Required information [The following information applies to the questions displayed below.] The following data refer to Huron Corporation for the year 20x2. Sales revenue Raw-material inventory, 12/31/x1 Purchases of raw material in 20x2 Raw-material inventory, 12/31/x2 Direct-labor cost incurred Selling and administrative expenses Indirect labor cost incurred Property taxes on factory Depreciation on factory building Income tax expense Indirect material used Depreciation on factory equipment Insurance on factory and equipment Utilities for factory Work-in-process inventory, 12/31/x1 Work-in-process inventory, 12/31/x2 Finished-goods inventory, 12/31/x1 Finished-goods inventory, 12/31/x2 Applied manufacturing overhead $ 2,107,000 89,000 730,000 59,000 474,000 267,000 150,000 90,000 125,000 23,000 45,000 60,000 40,000 71,000 0 40,000 34,000 40,000 577,500

Required information [The following information applies to the questions displayed below.] The following data refer to Huron Corporation for the year 20x2. Sales revenue Raw-material inventory, 12/31/x1 Purchases of raw material in 20x2 Raw-material inventory, 12/31/x2 Direct-labor cost incurred Selling and administrative expenses Indirect labor cost incurred Property taxes on factory Depreciation on factory building Income tax expense Indirect material used Depreciation on factory equipment Insurance on factory and equipment Utilities for factory Work-in-process inventory, 12/31/x1 Work-in-process inventory, 12/31/x2 Finished-goods inventory, 12/31/x1 Finished-goods inventory, 12/31/x2 Applied manufacturing overhead $ 2,107,000 89,000 730,000 59,000 474,000 267,000 150,000 90,000 125,000 23,000 45,000 60,000 40,000 71,000 0 40,000 34,000 40,000 577,500

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter1: Introduction To Managerial Accounting

Section: Chapter Questions

Problem 5PA: Statement of cost of goods manufactured and income statement for a manufacturing company The...

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Cost Flow Relationships The following information is available for the first year of operations of Engle Inc., a manufacturer of fabricating equipment: $819,700 221,300 73,800 30,300 13,900 418,000 904,900 30,300 Sales Gross profit Indirect labor Indirect materials Other factory overhead Materials purchased Total manufacturing costs for the period Materials inventory, end of period Using the above information, determine the following missing amounts: a. Cost of goods sold b. Direct materials cost c. Direct labor cost
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