Acc Ch 18
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Category: Business and Industry
Date Submitted: 09/30/2014 05:28 PM
EX 18-9
a.
Direct Materials: | | | | | | | | | | | | | | | |
Purchases ……………………………………… | 65 | 0 | 0 | 0 | 00 | | | | | | | | | | |
Cost of materials available for use……………. | 65 | 0 | 0 | 0 | 00 | | | | | | | | | | |
Cost of material used in production………….. | 50 | 0 | 0 | 0 | 00 | | | | | | | | | | |
Total materials used in production……….. | | | | | | 15 | 0 | 0 | 0 | 00 | | | | | |
Direct Labor…………………………………………. | | | | | | 75 | 0 | 0 | 0 | 00 | | | | | |
Factory Overhead…………………………………… | | | | | | 105 | 0 | 0 | 0 | 00 | | | | | |
Total cost of goods manufactured………………… | | | | | | | | | | | $195 | 0 | 0 | 0 | 00 |
GANTT MANUFACTURING COMPANY |
Income Statement |
March |
|
Sales ……………………………………………………………………………. | | | | | | 310 | 0 | 0 | 0 | 00 |
Cost of goods sold: | | | | | | | | | | |
Finished goods inventory………………………………………………… | 175 | 0 | 0 | 0 | 00 | | | | | |
Cost of goods manufactured ……………………………………………… | 195 | 0 | 0 | 0 | 00 | | | | | |
Cost of finished goods available for sale ……………………………….. | 360 | 0 | 0 | 0 | 00 | | | | | |
Cost of goods sold…………………………………………………….. | 220 | 0 | 0 | 0 | 00 | | | | | |
Total cost of goods sold………………………………………………. | | | | | | 140 | 0 | 0 | 0 | 00 |
Gross Profit……………………………………………………………………… | | | | | | 170 | 0 | 0 | 0 | 00 |
Operating Expenses: | | | | | | | | | | |
Selling Expense……………………………………………………………. | 80 | 0 | 0 | 0 | 00 | | | | | |
Administrative Expense…………………………………………………… | 35 | 0 | 0 | 0 | 00 | | | | | |
Total operating expenses……………………………………………………… | | | | | | 115 | 0 | 0 | 0 | 00 |
Net...
