Aikman Corporation has the following cost records for June 2020: Indirect factory labour $ 4,850...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Aikman Corporation has the following cost records for June 2020: Indirect factory labour $ 4,850 . $ 450 Factory utilities Direct materials used 25.700 Depreciation factory equipment 1,700 Work in process (6/1/20) 3,050 Direct labour 30,700 Work in process (6/30/20) 2,900 2,050 Finished goods (6/1/20) 5,200 Maintenance, factory equipment Indirect materials Factory manager's salary 2,200 Finished goods (6/30/20) 9,500 3,000 Prepare a cost of goods manufactured schedule for June 2020. AIKMAN CORPORATION Cost of Goods Manufactured Schedule For the Month Ended June 30, 2020 Direct Materials Used $ Direct Labour 2 30700 Indirect Factory Labour Factory Utilities Depreciation Factory Equipment : $ Maintenance Factory Equipment : Indirect Materials Factory Manager's Salary Total Manufacturing Costs Total Manufacturing Costs Piane Prepare an income statement through gross profit for June 2020, assuming net sales are $ 88,800. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) AIKMAN CORPORATION Income Statement (Partial) Cost of Goods Sold : $ 2
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
