Total 9650
Leonardo's Italian Caf Performance Report-Kitchen February 2011 Actual February January February January 4150 4700 4400 400 1500 1600 1400 -50 2050 2350 2100 150 1500 1500 1500 0 9200 10150 9400 500
Variance unfavorable favorable unfavorable unfavorable unfavorable February 250 -100 50 0 200
Alpha Manufacturing Inc. Statement of Cost of Good Sold April 30, 2011 Merchandise inventory, April 1 38000 Purchases 121000 Merchandise Available for sale 159000 Less: Endind inventory, April 30 33000 Cost of Goods Sold 126000
Bravo Merchandising Co. Statement of Cost of Good Sold April 30, 2011 Beginning Finished goods Inventory 67000 Cost of goods Manufactured 287000 Finished Goods Available for Sale 354000 Less: Finished Goods, April 30 61000 Cost of Goods Sold 293000
Indy Furniture Company Statement of Cost of Goods Manufactured November 30, 2011 Direct Materials: Inventory Beginning Purchases Total Cost of Available Materials Cost of Materials Used Less: Indirect Materials Used Cost of Direct Materials Used Direct Labor 0 33000 33000 7400 25600 1400 24200 18500
42700
Factory Overhead: Indirect materials Indirect Labor Depreciation of Building Depreciation of Machinery and Equipment Utilities Factory Overhead Total Manufacturing Cost 1400 4300 3000 2200 2750 13650 56350
Liabillities and Stockholder's Equity Current Liabilities: Accounts Payable Stockholder's Equity: Capital Stock Retained Earnings Total Stockholder's Equity Total liabilities and stockholder's equity 8900 422550 10650 433200 442100
Indy Furniture Company Income Statement November 30, 2011 Sales Cost Of Goods Sold: Finished Goods Inventory,Nov 1 Add: Cost Of Goods Manufactured Goods Available for Sale Less: Finished Goods Inventory, Nov 30 Gross Profit on Sale Selling Administrative Expense Total 0 56350 56350 13900 68300
297000
85800
382800 442100
Debit 58000
Credit
Accounts payable b. Work-in-process Factory Overhead(Indirect Materials) Materials c. Payroll Wages payable Wages payable Cash Work in process Indirect labor Selling and administrative expense Payroll d. Factory Overhead-Dept.Building (2000x4/5) Factory Overhead-Miscellaneous Selling and Administrative expense-Building (2000x1/5) Selling and Administrative expense-OfficeEquipment Accumulated Depr.-Building (480000x5%x1/12) Accumulated Depr.-Factory Equip. (220000x10%x1/12) Accumulated Depr.-Office Equip. (60000x20%x1/12) Factory overhead-Miscellaneous (11000x3/4) Sellng and Administrative Expenses (11000x1/4) Account Payable Work in process Factory Overhead Finished Goods Work in process Accounts Recevable Sales Cost of goods sold Finished goods Cash Accounts receivable Accounts Payable Cash
58000 47000 15000 62000 48000 48000 48000 48000 29000 12000 7000 48000 1600 1833 400 1000 2000 1833 1000 8250 2750 11000 38683 38683 91000 91000 345000 345000 188000 188000 362000 362000 158000 158000
e.
f. g. h.
i. j.
Beamer Manufacturing Co. Statement of Cost of Goods Manufactured April 30, 2011 Direct Materials: Inventory, Apr.30 Purchases Total Cost of Available Materials Less: Inventory, May 31 Cost of Materials Used Less: Indirect Materials Used Cost of Direct Materials Used Direct Labor Factory Overhead: Indirect Materials Indirect Labor Depr.of Building Depr.of Factory Equipment Miscellaneous Expense Total Manufacturing Cost during May
38683 114683
Beamer Manufacturing Co. Statement of Cost of Goods Sold Manufactured April 30, 2011 Net sales Cost of Goods Sold: Finished Goods Inventory, April 1 Cost Of Goods Manfactured Goods Available for Sale Less: Finished Goods Inventory, April 30 Gross Profit on sales Selling & Administrative Expense: Selling & Administrative Salaries Depreciation of Building Depreciation of Office Equipment Miscellaneous Net income Work in process inventory, May 1 Add: Total Manufacturing Cost during May Total Less: Work In Process Inventory, May 31 Cost of Goods Manufactured 362000 120000 91000 211000 23000
188000 174000
7000 400 1000 2750 11150 162850 35000 114683 149683 58683 91000
Cash 25000 c. 48000 i. 348000 g.158000 ______________ 181000 Materials 18000 b. 62000 a.58000 __________________ 14000
Accounts Receivable 65000 i. 345000 h. 362000 ________ _________________ 82000 Building 480000
Finished Goods 120000 h. 188000 g. 91000 _____________________ 231000 Accumulated dep.-bldg 72000 d. 2000 ___________________ 74000
c. 48000
Payroll c. 48000
Work In Process 35000 g. 91000 b. 27000 c. 29000 f. 38683 58653 Accounts Payable J. 158000 95000 a. 58000 e.11000 ______________________ 6000 Accumulated dep.-Office equip. 63000 10000 _____________________ 73000 Sales h. 345000
Journal Entries: 1. Materials 55,000 Accounts Payable 2. Workin Process 45,500 Factory overhead 3. Payroll 65,000 Wages payable 4. Work in process 50,000 Factory overhead 11,000 Payroll 5. Accounts Payable 65,000 Cash 6. Factory Overhaed 42,000 Accounts Payable 7. Factory Overhead 10000 Accumulated Dep. 8. Work in Process 76900 Factory Overhead 9. Finished Goods 73900 Work in Process 10. Accounts Receivable 178200 Sales Cost of goods Sold Finished Goods 72700
72700
Balance Sheet Current Assets: Cash Accounts Receivable Inventories: Finished Goods Work in Process Materials Total Current Assets Plants and Equipment: Building Less: Accumulated Dep. Factory Equipment Less: Accumulated Dep. Office Equipment Less: Accumulated Dep. Total Plant and Equipment Total Assets $164,000 82000 23000 58683 14000
95683 $341,683
Liabilities and Shareholders Equity Current Liability: Accounts Payable Stockholders Equity: Capital Stock Retained Earnings Total Shareholders Equity Total Liabilities and Shareholders Equity
Retained Earnings(504000+162850)
666850
Cost of Goods Manufactured Direct Materials: Inventory beg.July 1 Purchases Total Cost of Available Materials Less: Inventory, July 31 Cost Of Direct Materials used in Production Direct Labor Factory Overhead Total Manufacturing Cost during July Add: Work In Process inv. July 1 Total: Less: Work In Process inv. July 31 (90%* 40000) Cost Of Goods Manufactured 20000 110000 130000 26000 156000 125333 62667 344000 40000 384000 36000 348000
Computation
O'Reilly Manufacturing inc. Schedule of Prime Cost July 31, 2011 Direct Materials Direct Labor Prime Cost 156000 125333 281333
Direct labor
125333 125333
Computation
L FO