Requirements: (SHOW ALL WORK) Using summary entries, recreate all entries recorded by Cooper during 2018 for the factory operations. When you prepare entries for the 2018 building cost include both the factory and non-factory portion in your entry.Dr. Account Title………………..$XX Cr. Account Title………………..$XX Prepare Cooper’s Raw Materials, Work in Process, Finished Goods, MOH and Cost of Goods Sold T accounts. What will the company report on the 12/31/2018 Balance Sheet as inventory? Assume Cooper reported Sales Revenue for the twelve months ended 12/31/2018 of $600,000. What will the company report on the 2018 Income Statement for gross profit and net income? Make sure to label each amount in the calculation. What were the total prime costs incurred by Cooper during 2018? What was the company’s Cost of Goods Manufactured for the twelve months ended 12/31/2018? Consider the company’s ending finished goods inventory balance described above, noting that the $16,500 represents a single job, Job #225, which was started and finished in 2018. If 725 pounds of direct materials were requisitioned for Job #225, how many direct labor hours were incurred on Job #225?

Requirements: (SHOW ALL WORK) Using summary entries, recreate all entries recorded by Cooper during 2018 for the factory operations. When you prepare entries for the 2018 building cost include both...

Problem 1: To receive full credit, show all your work! Cooper Manufacturing pays $4 per pound to purchase its raw materials a

Finally, Coopers accountant shared the following information regarding the companys beginning and ending account balances:

Requirements: (SHOW ALL WORK)

Using summary entries, recreate all entries recorded by Cooper during 2018 for the factory operations. When you prepare entries for the 2018 building cost include both the factory and non-factory portion in your entry.

Dr. Account Title………………..$XX

Cr. Account Title………………..$XX

Prepare Cooper’s Raw Materials, Work in Process, Finished Goods, MOH and Cost of Goods Sold T accounts.

Assume Cooper reported Sales Revenue for the twelve months ended 12/31/2018 of $600,000. What will the company report on the 2018 Income Statement for gross profit and net income? Make sure to label each amount in the calculation.

What was the company’s Cost of Goods Manufactured for the twelve months ended 12/31/2018?

Consider the company’s ending finished goods inventory balance described above, noting that the $16,500 represents a single job, Job #225, which was started and finished in 2018. If 725 pounds of direct materials were requisitioned for Job #225, how many direct labor hours were incurred on Job #225?

Apr 23, 2021