Module 9 Assignment:
The following information was available for Hamilton Industries for the year 20XX:
|
Inventories |
1-Jan |
31-Dec |
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|
Materials |
$85,000 |
$105,000 |
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|
Work in process |
120,000 |
105,000 |
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|
Finished goods |
125,000 |
110,000 |
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|
Advertising expense |
$75,000 |
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|
Depreciation expense-office equipment |
25,000 |
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|
Depreciation expense-factory equipment |
16,000 |
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|
Direct Labor |
205,000 |
||||
|
Heat, light, and power-factory |
6,500 |
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|
Indirect labor |
26,000 |
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|
Materials purchased |
135,000 |
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|
Office salaries expense |
85,000 |
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|
Property taxes-factory |
4,500 |
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|
Property taxes-headquarters |
15,000 |
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|
Rent expense-factory |
7,500 |
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|
Sales |
950,000 |
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|
Sales salaries expense |
150,000 |
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|
Supplies-factory |
3,500 |
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|
Miscellaneous cost-factory |
4,500 |
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Requirements:
- Prepare the 20XX statement of cost of goods manufactured.
- Prepare the 20XX income statement.