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Pioneer Parts A Manufacturer of Windows For Commercial Building

Pioneer Parts is a manufacturer of windows for commercial buildings. The document provides information on Pioneer Parts' beginning and ending inventory amounts for direct materials, work-in-process, and finished goods for last year. It also lists the company's administrative costs, direct labor costs, materials purchases, depreciation expenses, and other annual costs. The information is to be used to prepare an income statement and cost of goods sold statement for Pioneer Parts.

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Amit Pandey
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62 views1 page

Pioneer Parts A Manufacturer of Windows For Commercial Building

Pioneer Parts is a manufacturer of windows for commercial buildings. The document provides information on Pioneer Parts' beginning and ending inventory amounts for direct materials, work-in-process, and finished goods for last year. It also lists the company's administrative costs, direct labor costs, materials purchases, depreciation expenses, and other annual costs. The information is to be used to prepare an income statement and cost of goods sold statement for Pioneer Parts.

Uploaded by

Amit Pandey
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Solved: Pioneer Parts a manufacturer of windows for

commercial building
Pioneer Parts a manufacturer of windows for commercial building

Pioneer Parts, a manufacturer of windows for commercial buildings, reports the following
account information for last year (all costs are in thousands of dollars):
Information on January 1 (Beginning):
Direct materials inventory . . . . . . . . . . . . . . . . . . . . . . . $ 18
Work-in-process inventory . . . . . . . . . . . . . . . . . . . . . . 24
Finished goods inventory . . . . . . . . . . . . . . . . . . . . . . . 328
Information for the year:
Administrative costs . . . . . . . . . . . . . . . . . . . . . . . . . . $ 720
Direct labor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,120
Direct materials purchases . . . . . . . . . . . . . . . . . . . . . 1,640
Factory and machine depreciation . . . . . . . . . . . . . . . 2,320
Factory supervision . . . . . . . . . . . . . . . . . . . . . . . . . . 420
Factory utilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 180
Indirect factory labor . . . . . . . . . . . . . . . . . . . . . . . . . . 560
Indirect materials and supplies . . . . . . . . . . . . . . . . . . 140
Marketing costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300
Property taxes on factory . . . . . . . . . . . . . . . . . . . . . . 56
Sales revenue. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,080
Information on January 31 (Ending):
Direct materials inventory . . . . . . . . . . . . . . . . . . . . . . . $ 16
Work-in-process inventory . . . . . . . . . . . . . . . . . . . . . . 28
Finished goods inventory . . . . . . . . . . . . . . . . . . . . . . . 294

Required
Prepare an income statement with a supporting cost of goods sold statement.

Pioneer Parts a manufacturer of windows for commercial building

ANSWER
https://solvedquest.com/pioneer-parts-a-manufacturer-of-windows-for-commercial-building/

Reach out to [email protected] for enquiry.


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