Financial Accounting Manufacturing Statements And Income Statement Homework Help
Best UK USA UAE Australia Canada China Financial Accounting Manufacturing Statements And Income Statement Homework Help Service Online
1.Schedule of cost of goods manufactured, income statement
The following information was taken from the ledger of Jefferson Industries, Inc.
|Direct labor||$85,000||Administrative expenses||$59,000|
|Selling expenses||34,000||Work in. process|
|Finished goods||Dec. 31||21,000|
|Jan. 1||115,000||Direct material purchases||88,000|
|Dec. 31||131,000||Depreciation: factory||18,000|
|Raw (direct) materials on hand||Indirect materials used||10,000|
|Jan. 1||31,000||Indirect labor||24,000|
|Dec. 31||40,000||Factory taxes||8,000|
Prepare the following:
a. A schedule of cost of goods manufactured for the year ended December 31.
b. An income statement for the year ended December 31.
2. Manufacturing statements and cost behavior
Tampa Foundry began operations during the current year, manufacturing various products for industrial use. One such product is light-gauge aluminum, which the company sells for $36 per roll. Cost information for the year just ended follows.
|Per Unit||Variable Cost||Fixed Cost|
|Direct materials||$4.50||$ —|
Production and sales totaled 20,000 rolls and 17,000 rolls, respectively There is no work in process. Tampa carries its finished goods inventory at the average unit cost of production.
a. Determine the cost of the finished goods inventory of light-gauge aluminum.
b. Prepare an income statement for the current year ended December 31
c. On the basis of the information presented:
1. Does it appear that the company pays commissions to its sales staff? Explain.
2. What is the likely effect on the $4.50 unit cost of direct materials if next year’s production increases? Why?
3. A company issues $15,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2012. Interest is paid on June 30th and December 31st. The proceeds from the bonds are $14,703,109. Using effective-interest amortization, what will the carrying value of the bonds be on the December 31, 2012 balance sheet?
How it Works?
How it Works?
Step 1:- Want to buy solution for this. Please click on submit your assignment here and then fill all details and please mentioned product code at the end of the case. Product code is extremely important to locate your assignment. You can also mail us by keeping product code as mail subject to firstname.lastname@example.org
Step 2:- As soon as we received your details, we will inform you with through email about quotations of the given assignment. Requesting you to please mention your budget. Also ensure our email email@example.com should not go into your spam folder.
Step 3:- Once you agree with our price, click on pay now and pay the agreed amount and once we received the payment assignment will be delivered before agreed deadline.
Step 4:-You can also call us in our phone no. as given in the top of the home page or chat with our customer service representatives by clicking on chat now given in the bottom right corner.
Our Features for Assignment Help Services
Plagiarism Free Solution
The first and foremost things that we promise to our customer is plagiarism free solution i.e. a complete and unique solution as per customer’s university requirements.
Excellent Customer Care Services
You can feel our responsiveness once you use our service. Our team of excellent and dedicated customer service representatives are always ready to provide best customer care service 24X7 . Just drop a mail to firstname.lastname@example.org and you can receive response in just no time.
Multiple Stage Quality Assurance
We design a unique multiple stage quality assurance team to ensure plagiarism free, original, relevant and as per customer’s requirements. We not only give importance to accurate solutions or writing but also we give equal importance to references style too.
Privacy and Confidentiality
We believe in maintaining complete privacy and confidentiality of all our clients. None of the information furnished to us is shared with anyone else.
We receive requests from clients all over the World. Most of our customers are from USA, UK, Australia, Canada, UAE, Muscat, Oman, Qatar, UAE, New-Zealand, France Germany etc.
- Accounting Homework Help
- Accounting Assignment Help
- Computer Science Homework Help
- Management Homework Help
- Finance Assignment Help
- Online Essay Writing Help
- Strategic management case study help
- Case Study Assignment Help
- Dissertation Writing Help
- Trade finance case study help
- Project Management Assignment Help
- Mechanical Engineering Homework Help
- Online Quiz Help
- Maths homework Help
- Online Exam Help
- Economics Assignment Help
- Economics Homework Help
- English Homework Help
- Macroeconomics Homework Help
- Microeconomics Homework Help
- Statistics Assignment Help
- Australia Taxation Homework Help
- Supply chain management homework help
- Taxation homework help
- USA taxation assignment help
- Advanced accounting homework help online
- Auditing homework writing help
- Human resource management homework help
- Nursing homework help online
- Psychology homework help online
- Sociology homework help online
- Ratio analysis homework help online
- Strategic Management Homework Help Online
- Mba operations management homework help
- Human resource management homework help
- Operations management homework help
4. Star mart company inc issued $100000 of bonds payable on June 30 2010. The bonds are to be redeemed in five years while paying interest semiannually at the contract rate of 10% each June 30th and December 31st. The market or effective rate of interest is 12%. The amount of cash received initially from the bond issuance was $92640 on June 30,2010.
1)Record the initial bond issuance on June 30 2010 in general journal form.
2)Record the first interest payment on December 31, 2010
3)Record the first amortization of the bond discount on December 31,2010. The bond discount is amortized on the straight line method.
4)Record the second interest payment on June 30 2011
5)Record the third interest payment on December 31 2011
6)The company only records the amortization of the bond discount once a year. record the second amortization of the bond discount on December 31,2011 using the straight line method.
7)In T account form, what is the balance of the unmamorized Discount on Bonds payable at December 31,2011.
8)What is the total interest expense for year 2010
9)What is the total interest expense for the year 2011
10)List the bond carrying value for the bond at December 31 2011
5.How to calculate the interest rate if it is not presented?
Product Code: ACC503
Looking for Financial Accounting Manufacturing Statements And Income Statement Homework Help, please submit your details here with product code mentioned above.