3 nts 01:39:36 eBook Margaret Rosenthal, accountant for Russell Manufacturing Company, prepared the following income sta

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3 Nts 01 39 36 Ebook Margaret Rosenthal Accountant For Russell Manufacturing Company Prepared The Following Income Sta 1 (30.53 KiB) Viewed 12 times

3 Nts 01 39 36 Ebook Margaret Rosenthal Accountant For Russell Manufacturing Company Prepared The Following Income Sta 2 (29.98 KiB) Viewed 12 times

3 Nts 01 39 36 Ebook Margaret Rosenthal Accountant For Russell Manufacturing Company Prepared The Following Income Sta 3 (40.53 KiB) Viewed 12 times

3 nts 01:39:36 eBook Margaret Rosenthal, accountant for Russell Manufacturing Company, prepared the following income statement for the quarter ending December 31, 2019. Sales Purchases of materials (1) Payroll (2) Advertising Administrative travel Manufacturing utilities Facility rental (3) Depreciation (4) Sales commissions Annual insurance (manufacturing) Office utilities Management salaries (5) Net income Notes: (1) 80% of the materials were directi (2) 70 % direct labour; 30% indirect labour (3) 80% related to manufacturing (4) 75 % related to manufacturing (5) 30 % related to manufacturing Direct materials Work in process WIA $1,395,100 248,390 267,500 37,500 28,100 50,400 95,000 64,500 46,000 45,000 22,900 393,000 96,810 Furthermore, Rosenthal compiled the following information with respect to inventories for the quarter (note that the company does not maintain inventories of indirect materials). Beginning $ 7,120 8,320 $ Ending $8,260 9,520 - FA
19:04 ok Notes: (1) 80% of the materials were direct (2) 70% direct labour; 30% indirect labour (3) 80% related to manufacturing (4) 75% related to manufacturing (5) 30% related to manufacturing Furthermore, Rosenthal compiled the following information with respect to inventories for the quarter (note that the company does not maintain inventories of indirect materials). Direct materials Work in process Finished goods Beginning Ending. $ 7,120 $8,260 8,320 9,520 11,530 7,570 Required: 1. This part of the question is not part of your Connect assignment. 2. Prepare a cost of goods manufactured statement for the quarter. Direct materials: RUSSELL MANUFACTURING COMPANY Cost of Goods Manufactured Statement For the Quarter Ending December 31, 2019 Direct materials available for use $ 0
3 20 points X3 01:38:40 eBook 3. Prepare a revised income statement for the quarter. RUSSELL MANUFACTURING COMPANY Income Statement For the Quarter Ending December 31, 2019 Cost of goods sold: Goods available for sale Cost of goods sold Deduct: Selling and administrative expenses 0 $ $ 0 0 0 0