50.1K

Verified Solution

Link Copied!

Anthony, the manager at Flint's Danishes, was excited to determine the company's profit this year. It was a break-out year for the company, especially after being selected to cater the World College Club Sports Athletes' Annual Meeting. The company was thrilled! The number and variety of danishes produced for that event alone doubled the company's sales for the year. Anthony knew the total sales amount but had yet to determine the total COGS. He hoped that it would be low relative to sales. Here are the transactions and amounts Anthony found when gathering information for his COGS calculation. Anthony was sure that not all of these amounts should be included in COGS but didn't know how to correctly sort them. Beginning and ending balances for several accounts for Flint's Danishes are as follows. Prepare a schedule of COGM and COGS in good form. Utilize relevant information as needed. Question 6 of 8 0.25/1 Beginning Finished Goods Inventory Beginning Direct Materials Inventory Beginning WIP Inventory Cost of Goods Manufactured Cost of Goods Sold Depreciation Direct Labor Direct Materials Available For Use Direct Materials Used Ending Direct Materials Inventory Ending Finished Goods Inventory Ending WIP Inventory Manufacturing Overhead Purchases of Direct Materials Total Manufacturing Costs Utilities Wages Schedule of COGM \& COGS $ $ Schedule of COGM \& COGS $

Answer & Explanation Solved by verified expert

See Answer