The following data (in thousands of dollars) have been takenfrom the accounting records of the Aladdin Corporation for thejust-completed year. Sales 1,300 Raw materials inventory, beginning25 Raw materials inventory, ending 30 Purchases of raw materials250 Direct labor 350 Manufacturing overhead 500 Administrativeexpenses 300 Selling expenses 250 Work in process inventory,beginning 150 Work in process inventory, ending 100 Finished goodsinventory, beginning 80 Finished goods inventory, ending 110 Usethe above data to prepare (in thousands of dollars) a schedule ofCost of Goods Manufactured and a Schedule of Cost of Goods Sold forthe year. In addition, what is the impact on the financialstatements if the ending finished goods inventory is overstated orunderstated?
The following data (in thousands of dollars) have been takenfrom the accounting records of the Aladdin Corporation for thejust-completed year. Sales 1,300 Raw materials inventory, beginning25 Raw materials inventory, ending 30 Purchases of raw materials250 Direct labor 350 Manufacturing overhead 500 Administrativeexpenses 300 Selling expenses 250 Work in process inventory,beginning 150 Work in process inventory, ending 100 Finished goodsinventory, beginning 80 Finished goods inventory, ending 110 Usethe above data to prepare (in thousands of dollars) a schedule ofCost of Goods Manufactured and a Schedule of Cost of Goods Sold forthe year. In addition, what is the impact on the financialstatements if the ending finished goods inventory is overstated orunderstated?
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The following data (in thousands of dollars) have been takenfrom the accounting records of Larden Corporation for thejust-completed year.
Sales | $950 |
Purchases of raw materials | $170 |
Direct labor | $225 |
Manufacturing overhead | $220 |
Administrative expenses | $180 |
Selling expenses | $140 |
Raw materials inventory, beginning | $90 |
Raw materials inventory, ending | $80 |
Work-in-process inventory, beginning | $30 |
Work-in-process inventory, ending | $20 |
Finished goods inventory, beginning | $100 |
Finished goods inventory, ending | $70 |
Prepare a Schedule of Cost of Goods Manufactured statement in thetext box below.
