The following information pertains to Flaxman Manufacturing Company for April. Assume actual overhead equaled applied overhead. April 1 Inventory balances Raw materials Work in process Finished goods $123,700 118,700 77,400 April 30 Inventory balances Raw materials Work in process Finished goods During April $ 85,700 146,600 80,900 Costs of raw materials purchased $119,200 Costs of direct labor 101,300 Costs of manufacturing overhead 62,600 Sales revenues 352,000 Required . Prepare a schedule of cost of goods manufactured and sold. . Calculate the amount of gross margin on the income statement.
The following information pertains to Flaxman Manufacturing Company for April. Assume actual overhead equaled applied overhead. April 1 Inventory balances Raw materials Work in process Finished goods $123,700 118,700 77,400 April 30 Inventory balances Raw materials Work in process Finished goods During April $ 85,700 146,600 80,900 Costs of raw materials purchased $119,200 Costs of direct labor 101,300 Costs of manufacturing overhead 62,600 Sales revenues 352,000 Required . Prepare a schedule of cost of goods manufactured and sold. . Calculate the amount of gross margin on the income statement.
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 12PB: The following data summarize the operations during the year. Prepare a journal entry for each...
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