P19-4A The following data were taken from the records of Stellar Manufacturing C
ID: 2350993 • Letter: P
Question
P19-4AThe following data were taken from the records of Stellar Manufacturing Company for the fiscal year ended June 30, 2012.
Raw Materials Inventory 7/1/11 $ 48,000 Factory Machinery Depreciation $ 16,000
Raw Materials Inventory 6/30/12 39,600 Factory Utilities 27,600
Finished Goods Inventory 7/1/11 96,000 Office Utilities Expense 8,650
Finished Goods Inventory 6/30/12 95,900 Sales 554,000
Work in Process Inventory 7/1/11 19,800 Sales Discounts 4,200
Work in Process Inventory 6/30/12 18,600 Plant Manager's Salary 29,000
Direct Labor 149,250 Factory Property Taxes 9,600
Indirect Labor 24,460 Factory Repairs 1,400
Accounts Receivable 27,000 Raw Materials Purchases 96,400
Factory Insurance 4,600 Cash 32,000
Complete the cost of goods manufactured schedule. (Assume all raw materials used were direct materials.) (List amounts from largest to smallest e.g. 10, 5, 3, 2.)
STELLAR MANUFACTURING COMPANY
Cost of Goods Manufactured Schedule
For the Year Ended June 30, 2012
$
Direct materials
$
Total raw materials available for use
Less:
$
Direct labor
Manufacturing overhead
Total manufacturing overhead
Total manufacturing costs
Total cost of work in process
Less:
Cost of goods manufactured
$
Complete an income statement through gross profit.
STELLAR MANUFACTURING COMPANY
(Partial) Income Statement
For the Year Ended June 30, 2012
Sales revenues
$
Less:
Net sales $
Cost of goods sold
Cost of goods manufactured
Cost of goods available for sale
Less:
Cost of goods sold
Gross profit
Complete the current assets section of the balance sheet at June 30, 2012. (List current assets in order of liquidity.)
STELLAR MANUFACTURING COMPANY
(Partial) Balance Sheet
June 30, 2012
Current assets
$
Inventories
$
Total current assets
$
Explanation / Answer
please be specific make ur question cut into pieces for better undrstanding
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