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Z COST CH1
1.2 a. Production
b. Procurement
c. Selling
d. Production
e. Warehousing
f. Procurement
g. Selling
h. Production
i. Procurement
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Dr.Z.Z COST CH1
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Dr.Z.Z COST CH1
1.9 Overapplied. The credit was $3,243 more than the total debits.
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Dr.Z.Z COST CH1
Problem 1-2A
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Dr.Z.Z COST CH1
Gardner Manufacturing
Statement of Cost of Goods
Corporation
Manufactured June 30, 2006
Year Ended
Raw Materials
Raw Materials Inventory, July 1, 2006 60 0 0 00
Material 203 6 0 00
Total Materials Available
Purchases 263 6 0 0
00
Less Raw Materials Inventory, June 30, 2007 52 0 0 0
00
Raw Materials Used 211 6 0 00
0
Direct Labor 118 2 0 00
0
Manufacturing 0
Indirect Materials and
Overhead 154 8 00
Indirect
SuppliesLabor 110 8 0 00
Payroll Taxes Expense-Factory 98 0 0 00
Utilities 164 0 00 0
Repairs and 42 0 00 0
DepreciationFactory
Maintenance Equipment 51 0 00 0
Insuranc 24 6 00 0
RentFactory
e Building 570 0 00 0
Total Manufacturing Overhead 0 121 5 2 00
Total Manufacturing Costs 451 3 2 00
0
Add Work in Process Inventory, July 1, 2006 24 6 0 00
0
Total Manufacturing Costs to Account For 475 9 2 0
00
Less Work in Process Inventory, June 30, 2007 26 0 0 0
00
Cost of Goods 449 9 2 00
0
Manufactured 0
Problem 1-3A
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Dr.Z.Z COST CH1
Clayton Company
Statement of Cost of Goods
Manufactured
Year Ended September 30, 2007
Raw Materials
Raw Materials Inventory, Oct 1, 2006 1 4 7 0 0 0 0
Materials 2 8 4 0 0 0 0
0
Purchases
Total Materials Available 4 3 1 0 0 0 0
0
Less Raw Materials Inventory, Sept 30, 2007 1 3 6 0 0 0 0
0
Raw Materials Used 2 9 5 0 0 0 0
0
Direct Labor 2 3 6 0 0 0 0
0
Manufacturing 0
Overhead
Indirect Materials and 4 7 0 0 0 0
Supplies
Indirect Labor 8 4 0 0 0 0
0
Other Manufacturing 0
1 5 7 0 0 0 0
Overhead
Total Manufacturing Overhead 0 2 8 8 0 0 0 0
Total Manufacturing Costs 8 1 9 0 0 0 0
0
Add Work in Process Inventory, Oct 1, 2006 1 1 8 0 0 0 0
0
Total Manufacturing Costs to Account for 9 3 7 0 0 0 0
0
Less Work in Process Inventory, Sept 30, 2007 1 2 2 0 0 0 0
0
Costs of Goods 8 1 5 0 0 0 0
0
Manufactured 0
Clayton Company
Income
Statement
Year Ended September 30, 2007
Revenu
e Sales 1 4 6 0 0 0 0
Costs of Goods Sold 2 0
Finished Goods Inventory, Oct 1, 2006 2 0 0 0 0 0
Add Cost of Goods Manufactured 8 1 5 0 0 0 0
0
Total Goods Available for Sale 8 3 5 0 0 0 0
0
Less Finished Goods Inventory, Sept 30, 2007 2 5 0 0 0 0
0
Cost of Goods Sold 0 8 1 0 0 0 0 0
Gross Profit on Sales 4 3 6 0 0 0 0
0
Operating Expenses 0
Selling Expenses 2 6 5 0 0 0 0
Administrative Expenses 8 7 0 0 0 0
0
Total Operating Expenses 0 3 5 2 0 0 0 0
Net Income from 0
8 4 0 0 0 0
Operations 0
Problem 1-4A
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Dr.Z.Z COST CH1
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Dr.Z.Z COST CH1
Problem 1-5A
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Dr.Z.Z COST CH1
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Dr.Z.Z COST CH1
POST. DR.
DATE EXPLANATION DEBIT CREDIT BALANCE
REF. CR.
200
6
July 3 J7 3 8 2 2 5 7 0 3 8 2 2 5 7 0 DR
1 0 0
POST. DR.
DATE EXPLANATION DEBIT CREDIT BALANCE
REF. CR.
200
6 3 Balance
July 8 6 2 8 0 0 DR
1
3 J6 1 0 2 3 4 0 0 1 8 8 6 2 0 0
0 DR
1
3 J6 0 1 0 9 7 2 0 0 7 8 9 0 0 0
0 DR
1 0 0
POST. DR.
DATE EXPLANATION DEBIT CREDIT BALANCE
REF. CR.
200
6
July 3 Balance 6 8 8 3 7 0 DR
1
3 J6 8 3 0 0 5 0 1 5 1 8 4 2 0
0 DR
1
3 J6 1 0 4 6 2 0 0
0 2 5 6 4 6 2 0
0 DR
1
3 J6 0
8 7 8 2 9 0 0
3 4 4 2 9 1 0 DR
1
3 J6 0 2 7 1 7 8 3 0 0
7 2 5 0 8 0 DR
1 0 0
POST. DR.
DATE EXPLANATION DEBIT CREDIT BALANCE
REF. CR.
200
6
July 3 Balance 4 2 0 9 0 0 DR
1
3 J6 2 7 1 7 8 3 0 3 1 3 8 7 3 0
0 DR
1
3 J6 0 2 7 5 3 3 3 0 3 8 5 4 0 0
0 DR
1 0 0
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Dr.Z.Z COST CH1
POST. DR.
DATE EXPLANATION DEBIT CREDIT BALANCE
REF. CR.
200
6
July 3 J6 1 0 2 3 4 0 0 1 0 2 3 4 0 0 CR
1
3 J6 0
2 9 5 6 8 0 0
1 3 1 9 0 8 0 CR
1 0 0
POST. DR.
DATE EXPLANATION DEBIT CREDIT BALANCE
REF. CR.
200
6
July 3 J6 1 3 8 2 4 0 0 1 3 8 2 4 0 0 CR
1 0 0
POST. DR.
DATE EXPLANATION DEBIT CREDIT BALANCE
REF. CR.
200
6
July 3 J7 3 8 2 2 5 7 0 3 8 2 2 5 7 0 CR
1 0 0
POST. DR.
DATE EXPLANATION DEBIT CREDIT BALANCE
REF. CR.
200
6
July 3 J6 2 7 5 3 3 3 0 2 7 5 3 3 3 0 DR
1 0 0
POST. DR.
DATE EXPLANATION DEBIT CREDIT BALANCE
REF. CR.
200
6
July 3 J6 1 3 8 2 4 0 0 1 3 8 2 4 0 0 DR
1
3 J6 0 1 3 8 2 4 0 0 00
1 0
Manufacturing Overhead No. 501
Control
POST. DR.
DATE EXPLANATION DEBIT CREDIT BALANCE
REF. CR.
200
6
July 3 J6 2 6 7 1 5 0 2 6 7 1 5 0 DR
1
3 J6 0
3 3 6 2 0 0 0
6 0 3 3 5 0 DR
1
3 J6 0
2 9 5 6 8 0 0
8 9 9 0 3 0 DR
1
3 J6 0 8 7 8 2 9 0 2 0 7 4 0
0 DR
1 0 0
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Dr.Z.Z COST CH1
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Dr.Z.Z COST CH1
Revenu
e Sales 3 8 2 2 5 70
Costs of Goods Sold 0
Finished Goods Inventory, July 1, 2006 4 2 0 9 00
Add Cost of Goods Manufactured 0
2 7 1 7 8 30
Total Goods Available for Sale 0
3 1 3 8 7 30
Less Finished Goods Inventory, July 31, 2006 0
3 8 5 4 00
Cost of Goods Sold 0 2 7 5 3 3 30
Gross Profit on Sales 0
1 0 6 9 2 40
Operating Expenses 0
Selling Expenses 4 9 7 4 10
Administrative Expenses 0
2 1 8 0 00
Total Operating Expenses 0 7 1 5 4 10
Net Income Before Income Taxes 0
3 5 3 8 30
Provision for Income Taxes 0
1 4 1 5 30
Net Income After Income Taxes 0
2 1 2 3 00
0
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