Sign Up

Sign Up to our social questions and Answers Engine to ask questions, answer people’s questions, and connect with other people.

Have an account? Sign In

Have an account? Sign In Now

Sign In

Login to our social questions & Answers Engine to ask questions answer people’s questions & connect with other people.

Sign Up Here

Forgot Password?

Don't have account, Sign Up Here

Forgot Password

Lost your password? Please enter your email address. You will receive a link and will create a new password via email.

Have an account? Sign In Now

You must login to ask question.(5)

Forgot Password?

Need An Account, Sign Up Here

Please briefly explain why you feel this question should be reported.

Please briefly explain why you feel this answer should be reported.

Please briefly explain why you feel this user should be reported.

Sign InSign Up

ITtutoria

ITtutoria Logo ITtutoria Logo

ITtutoria Navigation

  • Python
  • Java
  • Reactjs
  • JavaScript
  • R
  • PySpark
  • MYSQL
  • Pandas
  • QA
  • C++
Ask A Question

Mobile menu

Close
Ask a Question
  • Home
  • Python
  • Science
  • Java
  • JavaScript
  • Reactjs
  • Nodejs
  • Tools
  • QA
Home/ Questions/At May 31, 2020, the accounts of Lopez Company show the following. 1. May 1 inventories-finished...
Next
Answered
tmntuto
  • 13
tmntuto
Asked: April 11, 20222022-04-11T19:33:13+00:00 2022-04-11T19:33:13+00:00In: Accounting

At May 31, 2020, the accounts of Lopez Company show the following. 1. May 1 inventories-finished…

  • 13

. Advertisement .

..3..

. Advertisement .

..4..

......... ADVERTISEMENT .........

..8..

At May 31, 2020, the accounts of Lopez Company show the following. 1. May 1 inventories-finished...

......... ADVERTISEMENT .........

..8..

At May 31, 2020, the accounts of Lopez Company show the following. 1. May 1 inventories-finished...

......... ADVERTISEMENT .........

..8..

At May 31, 2020, the accounts of Lopez Company show the following. 1. May 1 inventories-finished...

......... ADVERTISEMENT .........

..8..

At May 31, 2020, the accounts of Lopez Company show the following. 1. May 1 inventories-finished...

At May 31, 2020, the accounts of Lopez Company show the following.
1. May 1 inventories-finished goods $14,000, work in process $17,600, and raw materials $8,400.
2. May 31 inventories-finished goods $9,600, work in process $18,000, and raw materials $8,000.
3. Debit postings to work in process were direct materials $65,100, direct labor $51,600, and manufacturing overhead applied $40,200. (Assume that overhead applied was equal to overhead incurred.)
4. Sales revenue totaled $216,500.
Prepare a condensed cost of goods manufactured schedule.
Prepare an income statement for May through gross profit. 
Indicate the balance sheet presentation of the manufacturing inventories at May 31, 2020. 
♦ Relevant knowledge
The price of goods produced or CGM is shown beginning with the inventory of work in progress (WIP). The total manufacturing cost comprised of direct materials utilized as well as direct labor , and manufacturing overhead that are applied, is then added to the WIP at the beginning to calculate the total working in progress.
incomeinventories-finishedsale
  • 1 1 Answer
  • 12 Views
  • 0 Followers
  • 0
Answer
Share
  • Facebook
  • Report

1 Answer

  • Voted
  • Oldest
  • Recent
  • Random
  1. Best Answer
    Joanne O'Sullivan
    2022-04-12T00:13:54+00:00Added an answer on April 12, 2022 at 12:13 am

    • 6
    • Reply
    • Share
      Share
      • Share on Facebook
      • Share on Twitter
      • Share on LinkedIn
      • Share on WhatsApp
      • Report

Leave an answer
Cancel reply

You must login to add an answer.

Forgot Password?

Need An Account, Sign Up Here

Sidebar

Ask A Question
  • How to Split String by space in C++
  • How To Convert A Pandas DataFrame Column To A List
  • How to Replace Multiple Characters in A String in Python?
  • How To Remove Special Characters From String Python

Explore

  • Home
  • Tutorial

Footer

ITtutoria

ITtutoria

This website is user friendly and will facilitate transferring knowledge. It would be useful for a self-initiated learning process.

@ ITTutoria Co Ltd.

Tutorial

  • Home
  • Python
  • Science
  • Java
  • JavaScript
  • Reactjs
  • Nodejs
  • Tools
  • QA

Legal Stuff

  • About Us
  • Terms of Use
  • Privacy Policy
  • Contact Us

DMCA.com Protection Status

Help

  • Knowledge Base
  • Support

Follow

© 2022 Ittutoria. All Rights Reserved.

Insert/edit link

Enter the destination URL

Or link to existing content

    No search term specified. Showing recent items. Search or use up and down arrow keys to select an item.