Scribd Logo
Upload

Welcome to Scribd!

  • 35 views

    Orlando Manufacturing Company Makes Camping Equipment Selected Account Balances Listed

    Uploaded by

    Miroslav Gegoski
    Orlando Manufacturing Company makes camping equipment. The document provides selected account balances for Orlando Manufacturing on December 31, 2016, including depreciation, labor, materials, tax, and inventory accounts. It also lists beginning and ending inventory amounts for 2016. The instructions are to prepare a statement of cost of goods manufactured and an income statement for 2016 using the provided accounts and inventory data.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Orlando Manufacturing Company Makes Camping Equipment Selected Account Balances Listed

    Uploaded by

    Miroslav Gegoski
    35 views1 page
    Orlando Manufacturing Company makes camping equipment. The document provides selected account balances for Orlando Manufacturing on December 31, 2016, including depreciation, labor, materials, tax, and inventory accounts. It also lists beginning and ending inventory amounts for 2016. The instructions are to prepare a statement of cost of goods manufactured and an income statement for 2016 using the provided accounts and inventory data.

    Original Description:

    Orlando Manufacturing Company Makes Camping Equipment Selected Account Balances Listed

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Orlando Manufacturing Company makes camping equipment. The document provides selected account balances for Orlando Manufacturing on December 31, 2016, including depreciation, labor, materials, tax, and inventory accounts. It also lists beginning and ending inventory amounts for 2016. The instructions are to prepare a statement of cost of goods manufactured and an income statement for 2016 using the provided accounts and inventory data.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    35 views1 page

    Orlando Manufacturing Company Makes Camping Equipment Selected Account Balances Listed

    Uploaded by

    Miroslav Gegoski
    Orlando Manufacturing Company makes camping equipment. The document provides selected account balances for Orlando Manufacturing on December 31, 2016, including depreciation, labor, materials, tax, and inventory accounts. It also lists beginning and ending inventory amounts for 2016. The instructions are to prepare a statement of cost of goods manufactured and an income statement for 2016 using the provided accounts and inventory data.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    Orlando Manufacturing Company makes camping

    equipment Selected account balances listed #8011


    Orlando Manufacturing Company makes camping equipment. Selected account balances (listed
    alphabetically) for this firm on December 31, 2016, the end of its fiscal year, are given below.
    Data about the beginning and ending inventories is also shown.Accounts BalancesDepreciation-
    Factory Assets.............................................$ 9,000Depreciation Expense-Office
    Assets......................................3,000Direct
    Labor.................................................................,180,000Freight
    In......................................................................12,000Income Tax
    Expense.........................................................28,230Indirect
    Labor.................................................................18,000Indirect Materials and Supplies..................
    ............................7,000Insurance-Factory..........................................................12,000Materials
    Purchases.........................................................325,000Office Salaries
    Expense.....................................................30,000Officers' Salaries
    Expense................................................150,000Other Administrative
    Expenses.............................................1,800Other Selling
    Expenses......................................................12,000Payroll Taxes Expense-
    Administration.................................18,000Payroll Taxes Expense-
    Factory..........................................19,800Payroll Taxes Expense-Sales
    Salaries.....................................9,000Property Taxes-
    Office.......................................................2,000Property Taxes-
    Factory......................................................5,000Purchases Returns and
    Allowances..........................................4,000Repairs and Maintenance-
    Factory.........................................3,200Repairs and Maintenance-Office.......................................
    ...1,000Sales........................................................................1,105,000Sales Returns and
    Allowances................................................5,000Sales Salaries
    Expense.......................................................90,000Inventory Data Jan. 1, 2016 Dec. 31,
    2016Finished Goods Inventory.................$30,000...................$32,000Work in Process
    Inventory..................30,000.....................25,000Raw Materials
    Inventory....................25,000.....................20,000INSTRUCTIONS1. Prepare a statement of
    cost of goods manufactured for 2016.2. Prepare an income statement for 2016.Analyze:What
    percentage of cost of goods manufactured did the company spend on raw materials? On direct
    labor costs? On overhead costs?View Solution:
    Orlando Manufacturing Company makes camping equipment Selected account balances listed

    ANSWER
    http://paperinstant.com/downloads/orlando-manufacturing-company-makes-camping-equipment-
    selected-account-balances-listed/

    1/1
    Powered by TCPDF (www.tcpdf.org)

    You might also like