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    Cost System and Cost Accumulation - Kelompok 6

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    JessicaTheLazy Player
    Kelompok 6 consists of 4 members: Adriana Milla, Melenia Asuan, Jessica, and Antonina Mikhal M. The document then provides 3 schedules for the Cost of Goods Sold statement for 3 different companies (Howell Corporation, Piedmont Corporation, and Calender Corporation) for the year ending 2021. Each schedule details the direct materials, direct labor, factory overhead, and cost of goods manufactured, available, and sold for each company.

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    © All Rights Reserved
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    Cost System and Cost Accumulation - Kelompok 6

    Uploaded by

    JessicaTheLazy Player
    54 views9 pages
    Kelompok 6 consists of 4 members: Adriana Milla, Melenia Asuan, Jessica, and Antonina Mikhal M. The document then provides 3 schedules for the Cost of Goods Sold statement for 3 different companies (Howell Corporation, Piedmont Corporation, and Calender Corporation) for the year ending 2021. Each schedule details the direct materials, direct labor, factory overhead, and cost of goods manufactured, available, and sold for each company.

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    Cost System and Cost Accumulation - Kelompok 6.xlsx

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    Kelompok 6 consists of 4 members: Adriana Milla, Melenia Asuan, Jessica, and Antonina Mikhal M. The document then provides 3 schedules for the Cost of Goods Sold statement for 3 different companies (Howell Corporation, Piedmont Corporation, and Calender Corporation) for the year ending 2021. Each schedule details the direct materials, direct labor, factory overhead, and cost of goods manufactured, available, and sold for each company.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    54 views9 pages

    Cost System and Cost Accumulation - Kelompok 6

    Uploaded by

    JessicaTheLazy Player
    Kelompok 6 consists of 4 members: Adriana Milla, Melenia Asuan, Jessica, and Antonina Mikhal M. The document then provides 3 schedules for the Cost of Goods Sold statement for 3 different companies (Howell Corporation, Piedmont Corporation, and Calender Corporation) for the year ending 2021. Each schedule details the direct materials, direct labor, factory overhead, and cost of goods manufactured, available, and sold for each company.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 9

    Kelompok 6

    Nama Anggota:
    1. Adriana Milla (222114085)
    2. Melenia Asuan (222114080)
    3. Jessica (222114085)
    4. Antonina Mikhal .M. (222114087)

    1. a) Schedule for the goods of sold manufactured for 2021


    Direct materials:
    Materials inventory, bg of 2021 …........... $65,000
    Purchases ............................................ 128,000

    Materials available for use ….................. 193,000


    Less: Indirect materials used …. 14,000
    Materials in, ed of 2021.. 34,000 48,000

    Direct materials consumed ….................. 145,000

    Direct labor …......................................................... 106,000

    Factory overhead:
    Indirect materials …................................................ 14,000
    Indirect labor …...................................................... 48,000
    Depreciation …....................................................... 21,000
    Insurance …........................................................... 2,000
    General factory overhead …................................... 148,000 233,000

    Total manufactoring cost ….................................... 484,000

    Work in process inventoy, bg of 2021 …................... 83,000


    567,000
    Work in process inventory, ed of 2021 …................. 72,000

    Cost of goods manufactured …............................... 495,000

    Finished goods inventory, bg of 2021 ….................. 123,000

    Cost of goods available for sale …........................... 618,000


    Finished goods inventroy, ed of 2021 ….................. 102,000

    Cost of goods sold …............................................. 516,000

    2. a) The Howell Corporation


    Schedule 1
    Cost of Goods Sold Statement
    For the Year Ending December 31, 2021.
    Direct materials
    Materials inventory, Jan 1 ….................................................. $15
    Purchases ….......................................................................... 325

    Materials available for use ….................................................. 340


    Indirect materials used ….................................................. 0
    Materials inventory, Dec 31 …........................... 20 20

    Direct materials consumed ….................................................

    Direct labor …........................................................................................

    Factory overhead:
    Indirect materials …............................................................................... 0
    Indirect labor …..................................................................................... 60
    Depreciation …...................................................................................... 80
    Plant supervisory salaries …................................................................... 5
    Miscellaneous plant overhead …............................................................ 35

    Plant supplies used …............................................................................ 10


    Plant utilities …..................................................................................... 30

    Total manufacturing cost .....................................................................

    Work inprocess inventory, Jan 1 …........................................................

    Work in process inventory, Dec 31 ….....................................................

    Cost of goods manufactured …..............................................................

    Finished goods inventory, Jan 1 …..........................................................


    Cost of goods available for sale …..........................................................
    Finished goods inventory, Dec 31 ….......................................................

    Cost of goods sold ….............................................................................

    3.a) Calender Corporation


    Schedule 1
    Cost of Goods Sold Statement
    For The Year Ending, December 31 2021
    Direct materials:
    Materials inventory, Jan 1 2021 ….......................................... $32
    Purchases ….......................................................................... 84

    Materials available for use …................................................. 116


    Indirect materials used …................................................... 0
    Materials inventory, Dec 31 …........................... 8 8
    Direct materials consumed …................................................

    Direct labor ….......................................................................

    Factory overhead:
    Indirect materials ….............................................................. 0
    Indirect labor ….................................................................... 27
    Plant utilities ….................................................................... 9
    Depreciation plant and equipment ….................................... 6
    Miscellaneous manufacturing overhead …............................ 15
    Plant supplies used …........................................................... 4
    Property taxes on plant …..................................................... 2

    Total manufacturing cost .....................................................

    Work in process inventory, Jan 1 ….......................................

    Work in process inventory, Dec 31

    Cost of goods manufactured ….............................................

    Finished goods inventory, Jan 1 ….........................................

    Cost of goods available for sale ….........................................


    Finished goods inventory, Dec 31 …......................................

    Cost of goods sold …............................................................


    b) Piedmont Corporation
    Income Statement
    For The Year Ending 2021
    Sales …..................................................................................................
    COGS (Schedule 1) …..............................................................................

    Gross profit ….......................................................................................


    Expense: Plant utilities …...................................................................... 12,000
    Repairs and maintenance—plant …........................................ 8,000
    Marketing, distribution, and customer-service costs …............ 62,000
    General and administrative costs …........................................ 34,000

    Income from operations ….....................................................................


    Provision for income tax ….....................................................................

    Net income …........................................................................................

    b) The Howell Corporation


    Income statement
    For The Year Ending December 31, 2021
    Sales …..................................................................
    COGS (Schedule 1) …..............................................
    Gross profit: ….......................................................
    Expenses: Depreciation-plant and equipment …..... 80
    Plant supervisory salaries …................... 5
    Miscellaneous plant overhead .............. 35
    Marketing, dis, & cs costs …................... 240
    Plant utilities …..................................... 30

    320 Income from operations …....................................


    Provision for income tax …....................................
    100
    Net income ….......................................................

    220

    640

    10
    650
    5

    645

    70
    715
    55

    660

    b) Calender Corporation
    Income Statement
    For The Year Ending, Dec 31
    Sales …................................................................
    Cost of Goods Sold (Schedule 1) ….......................

    Gross profit:
    Expenses: Plant utilities ….................................... 9
    Depreciation—plant and equipment … 6
    Miscellaneous man. Overhead …......... 15
    Marketing, dis, & cs costs …................. 94
    108 Income from operations …..................................
    Provision for income tax …..................................
    42
    Net income ….....................................................

    63

    213

    18
    276
    3

    273

    47

    320
    11

    309
    $600,000,000
    516,000

    599,484,000

    116,000

    599,368,000
    0

    599,368,000

    $950
    900
    $50

    390

    ($340)
    0

    ($340)

    $355
    309

    $46

    124
    ($78)
    0

    ($78)

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