Alhambra Aluminum Company, a manufacturer of recyclable soda cans, had the follo
ID: 2609004 • Letter: A
Question
Alhambra Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1.
During 20x1, the company purchased $260,000 of raw material and spent $400,000 for direct labor. Manufacturing overhead costs were as follows:
Sales revenue was $1,111,000 for the year. Selling and administrative expenses for the year amounted to $110,000. The firm's tax rate is 40 percent.
1.
value:
3.30 points
Required information
References
eBook & Resources
ExerciseLearning Objective: 02-01 Explain what is meant by the word cost.Learning Objective: 02-06 Prepare a schedule of cost of goods manufactured, a schedule of cost of goods sold, and an income statement for a manufacturer.
Difficulty: MediumLearning Objective: 02-03 Describe the role of costs in published financial statements.
Check my work
2.
value:
3.30 points
Required information
References
eBook & Resources
ExerciseLearning Objective: 02-01 Explain what is meant by the word cost.Learning Objective: 02-06 Prepare a schedule of cost of goods manufactured, a schedule of cost of goods sold, and an income statement for a manufacturer.
Difficulty: MediumLearning Objective: 02-03 Describe the role of costs in published financial statements.
Check my work
3.
value:
3.40 points
Required information
Alhambra Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1.
Explanation / Answer
1. Cost of goods manufactured :
Manufacturing overhead :
Cost of goods sold schedule :
3. Income statement :
Beginning work in process 120000 Beginning raw material inventory 60000 Raw material purchase 260000 Less: Ending raw material inventory (70000) Raw material used 250000 Direct labour 400000Manufacturing overhead :
Indirect material 10000 Indirect labour 23000 Depreciation on plant and equipment 100000 Utilities 23000 Others 30000 186000 Total manufacturing cost 836000 Total cost of work in process 956000 Less: Ending work in process (115000) Cost of goods manufactured 841000Related Questions
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