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    Fundamental Accounting Principles II

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    Could you please provide the solution for these three problems (18-10, 18-13, and QS 20-6).

    Question 1: (2 points)

    Exercise 18-10: Cost of goods sold computation L.O. C6, P1
    Compute cost of goods sold for each of these two companies for the year ended December 31, 2009. (Omit the "$" sign in your response):

    Computer Merchandising Log Homes Manufacturing
    Beginning inventory
    Merchandise $ 301,000
    Finished goods $ 602,000
    Cost of purchases 580,000
    Cost of goods manufactured 790,000
    Ending inventory
    Merchandise 201,000
    Finished goods 195,000
    ________________________________________

    Computer Merchandising Log Homes Manufacturing
    Cost of goods sold $ ____________ $ ____________
    ________________________________________

    ________________________________________
    Question 2: (2 points)

    Exercise 18-13: Manufacturing statement preparation L.O. P2
    Given the following selected account balances of Spalding Company, prepare its manufacturing statement for the year ended on December 31, 2009. Include a listing of the individual overhead account balances in this statement. (Input all amounts as positive values. Omit the "$" sign in your response.)

    Sales $ 1,363,000
    Raw materials inventory, Dec. 31, 2008 40,000
    Goods in process inventory, Dec. 31, 2008 53,600
    Finished goods inventory, Dec. 31, 2008 60,400
    Raw materials purchases 181,900
    Direct labor 243,000
    Factory computer supplies used 15,700
    Indirect labor 54,000
    Repairs-Factory equipment 7,250
    Rent cost of factory building 56,000
    Advertising expenses 92,000
    General and administrative expenses 140,000
    Raw materials inventory, Dec. 31, 2009 44,000
    Goods in process inventory, Dec. 31, 2009 41,200
    Finished goods inventory, Dec. 31, 2009 66,200
    ________________________________________

    SPALDING COMPANY
    Manufacturing Statement
    For Year Ended December 31, 2009
    Direct materials
    __________ $ ____________
    __________ ____________
    Raw materials available for use ____________
    __________ ____________
    Direct materials used $ ____________
    __________ ____________
    Factory overhead
    __________ ____________
    __________ ____________
    __________ ____________
    __________ ____________
    Total factory overhead costs ____________
    Total manufacturing costs ____________
    __________ ____________
    Total cost of goods in process ____________
    __________ ____________
    Cost of goods manufactured $ ____________
    ________________________________________

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    Question 1: (2 points)

    Exercise 18-10: Cost of goods sold computation L.O. C6, P1
    Compute cost of goods sold for each of these two companies for the year ended December 31, 2009. (Omit the "$" sign in your response):

    Computer Merchandising Log Homes Manufacturing
    Beginning inventory
    Merchandise $ 301,000
    Finished goods $ 602,000
    Cost of purchases 580,000
    Cost of goods manufactured 790,000
    Ending inventory
    Merchandise 201,000
    Finished goods 195,000
    ________________________________________

    Computer Merchandising Log Homes Manufacturing
    Cost of goods sold $ 680,000 $ ...

    Solution Summary

    Fundamental accounting principles are examined.

    $2.19

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