[The following information applies to the questions displayed below.] The following data refer to Huron Corporation for the year 20x2. $ Sales revenue Raw-material inventory, 12/31/x1 Purchases of raw material in 20x2 Raw-material inventory, 12/31/x2 Direct-labor cost incurred Selling and administrative expenses Indirect labor cost incurred Property taxes on factory Depreciation on factory building Income tax expense Indirect material used Depreciation on factory equipment Insurance on factory and equipment Utilities for factory Work-in-process inventory, 12/31/x1 Work-in-process inventory, 12/31/x2 Finished-goods inventory, 12/31/x1 Finished-goods inventory, 12/31/x2 Applied manufacturing overhead Direct material: Required: . Prepare Huron's schedule of cost of goods manufactured for 20x2. Raw material available for use HURON CORPORATION Schedule of Cost of Goods Manufactured For the Year Ended December 31, 20X2 Raw material used Direct labor Manufacturing overhead: MORE Total actual manufacturing overhead Overhead applied to work in process Total manufacturing costs Subtotal Cost of goods manufactured 2,105,000 89,000 730,000 59,000 474,000 268,000 151,000 91,000 $ $ 126,000 24,000 45,000 60,000 41,000 70,000 0 40,000 34,000 40,000 577,500 0 $ $ $ $ 0 0 0 0 0
[The following information applies to the questions displayed below.] The following data refer to Huron Corporation for the year 20x2. $ Sales revenue Raw-material inventory, 12/31/x1 Purchases of raw material in 20x2 Raw-material inventory, 12/31/x2 Direct-labor cost incurred Selling and administrative expenses Indirect labor cost incurred Property taxes on factory Depreciation on factory building Income tax expense Indirect material used Depreciation on factory equipment Insurance on factory and equipment Utilities for factory Work-in-process inventory, 12/31/x1 Work-in-process inventory, 12/31/x2 Finished-goods inventory, 12/31/x1 Finished-goods inventory, 12/31/x2 Applied manufacturing overhead Direct material: Required: . Prepare Huron's schedule of cost of goods manufactured for 20x2. Raw material available for use HURON CORPORATION Schedule of Cost of Goods Manufactured For the Year Ended December 31, 20X2 Raw material used Direct labor Manufacturing overhead: MORE Total actual manufacturing overhead Overhead applied to work in process Total manufacturing costs Subtotal Cost of goods manufactured 2,105,000 89,000 730,000 59,000 474,000 268,000 151,000 91,000 $ $ 126,000 24,000 45,000 60,000 41,000 70,000 0 40,000 34,000 40,000 577,500 0 $ $ $ $ 0 0 0 0 0
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter1: Introduction To Managerial Accounting
Section: Chapter Questions
Problem 5PA: Statement of cost of goods manufactured and income statement for a manufacturing company The...
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4
![Required information
[The following information applies to the questions displayed below.]
The following data refer to Huron Corporation for the year 20x2.
$
Sales revenue
Raw-material inventory, 12/31/x1
Purchases of raw material in 20x2
Raw-material inventory, 12/31/x2
Direct-labor cost incurred
Selling and administrative
expenses
Indirect labor cost incurred
Property taxes on factory
Depreciation on factory building
Income tax expense
Indirect material used
Depreciation on factory equipment
Insurance on factory and
equipment
Utilities for factory
Work-in-process inventory,
12/31/x1
Work-in-process inventory,
12/31/x2
Finished-goods inventory,
12/31/x1
Finished-goods inventory,
12/31/x2
Applied manufacturing overhead
Direct material:
Raw material available for use
Required:
1. Prepare Huron's schedule of cost of goods manufactured for 20x2.
HURON CORPORATION
Schedule of Cost of Goods Manufactured
For the Year Ended December 31, 20X2
Raw material used
Direct labor
Manufacturing overhead:
Total actual manufacturing overhead
Overhead applied to work in process
Total manufacturing costs
Subtotal
Cost of goods manufactured
2,105,000
89,000
730,000
$
$
0
59,000
474,000
268,000
151,000
91,000
126,000
24,000
45,000
60,000
41,000
70,000
0
40,000
34,000
40,000
577,500
$
$
0
$
$
0
0
0
0
0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbfcf1573-4098-4fdf-aa4e-888c4fa834cc%2Fc3fbcefd-c375-4c01-bfd6-faad00384702%2F92doki_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
The following data refer to Huron Corporation for the year 20x2.
$
Sales revenue
Raw-material inventory, 12/31/x1
Purchases of raw material in 20x2
Raw-material inventory, 12/31/x2
Direct-labor cost incurred
Selling and administrative
expenses
Indirect labor cost incurred
Property taxes on factory
Depreciation on factory building
Income tax expense
Indirect material used
Depreciation on factory equipment
Insurance on factory and
equipment
Utilities for factory
Work-in-process inventory,
12/31/x1
Work-in-process inventory,
12/31/x2
Finished-goods inventory,
12/31/x1
Finished-goods inventory,
12/31/x2
Applied manufacturing overhead
Direct material:
Raw material available for use
Required:
1. Prepare Huron's schedule of cost of goods manufactured for 20x2.
HURON CORPORATION
Schedule of Cost of Goods Manufactured
For the Year Ended December 31, 20X2
Raw material used
Direct labor
Manufacturing overhead:
Total actual manufacturing overhead
Overhead applied to work in process
Total manufacturing costs
Subtotal
Cost of goods manufactured
2,105,000
89,000
730,000
$
$
0
59,000
474,000
268,000
151,000
91,000
126,000
24,000
45,000
60,000
41,000
70,000
0
40,000
34,000
40,000
577,500
$
$
0
$
$
0
0
0
0
0
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