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ACC 206 Class Notes Ashford

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Week 3 Assignment
ACC 206

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E16-17
Req. 1
Fido Grooming
Income Statement
Month of April
Income
Revenue 16300.00
Expenses
Wages (3900.00)
Grooming Supplies (1625.00)
Building Rent (1300.00)
Utilities (325.00)
Depreciation of Equiptment (130.00)
Net Income 9020 .00
Req. 2
Unit cost to groom one dog =7280/650=$11.20
P 16-25A
Req. 1
Fido Treats
Schedule of Cost of Goods Manufactured
Year Ended December 31, 2012
Beginning work in process inventory $ 0
Direct materials used:
Beginning direct materials inventory $13,400
Purchases of direct materials 33,000
Available for use $46,400

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Week 3 Assignment ACC 206 E16-17 Req. 1 Fido Grooming Income Statement Month of April Income Revenue 16300.00 Expenses Wages (3900.00) Grooming Supplies (1625.00) Building Rent (1300.00) Utilities (325.00) Depreciation of Equiptment (130.00) Net Income 9020.00 Req. 2 Unit cost to groom one dog =7280/650=$11.20 P 16-25A Req. 1 Fido Treats Schedule of Cost of Goods Manufactured Year Ended December 31, 2012 Beginning work in process inventory $ 0 Direct materials used: Beginning direct materials inventory $13,400 Purchases of direct materials 33,000 Available for use $46,400 Ending direct materials inventory (9,500) Direct materials used $36,900 Direct labor 22,000 Manufacturing overhead: Rent on plant $13,000 Utilities for plant 1,600 Plant janitorial services 800 Total manufacturing overhead 15,400 Total manufacturing costs incurred during the year 74,300 Total manufacturing costs to account for $74,300 Ending work in process inventory (2,000) Cost of goods manufactured $72,300 Fido Treats Income Statement Year Ending December 31, 2012 Sales Revenue 109000.00 Cost of Goods Sold Cost of Goods Manufactured (80400.00) Ending Finished Goods Inventory 5300.00 Cost of Goods Sold 33900.00 Gross Profit 33900.00 ** Operating Income was included in Cost of Goods Manufactured Req 3. The manufacturing income ...
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