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Following is information from the records of the Savoy Company for July. Purchases ...

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Accounting

Following is information from the records of the Savoy Company for July.
Purchases
Raw materials $180,000
Manufacturing supplies 3,000
Office supplies 1,200
Sales 700,200
Administrative salaries 55,200
Direct labor 126,000
Production employees fringe benefits*12,600
Sales salaries and commissions 54,000
Production supervisors salaries 12,000
Plant depreciation 14,400
Office depreciation 3,600
Plant maintenance 9,600
Plant utilities 9,000
Office utilities 3,000
Office maintenance 5,040
Production equipment rent 4,800
Office equipment rent 1,200
*Classified as manufacturing overhead
Inventories July 1 July 31
Raw materials $30,000 $33,600
Manufacturing supplies 4,8004,200
Office supplies 1,8001,200
Work-in-process 21,60018,000
Finished goods 108,540106,320
Required
Prepare a statement of cost of goods manufactured and an income statement. Actual overhead costs are assigned to products.
Note: Do not use any negative signs in your statements
Savoy Company
Statement of Cost of Goods Manufactured
For the Month of July
Current manufacturing costs:
Cost of materials placed in production:
Raw materials, 7/1 Answer 1
0
Answer 2
Answer 3
0
Total available Answer 4
0
Answer 5
Answer 6
0
Answer 7
0
Direct labor Answer 8
0
Manufacturing overhead:
Answer 9
Answer 10
0
Production employees fringe benefits Answer 11
0
Depreciation on plant Answer 12
0
Production supervisors' salaries Answer 13
0
Plant maintenance Answer 14
0
Plant utilities Answer 15
0
Production equipment rent Answer 16
0
Answer 17
0
Work-in-process, 7/1 Answer 18
0
Answer 19
Answer 20
0
Less: work-in-process, 7/31 Answer 21
0
Answer 22
Answer 23
0
SAVOY Company
Income Statement
For the Month Ending July 31
Answer 24
Answer 25
0
Cost of goods sold:
Finished goods inventory, 7/1 Answer 26
0
Answer 27
Answer 28
0
Total goods available for sale Answer 29
0
Answer 30
Answer 31
0
Answer 32
0
Answer 33
Answer 34
0
Selling and administrative expenses:
Answer 35
Answer 36
0
Administrative salaries Answer 37
0
Sales salaries and commissions Answer 38
0
Answer 39
3,600
Office utilities Answer 40
0
Office maintenance Answer 41
0
Office equipment rent Answer 42
0
Answer 43
0
Answer 44
Answer 45
0
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