Superior Company provided the following data for the year ended December 31 (all raw materlals are used in production as direct materiais): Inventory balances at the beginning and end of the year were as follows: The total manufactuting costs added to production for the year were $675 , 000 ; the cost of goods available for sale totaled $725 , 000 : the unadjusted cost of goods sold totaled $667 , 000 ; and the net operating income was $35 , 000 . The company's underapplied of overapplied overhead is closed to Cost of Goods Sold. Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured) Complete this question by entering your answers in the tabs below. Prepare an income statement for the year. overapplied overhead is closed to Cost of Goods Sold. Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint: Prepare the inco statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Complete this question by entering your answers in the tabs below. Prepare an income statement for the year. i ne totat manuracturing costs addea to producuon ror the year were so/s,UuU; the cost or gooas avalladie tor the unadjusted cost of goods sold totaled $667 , 000 ; and the net operating income was $35 , 000 . The company overapplied overhead is closed to Cost of Goods Sold. Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint: Prep statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Complete this question by entering your answers in the tabs below. Prepare a schedule of cost of goods sold. Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Complete this question by entering your answers in the tabs below. Prepare a schedule of cost of goods manufactured.
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Superior Company provided the following data for the year ended Decemb (1).docx
1. Superior Company provided the following data for the year ended December 31 (all raw
materlals are used in production as direct materiais): Inventory balances at the beginning and end
of the year were as follows: The total manufactuting costs added to production for the year were
$675 , 000 ; the cost of goods available for sale totaled $725 , 000 : the unadjusted cost of goods
sold totaled $667 , 000 ; and the net operating income was $35 , 000 . The company's
underapplied of overapplied overhead is closed to Cost of Goods Sold. Required: Prepare
schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint
Prepare the income statement and schedule of cost of goods sold first followed by the schedule
of cost of goods manufactured) Complete this question by entering your answers in the tabs
below. Prepare an income statement for the year. overapplied overhead is closed to Cost of
Goods Sold. Required: Prepare schedules of cost of goods manufactured and cost of goods sold
and an income statement. (Hint: Prepare the inco statement and schedule of cost of goods sold
first followed by the schedule of cost of goods manufactured.) Complete this question by
entering your answers in the tabs below. Prepare an income statement for the year. i ne totat
manuracturing costs addea to producuon ror the year were so/s,UuU; the cost or gooas avalladie
tor the unadjusted cost of goods sold totaled $667 , 000 ; and the net operating income was $35 ,
000 . The company overapplied overhead is closed to Cost of Goods Sold. Required: Prepare
schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint:
Prep statement and schedule of cost of goods sold first followed by the schedule of cost of goods
manufactured.) Complete this question by entering your answers in the tabs below. Prepare a
schedule of cost of goods sold. Required: Prepare schedules of cost of goods manufactured and
cost of goods sold and an income statement. (Hint Prepare the income statement and schedule of
cost of goods sold first followed by the schedule of cost of goods manufactured.) Complete this
question by entering your answers in the tabs below. Prepare a schedule of cost of goods
manufactured.
