Solution-Prepare the cost of goods sold section of a

Prepare the cost of goods sold section of a partial income

Reference no: EM13896264

Adria Lopez, owner of Success Systems, decides to diversify her business by also manufacturing computer workstation furniture.

Required:

1. Classify the following manufacturing costs of Success Systems by behavior and traceability.

720_267-B-M-A-M-A (615).png

2. Prepare a manufacturing statement for Success Systems for the month ended January 31, 2014. Assume the following manufacturing costs:
Direct materials: ...... $ 2,200
Factory overhead: .... $ 490
Direct labor: ....... $ 900
Beginning goods in process: none (December 31, 2013)
Ending goods in process: $ 540 (January 31, 2014)
Beginning finished goods inventory: none (December 31, 2013)
Ending finished goods inventory: $ 350 (January 31, 2014)
3. Prepare the cost of goods sold section of a partial income statement for Success Systems for the month ended January 31,2014.

Reference no: EM13896264

Questions Cloud

Have you learned anything about the nature of justice : Write on what you feel you have learned from reading Plato's Republic. Have you learned anything about the nature of justice? Have you learned anything about what sort of life would make you happy

What is the maximum total service load that beam can support : What is the maximum total service load that the beam can support at the ultimate limit state if deflections control the design?Maximum total deflection allowed is equal to L/200.

Japanese expansion in world war ii : really need help for academic 6 pages of essay (double-spaced) about the Japanese Colonization of Southeast Asia, especially focusing on Singapore.

What is the impact of the lack of fit : What options are available to the firm in the short term when dealing with this lack of fit? What is the impact of the lack of fit? What are the implications of the firm trying to improve the fit?

Prepare the cost of goods sold section of a partial income : 1. Classify the following manufacturing costs of Success Systems by behavior and traceability.

Calculate the payback period the npv and the irr : Calculate the payback period the NPV and the IRR

How would you define capabilities within school or business : How would you define capabilities within a school or business? When can a consumer be a critical consumer? In other words, when does it make sense to focus on consumers such as retail stores.

Marketing management class assignment : Marketing management class assignment that requires reading a case study (see attached) attached and analyzing it. I have already completed the assignment

Difference between common stock and preferred stock? : What is the difference between common stock and preferred stock?

User Account

All Pages

Prepare the cost of goods sold section of a partial income

Reference no: EM13896264

Reference no: EM13896264

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

Watson company has the following data work in process

Determine the simple interest rate at which 1500 will grow

Jacob is an employee and used the computer 100 of the time

Sunshine cosmetics corporation requires to acquire new

It is the responsibility of management to apply accounting

Hazel company has just purchased equipment that requires

The ambrosia corporations lead accountant shows the

Adequacy of the reporting requirements

Determine a cash payments schedule for january through

Sophie is a single taxpayer for the first payroll period in

Define difference between sales journal and accounts

Presented below are the components in gates companys income

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT