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  • Shelsa Nabila - 027031801017 - LabAkbi

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    Shelsa Nabila
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    The document provides financial data for Superior Company for the year ended December 31, 2011. It includes accounts such as sales revenue, expenses, inventory amounts, and COGS calculations. The COGS statement shows that materials used were $1,267,000, direct labor was $65,000, and factory overhead was $127,400, for a total COGS of $1,459,400. The income statement indicates net sales of $4,089,000 and COGS of $1,442,700, resulting in a gross profit of $2,646,300. Total operating expenses were $814,700, giving an income from operations of $1,831,600.

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    The document provides financial data for Superior Company for the year ended December 31, 2011. It includes accounts such as sales revenue, expenses, inventory amounts, and COGS calculations. The COGS statement shows that materials used were $1,267,000, direct labor was $65,000, and factory overhead was $127,400, for a total COGS of $1,459,400. The income statement indicates net sales of $4,089,000 and COGS of $1,442,700, resulting in a gross profit of $2,646,300. Total operating expenses were $814,700, giving an income from operations of $1,831,600.

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    © All Rights Reserved
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    64 Ansichten6 Seiten

    Shelsa Nabila - 027031801017 - LabAkbi

    Hochgeladen von

    Shelsa Nabila
    The document provides financial data for Superior Company for the year ended December 31, 2011. It includes accounts such as sales revenue, expenses, inventory amounts, and COGS calculations. The COGS statement shows that materials used were $1,267,000, direct labor was $65,000, and factory overhead was $127,400, for a total COGS of $1,459,400. The income statement indicates net sales of $4,089,000 and COGS of $1,442,700, resulting in a gross profit of $2,646,300. Total operating expenses were $814,700, giving an income from operations of $1,831,600.

    Copyright:

    © All Rights Reserved
    Als XLSX, PDF, TXT herunterladen oder online auf Scribd lesen
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    von 6

    DATA

    Account Total
    Administrative salaries $ 179,000
    Attorney fees to settle zoning dispute $ 28,000
    Bad debt expense $ 10,200
    Building depreciation $ 283,500
    Materials purchased $ 1,260,000
    Distribution cost $ 7,200
    Insurance – factory machinery $ 65,000
    Maintenance – factory machinery $ 30,200
    Advertising expense $ 40,000
    Commission fee for salesperson $ 30,000
    Direct labor cost $ 65,000
    Indirect labor cost $ 20,200
    Marketing supervisor salaries $ 42,000
    Utilities $ 82,000
    Indirect material used $ 16,000
    Sales revenue $ 4,100,000
    Sales discount $ 11,000
    Property taxes $ 50,000
    Fire insurance - building $ 25,000
    Overtime premium paid $ 12,000
    Rental of office space for sales personnel $ 7,500
    Production supervisor’s salary $ 22,500
    Fringe benefit for production supervisor $ 15,000
    Materials inventory, Jan. 1 $ 30,000
    Work in Process inventory, Jan. 1 $ 90,600
    Finished Goods inventory, Jan.1 $ 265,000
    Materials inventory, Dec.31 $ 23,000
    Work in Process inventory, Dec.31 $ 92,300
    Finished Goods inventory, Dec.31 $ 280,000

    CALCULATION

    SUPERIOR COMPANY
    COGS STATEMENT
    For the year ended, Dec. 31, 2011
    Direct Materials Used:
    Direct Materials, January 1, 2011 $ 30,000
    Direct Materials Purchased $ 1,260,000
    Direct Materials Available for Use $ 1,290,000
    Direct Materials, December 31, 2011 $ (23,000)
    Direct Materials Used:
    Direct Labor cost
    Factory Overhead Actual
    Indirect Labor Cost $ 20,200
    Insurance - Factory Machinery $ 65,000
    Maintenance - Factory Machinery $ 30,200
    Overtime premium paid $ 12,000
    Total Factory Overhead
    Total Manufacturing cost
    Work in Process Inventory, Jan 1
    Cost of Goods Manufactured Accounted for
    Work in Process Inventory, Dec 31
    COGM
    Finished Goods Inventory, Jan 1
    COGAS
    Finished Goods Inventory, Dec 31
    COGS

    SUPERIOR COMPANY
    INCOME STATEMENT
    For the year ended, Dec. 31, 2011
    Net Sales:
    Sales Revenue $ 4,100,000
    Less: Sales Discount (11,000)
    Net Sales 4,089,000
    Less: COGS : (1,442,700)
    Gross Profit
    Less: Operating expenses:
    Administrative salaries 179,000
    Attorney fees to settle zoning dispute 28,000
    Advertising Expense 40,000
    Building depreciation 283,500
    Bad Debt Expense 10,200
    Commission fee for salesperson $ 30,000
    Marketing supervisor salaries 42,000
    Utilities 82,000
    Property Taxes $ 50,000
    Fire Insurance - Building 25,000
    Rental of office space for sales personnel 7,500
    Production supervisor's salary 22,500
    Fringe benefit for production supervisor 15,000
    $ 814,700
    Total Operating expenses
    Income (Loss) from Operating
    ON

    011
    $ 1,267,000
    $ 65,000

    $ 127,400
    $ 1,459,400
    $ 90,600
    $ 1,550,000
    $ (92,300)
    $ 1,457,700
    265,000
    $ 1,722,700
    (280,000)
    $ 1,442,700

    011

    $ 2,646,300
    $ (814,700)
    $ 1,831,600

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