ACCT 222 Problems Excel Template, Fall 2014

Name: Section: Exercise 1-1 Name: Section: When subtotals and totals are correct the cell will change to green. Exercise 1 a. Valley View Manufacturing Co. Statement of Cost of Goods Manufactured For the Month Ended January 31, 20-- Materials: $ $ $ $ Direct labor Factory overhead: $ Total manufacturing cost $ $ Cost of goods manufactured $ b. Cost of goods sold: $ $ $ Name: Section: When subtotals and totals are correct the cell will change to green. Exercise 1-9 a. Direct materials used during the period Add inventory of direct materials at the end of the period Direct materials available during the period Less inventory of direct materials at the beginning of the period Direct materials purchased during the period b. Total manufacturing costs incurred during the period Less: Direct materials used Factory overhead incurred Direct labor costs incurred during the period c. Cost of goods available for sale Less finished goods inventory at the end of the period Cost of goods sold during the period d. Sales Cost of goods sold Gross profit Name: Section: When subtotals and totals are correct the cell will change to green. Problem 1-1 Saito's Sushi Bar Performance Report - Dining Room February 28, 2013 Budgeted Actual Variance Year-to- Year-to- Year-to- Expense February Date February Date February Date Dining room wages $ $ $ $ $ $ Laundry and housekeeping Utilities Depreciation Total $ $ $ $ $ $ Name: Section: When subtotals and totals are correct the cell will change to green. Problem 1-2 1. $ $ $ 2. $ $ $ Name: Section: When subtotals and totals are correct the cell will change to green. Problem 1-4 1. Kokomo Furniture Company Statement of Cost of Goods Manufactured For the Month Ended November 30, 2013 Direct materials: $ Total cost of available materials $ Cost of materials used $ Cost of direct materials used $ Direct labor Factory overhead: $ Cost of goods manufactured during the month $ 2. Kokomo Furniture Company Income Statement For the Month Ended November 30, 2013 Sales $ Cost of goods sold: $ $ Gross profit on sales $ Selling and administrative expenses Net income $ Name: Section: When subtotals and totals are correct the cell will change to green. 3. Kokomo Furniture Company Balance Sheet November 30, 2013 Assets Current assets: Cash $ Accounts receivable Inventories: Finished goods $ Work in process Materials Total current assets $ Plant and equipment: Building $ Less accumulated depreciation $ Machinery and equipment $ Less accumulated depreciation Total plant and equipment Total assets $ Liabilities and Stockholder's Equity Current liabilities: Accounts payable $ Stockholder's equity: Capital stock $ Retained earnings Total stockholder's equity Total liabilities and stockholder's equity $ Name: Section: When subtotals and totals are correct the cell will change to green. Problem 1-8 1. Dennis Manufacturing Company Statement of Cost Of Goods Manufactured For the Month Ended July 31, 20-- Materials: $ Total cost of available materials $ Cost of direct materials used in production $ Direct labor Factory overhead Total manufacturing cost $ Total Cost of goods manufactured $ 2. Dennis Manufacturing Company Schedule to Compute Prime Cost For the Month Ended July 31, 20-- Direct materials used $ Direct labor incurred Prime cost incurred during July $ 3. Dennis Manufacturing Company Schedule to Compute Conversion Cost For the Month Ended July 31, 20-- Direct labor incurred $ Factory overhead Conversion cost incurred during July $ Name: Section: When amounts are correct the cell will change to green Problem 1-9 Manlius Manufacturing Co. Statement of Cost of Goods Manufactured For the Year Ended December 31, 2013 Direct materials used $ Direct labor Factory overhead Total manufacturing cost $ 1,000,000 Subtotal $ Cost of goods manufactured $ Name: Section: When subtotals and totals are correct the cell will change to green Problem 1-10 1. Job 101 Job 102 Job 103 Job 104 Total Direct materials $ $ $ $ $ Direct labor Factory overhead Total $ $ $ $ $ 2. GENERAL JOURNAL Accont Titles Debit Credit a. b. c. d. e. f. g. h. Name: Section: When subtotals and totals are correct the cell will change to green Completed Billed Name: Section: When subtotals and totals are correct the cell will change to green Job 101 $ $ Job 102 Job 103 $ $ 3. Added to work in process: Direct materials $ Direct labor Factory overhead Total $ Transferred to finished goods Balance (represented by the cost of Job 104) $ 4. Added to finished goods $ Less costs of goods sold Balance (represented by the cost of Job 103) $