A gift shop had overhead expenses totalling $2,757 during the month of July. The business recorded departmental sales for the month of July as follows: china, $3,975; silver, $8,990; crystal, $2,976; linens, $1,999; new gifts, $6,268; antiques, $8,705. Use this information to find the overhead for each department based on sales. Enter the overhead values for each department. Department Overhead China Silver Crystal Linens New Gifts $ S S $ Antiques (Do not round until the final answer. Then round to the nearest cent as needed.)
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- Columbine Company makes artificial flowers and reports the following data for the month: Journalize the entries relating to materials and labor. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Purchases of materials, on account $48,000 Materials requisitions: Direct materials 39,500 Indirect materials 300 Labor incurred (not yet paid): Direct labor 27,600 Indirect labor 1,940Tiny's Toys has the following financial information for the month of July available: Revenues Beginning Materials Inventory Ending Materials Inventory Beginning Work-in-Process Inventory Ending Work-in-Process Inventory Beginning Finished Goods Inventory Ending Finished Goods Inventory Purchase of Materials Direct Labor Manufacturing Overhead Selling and Administrative Expenses $300,000 20,000 30,000 15,000 17,000 14,000 13,000 115,000 27,000 33,000 50,000 Based on the above, what is the net income for July? $136,000 $135,000 $164,000 $86,000Zoe Corporation has the following information for the month of March: Purchases $92,000 Materials inventory, March 1 6,000 Materials inventory, March 31 8,000 Direct labor 25,000 Factory overhead 37,000 Work in process, March 1 22,000 Work in process, March 31 23,500 Finished goods inventory, March 1 21,000 Finished goods inventory, March 31 30,000 Sales 257,000 Sales and administrative expenses 79,000 Required: Prepare (a) a statement of cost of goods manufactured, (b) an income statement for the month ended March 31, and (c) the inventory section of the balance sheet. Refer to the Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. “Less” or “Plus” will automatically appear if it is required. You will not need to enter colons (:) on the financial statements. Prepare a statement of cost of goods manufactured.…
- Marzoni's records show raw materials inventory had a beginning balance of $300 and an ending balance of $200. If the cost of materials used during the month was $1,200, what were the purchases made during the month?Azzarelli, Corp makes picture frames and reports the following for the month of May: Description Amount Purchases of materials on account 53,330 Subcategory,Materials requisitions: Direct Materials 49,730 Indirect Materials 1,280 Subcategory,Labor costs incurred (not yet paid): Direct Materials 24,520 Indirect Materials 1,920 Journalize the entries at the end of the month to record the transactions relating to materials and labor.Journal Date Description Debit Credit May 31 May 31 May 31 May 31 May 31 May 31 May 31 May 31Zoe Corporation has the following information for the month of March: Purchases $92,000 Materials inventory, March 1 6,000 Materials inventory, March 31 8,000 Direct labor 25,000 Factory overhead 37,000 Work in process inventory, March 1 22,000 Work in process inventory, March 31 23,500 Finished goods inventory, March 1 21,000 Finished goods inventory, March 31 30,000 Sales 257,000 Sales and administrative expenses 79,000 a. Prepare a statement of cost of goods manufactured. Zoe Corporation Statement of Cost of Goods Manufactured For the Month Ended March 31 $ Direct materials: $ $ Cost of direct materials used $ Total manufacturing costs incurred Total manufacturing costs $ Cost of goods manufactured $ b. Prepare an income statement for the month ended March 31. Zoe Corporation Income Statement For the Month Ended…
- The accounts of Delphinia Dreams, Inc. showed the following balances at the beginning of October: Account Debit Raw Materials Inventory $32,000 Work−in−Process Inventory 41,000 Finished Goods Inventory 52,000 Manufacturing Overhead 24,000 During the month, direct materials amounting to $22,000 and indirect materials amounting to $7,000 were issued to production. What is the ending balance in the Work−in−Process Inventory account following these two transactions? A. $41,000 B. $11,000 C. $63,000 D. $31,000Zoe Corporation has the following information for the month of March: Purchases $92,000 Materials inventory, March 1 6,000 Materials inventory, March 31 8,000 Direct labor 25,000 Factory overhead 37,000 Work in process inventory, March 1 22,000 Work in process inventory, March 31 23,500 Finished goods inventory, March 1 21,000 Finished goods inventory, March 31 30,000 Sales 257,000 Sales and administrative expenses 79,000 a. Prepare a statement of cost of goods manufactured. Zoe Corporation Statement of Cost of Goods Manufactured For the Month Ended March 31 $fill in the blank 178f7ef66fe6fcc_2 Direct materials: $fill in the blank 178f7ef66fe6fcc_4 fill in the blank 178f7ef66fe6fcc_6 $fill in the blank 178f7ef66fe6fcc_8 fill in the blank 178f7ef66fe6fcc_10 Cost of direct materials used $fill in the blank 178f7ef66fe6fcc_11 fill in the blank 178f7ef66fe6fcc_13 fill in the…Zoe Corporation has the following information for the month of March: Purchases $92,000 Materials inventory, March 1 6,000 Materials inventory, March 31 8,000 Direct labor 25,000 Factory overhead 37,000 Work in process, March 1 22,000 Work in process, March 31 23,500 Finished goods inventory, March 1 21,000 Finished goods inventory, March 31 30,000 Sales 257,000 Sales and administrative expenses 79,000 a. Prepare a schedule of cost of goods manufactured. Zoe Corporation Statement of Cost of Goods Manufactured For Month Ended March 31 $fill in the blank 5f53d1f87fb9015_2 Direct Materials: $fill in the blank 5f53d1f87fb9015_4 fill in the blank 5f53d1f87fb9015_6 $fill in the blank 5f53d1f87fb9015_8 fill in the blank 5f53d1f87fb9015_10 Cost of direct materials used $fill in the blank 5f53d1f87fb9015_11 fill in the blank 5f53d1f87fb9015_13 fill in the blank 5f53d1f87fb9015_15…
- Zoe Corporation has the following information for the month of March: Purchases $92,000 Materials inventory, March 1 6,000 Materials inventory, March 31 8,000 Direct labor 25,000 Factory overhead 37,000 Work in process, March 1 22,000 Work in process, March 31 23,500 Finished goods inventory, March 1 21,000 Finished goods inventory, March 31 30,000 Sales 257,000 Sales and administrative expenses 79,000 a. Prepare a schedule of cost of goods manufactured. Zoe Corporation Statement of Cost of Goods Manufactured For Month Ended March 31 Beginning work in process inventory, March 1 $fill in the blank 857f0a0ad075ffa_2 Direct Materials: Beginning materials inventory $fill in the blank 857f0a0ad075ffa_4 Purchases fill in the blank 857f0a0ad075ffa_6 Cost of materials available for use $fill in the blank 857f0a0ad075ffa_8 Less ending materials inventory fill in the blank 857f0a0ad075ffa_10 Cost of direct…Zoe Corporation has the following information for the month of March: Purchases $92,000 Materials inventory, March 1 6,000 Materials inventory, March 31 8,000 Direct labor 25,000 Factory overhead 37,000 Work in process, March 1 22,000 Work in process, March 31 23,500 Finished goods inventory, March 1 21,000 Finished goods inventory, March 31 30,000 Sales 257,000 Sales and administrative expenses 79,000 a. Prepare a schedule of cost of goods manufactured. Zoe Corporation Statement of Cost of Goods Manufactured For Month Ended March 31 $ Direct Materials: $ $ Cost of direct materials used $ Total manufacturing costs incurred Total manufacturing costs $ Cost of goods manufactured $ b. Prepare an income statement for the month ended March 31. Zoe Corporation Income Statement For Month Ended March 31 $ Cost of…Overhead for one month at the Allimore Department store totaled $6000. Find the overhead for each of the departments, based on sales, if the store had the following monthly sales by department: toys, $3900; appliances, $6000; children's clothing, $6800; books, $5000; and furniture, $8100. Enter the overhead values for each department. Department Overhead Toys Appliances $ Children's Clothing Books Furniture (Do not round until the final answer. Then round to the nearest cent as needed.)