Tag: accounting

“Requirement 2. Prepare an income statement for Chewy Bones for the year ended December 31, 2016.​(For accounts with a​ $0 balance, make sure to enter​ “”0″” in the appropriate​ column.)”,”Income StatementYear Ended December 31, 2016Revenue: Sales Revenue: $111,000Cost of Goods Sold: Beginning Finished Goods Inventory: $0 Cost of Goods Manufactured: 82,550 Cost of Goods Available for Sale: 82,550 Ending Finished Goods Inventory: (5,200)Cost of Goods Sold: 77,350Gross Profit: 33,650Selling and Administrative Expenses: Customer Service Hotline Expense: 2,000 Delivery Expense: 1,400 Sales Salaries Expense: 5,400Total Selling and Administrative Expenses: 8,800Operating Income: $24

Managerial Accounting

Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.“Requirement 2. Prepare an income[…]

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“Certain item descriptions and amounts are missing from the monthly schedule of cost of goods manufactured and income statement of Tioga Manufacturing Company.First we will fill in the missing information on the schedule of cost of goods manufactured. Select the​ heading, then complete the schedule”,”Tioga Manufacturing CompanySchedule of Cost of Goods ManufacturedMonth Ended June 30, 2016Beginning Work-in-Process Inventory: $27,000Direct Materials Used: Beginning Raw Materials Inventory: $21,000 Purchases of Raw Materials: 59,000 Raw Materials Available for Use: 80,000 Ending Raw Materials Inventory (27,000)Direct Materials Used $53,000Direct Labor: 73,000Manufacturing Overhead: 43,000Total Manufacturing Costs Incurred During the Month: 169,000Total Manufacturing Costs to Account For: 196,000Ending Work-in-Process Inventory (28,000)Cost of Goods Manufactured: $168

Managerial Accounting

Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.“Certain item descriptions and amounts[…]

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