
xxxxx xxxx xx Goods xxxx $523,000
xxxxx Profit$456,000
Less: xxxxxxxxxxxxxx Expenses
Administrative xxxxxxxx xxxxxxx$119,000
xxxxxxxxxx and xxxxxxxx xxxxxxx xxxxxxx
Legal expense xxxxxx
xxxxxxxxxxxx Expense $16,000
Utilities Expense $5,000
xxxxxxxxxx Expenses $21,000
xxxxx Administrative Expense$220,000
xxxxx Selling

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