Scribd Logo
Upload

Welcome to Scribd!

  • 692 views

    Acco 3520 Tarea 1.2

    Uploaded by

    Nicol
    The document is a statement of costs and income for Robstown Corporation for the year ended December 31, 20Y8. It shows that the total manufacturing costs were $2,005,350 and cost of goods manufactured was $1,989,250. Total sales were $3,850,000 with cost of goods sold of $1,990,650, resulting in a gross profit of $1,859,350. Total operating expenses were $973,000, with net income of $886,350.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Acco 3520 Tarea 1.2

    Uploaded by

    Nicol
    692 views5 pages
    The document is a statement of costs and income for Robstown Corporation for the year ended December 31, 20Y8. It shows that the total manufacturing costs were $2,005,350 and cost of goods manufactured was $1,989,250. Total sales were $3,850,000 with cost of goods sold of $1,990,650, resulting in a gross profit of $1,859,350. Total operating expenses were $973,000, with net income of $886,350.

    Copyright

    © © All Rights Reserved

    Available Formats

    XLSX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document is a statement of costs and income for Robstown Corporation for the year ended December 31, 20Y8. It shows that the total manufacturing costs were $2,005,350 and cost of goods manufactured was $1,989,250. Total sales were $3,850,000 with cost of goods sold of $1,990,650, resulting in a gross profit of $1,859,350. Total operating expenses were $973,000, with net income of $886,350.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    692 views5 pages

    Acco 3520 Tarea 1.2

    Uploaded by

    Nicol
    The document is a statement of costs and income for Robstown Corporation for the year ended December 31, 20Y8. It shows that the total manufacturing costs were $2,005,350 and cost of goods manufactured was $1,989,250. Total sales were $3,850,000 with cost of goods sold of $1,990,650, resulting in a gross profit of $1,859,350. Total operating expenses were $973,000, with net income of $886,350.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 5
    At a glance
    Powered by AI
    The document provides information about the cost of goods manufactured, operating expenses, and net income for Robstown Corporation for the year ended December 31, 20Y8.

    The components of cost of goods manufactured are direct materials, direct labor, and factory overhead which includes indirect labor, depreciation, utilities, taxes, rent, supplies and miscellaneous costs.

    The components of operating expenses are selling expenses which include sales salaries, advertising, and administrative expenses which include depreciation, office salaries, and property taxes.

    Product Costs Period Costs

    Direct Materials Direct Labor Factory Overhead Selling Administrative


    Cost Cost Cost Cost Expense Expense
    A X
    B X
    C X
    D X
    E X
    F X
    G X
    H X
    I X
    J X
    K X
    L X
    M X
    N X
    O X
    P X
    Q X
    R X
    S X
    T X
    U X
    V X
    W X
    X X
    Y X
    Z X
    Robstown Corportation
    Statement of Cost of Goods Manufactured
    For the Year Ended December 31, 20Y8

    Work in process inventory, January 1, 20Y8…...........................................


    Direct Materials:
    Materials inventory, January 1, 20Y8…..................................... $ 44,250
    Purchases…............................................................................. $ 556,600
    Cost of materials available for use…........................................ $ 600,850
    Materials inventory, December 31, 20Y8…............................... $ (31,700)
    Cost of direct materials used $ 569,150
    Direct Labor …......................................................................................... $ 1,100,000
    Factory overhead:
    Indirect labor…....................................................................... $ 115,000
    Depreciation on factory equipment…...................................... $ 80,000
    Heat, light, and power-factory….............................................. $ 53,300
    Property taxes-factory….......................................................... $ 40,000
    Rent expense- factory….......................................................... $ 27,000
    Supplies- factory….................................................................. $ 9,500
    Miscellaneous costs- factory…................................................. $ 11,400
    Total factory overhead….......................................... $ 336,200
    Total manufacturing costs incurred in 20Y8…............................................
    Total manufacturing costs….....................................................................
    Work Iin process inventory, December 31, 20Y8…....................................
    Cost of goods manufactured….................................................................
    $ 63,900

    $ 2,005,350
    $ 2,069,250
    $ (80,000)
    1,989,250
    Robstown Corporation
    Income Statement
    For the Year Ended December 31, 20Y8

    Sales…....................................................................................................................
    Cost of goods sold:
    Finished goods inventory, January 1, 20Y8….............................................
    Cost of goods manufactured….................................................................
    Cost of goods available for sale….............................................................
    Finished goods inventory, December 31, 20Y8….......................................
    Cost of goods sold…................................................................
    Gross profit…..........................................................................................................
    Operating expense:
    Selling Expense:
    Sales salaries expense..…........................................................................ $ 200,000
    Advertising expense..…........................................................................... $ 400,000
    Total….....................................................................................................
    Administrative expense:
    Depreciation expense- office equipment….............................................. $ 30,000
    Office salaries expense…......................................................................... $ 318,000
    Property taxes- office building….............................................................. $ 25,000
    Total….....................................................................................................
    Total operating expense….......................................................................................
    Net income…..........................................................................................................
    0Y8

    $ 3,850,000

    $ 101,200
    $ 1,989,250
    $ 2,090,450
    $ (99,800)
    $ 1,990,650
    $ 1,859,350

    $ 600,000

    $ 373,000
    $ 973,000
    $ 886,350

    You might also like