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The following cost data relate to Taylor Products Company for the year ended June 30, 2005.

Direct Materials                                                                      $ 55,600

Direct Labor                                                                                72,400

Factory Overhead                                                                       36,500

Work in process inventory, July 1, 2004                                     38,200

Work in process inventory, June 30, 2005                                  34,800

Required:

  1. Calculate the manufacturing costs for the year.
  2. Calculate the cost of goods manufactured for the year.

 

Ex 2-5: Iowa Products Company accumulated the following data for 2005.

                                                                                    Jan 1, 2005                 Dec 31, 2005

Inventories:

            Finished Goods                                               $ 52,000                      $ 54,000

            Work in Process                                                 29,600                         27,800

            Raw materials                                                    14,200                         15,000

Direct labor                                                                                                        95,000

Raw material purchase            s                                                                                     138,000

Indirect labor                                                                                                      15,300

Indirect materials and supplies                                                                                       10,800

Factory utilities                                                                                                   18,600

Depreciation expense- Factory                                                                                       14,000

Factory rent                                                                                                         18,000

Payroll taxes- Factory wages                                                                                8,100

Repairs and maintenance                                                                                      6,000

Insurance expense- Factory                                                                                  6,800

Miscellaneous factory expenses                                                                            5,200

Sales                                                                                                                  710,000

Sales discount                                                                                                     12,000

Selling expenses                                                                                                  95,600

General expenses                                                                                                75,300

Interest expenses                                                                                                   7,000

Required:

  1. Prepare a statement of cost of goods manufactured.
  2. Prepare an income statement (assume an income tax rate of 25%)

 

 

 

 

 

 

 

 

 

 

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Ex 2-5: Iowa Products Company accumulated the following data for 2005.

                                                                                    Jan 1, 2005                 Dec 31, 2005

Inventories:

            Finished Goods                                               $ 52,000                      $ 54,000

            Work in Process                                                 29,600                         27,800

            Raw materials                                                    14,200                         15,000

Direct labor                                                                                                        95,000

Raw material purchase            s                                                                                     138,000

Indirect labor                                                                                                      15,300

Indirect materials and supplies                                                                                       10,800

Factory utilities                                                                                                   18,600

Depreciation expense- Factory                                                                                       14,000

Factory rent                                                                                                         18,000

Payroll taxes- Factory wages                                                                                8,100

Repairs and maintenance                                                                                      6,000

Insurance expense- Factory                                                                                  6,800

Miscellaneous factory expenses                                                                            5,200

Sales                                                                                                                  710,000

Sales discount                                                                                                     12,000

Selling expenses                                                                                                  95,600

General expenses                                                                                                75,300

Interest expenses                                                                                                   7,000

Required:

  1. Prepare a statement of cost of goods manufactured.
  2. Prepare an income statement (assume an income tax rate of 25%)

 

 

erson samhankhanLv2 26 Apr 2023   Unlock Already have an account? Log in   Like     Read by 1 person nishareyansh2001Lv10 26 Apr 2023   Unlock Already have an account? Log in   Like     Read by 1 person
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PLS HELP!!

Using Spanish resources as much as possible, research a famous historical and/or present cultural figure from a Spanish-speaking country including Latinos in the USA. 

Research one of the following noteworthy people:
Gabriel García Márquez
Valentina Ramírez Avitia
José Octavio "Chepito" Area Dávila
María Eva Duarte de Perón
Rita Moreno

In two well-developed Spanish paragraphs (4-6 sentences each), write a brief biography of a famous Latino/a. 

In paragraph one describe where your person is from, and what line of work they do/did.  
Include interesting details about the person's life and events that the person has/had experienced that are significant.
Give a time frame of when these events occur(red). 
Keep in mind, events that happened once use the preterite tense. Something he/she used to do or that occurred frequently in the past uses the imperfect tense.   

In paragraph two describe his/her important contributions to their country, to Spanish speaking culture, their career, etc. 
What made this person famous or historical? 
Why do they stand out above all the others? What was noteworthy? Llegó a ser famoso/a por...
If this person created something (art, music, legislation, literature), what are your thoughts about a particular work?
If this person liberated or fought for something, what is one question you may want to ask them? Quiero preguntarle...

Use outside sources (Internet, books, magazines, etc.) to gather information for this assignment. However, be sure not to copy the information directly from those sources. Copying information and presenting it as your own work is plagiarism and will result in a failing grade. You will need to rephrase the information into your own words, and cite the source of the information you used. Use the knowledge you have to build on your skills.

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