ACC202 - Managerial Accounting

Document Content and Description Below

PETS WEALTH MILESTONE 3 - Statement of Cost of Services INSTRUCTIONS: The following are the actual numbers for January: Materials Purchased $5,000 of Materials Consumed 40% of those purchased ... materials Direct Labor Direct Labor was $6,240 Overhead Overhead was $2,800 PETS WEALTH Statement of Cost of Services For the Month Ended January 31, xxxx Beginning Work in Process Inventory 0 Direct Materials: Materials - Beginning 0 Add: Purchases for month of January $ 5,000 Materials Available for Use 5,000 Deduct: Ending Materials (3,000) Materials Used $ 2,000 Direct Labor 6,240 Overhead 2,800 Total Service Costs $ 11,040 Deduct: Ending Work in Process Inventory Cost of Services $ 11,040 This study source was downloaded by 100000825083626 from CourseHero.com on 05-08-2021 05:50:59 GMT -05:00 https://www.coursehero.com/file/58767085/ACC-202-Milestone-3-Workbork-Finaldocx/ This study resource was shared via CourseHero.com * Cost of Goods Sold = Cost of Services There is no finished goods inventory to maintain. PETS WEALTH MILESTONE 3 - Income Statement INSTRUCTIONS: Complete the Statement in proper form Revenue will be provided in an Announcement at the end of Module 4 (based on actual number of services for your pricing levels) Additional Information necessary to complete the Income Statement: General & Administrative Salaries paid = $1,200 Advertising = $100 Cleaning Products = $120 Depreciation = $83 Rent = $650 Loan = $420 Utilities & Insurance = $600 PETS WEALTH Income Statement For the Month Ended January 31, xxxx Revenue: This study source was downloaded by 100000825083626 from CourseHero.com on 05-08-2021 05:50:59 GMT -05:00 https://www.coursehero.com/file/58767085/ACC-202-Milestone-3-Workbork-Finaldocx/ This study resource was shared.......... [Show More]

Last updated: 1 year ago

Preview 1 out of 6 pages