1 answer

Please do all three parts of this one question Part One: In 2015, Pamela Webber opened...

Question:

please do all three parts of this one question
Part One: In 2015, Pamela Webber opened Pamelas Posies, a small retail shop selling floral arrangements. Click the icon to v
5 of 7 (4 complete) P P. ba Part Two: Pamelas Posies was so successful that Pamela decided to manufacture her own brand of f
Part Two: Pamelas Posies was so successful that Pamela decided to manufacture her own brand of floral supplies: Floral Villa
Part Three: Show the ending inventories that would appear on these balance sheets: (Click the icon to view additional informa
Part One: In 2015, Pamela Webber opened Pamela's Posies, a small retail shop selling floral arrangements. Click the icon to view the records.) Read the requirement (Part One) Part One: Begin by calculating the cost of goods sold for the year. Pamela's Posies Calculation of Cost of Goods Sold For the Year Ended December 31, 2016 Plus: Less: Choose from any list or enter any number in the input fields and then click Check Answer! 8 parts O remaining esc Q se
5 of 7 (4 complete) P P. ba Part Two: Pamela's Posies was so successful that Pamela decided to manufacture her own brand of floral supplies: Floral Village Manufacturing. (Click the icon to view the records.) Read i Data Table On December 31, 2016, her accounting records show the following: TILL Sales revenue.... ..$ Utilities for shop ..............$ Inventory on December 31, 2016 .. $ Inventory on January 1, 2016 ..... $ Rent for shop. ........ .........$ Sales commisions. . . . . . . . . . . . . . . $ Purchases of merchandise........$ 58,000 1,500 9,200 12,100 3,400 4.900 35,500 Print Done then click Check Answer. Clear All
Part Two: Pamela's Posies was so successful that Pamela decided to manufacture her own brand of floral supplies: Floral Village Manufacturing. (Click the icon to view the records.) i Data Table At the end of December 2017, her accounting records show the following: Utilities for plant h... $ Delivery expense....... 4,400 2,000 4,200 1,650 1,000 A MEH $ Sales salaries expense.... $ Plant janitorial services.. Work in process inventory, December 31, 2017.... Finished goods inventory, December 31, 2016 ... $ Finished goods inventory, December 31, 2017 .. .. $ Sales revenue .... $ Customer service hotline expense. Direct labor . . . . . . . . . . . . . . . . . . . $ Direct material purchases .............. $ Rent on manufacturing plant .... Raw materials inventory, December 31, 2016 .....$ Raw materials inventory, December 31, 2017 .....$ Work in process inventory, December 31, 2016.... $ A 3,000 101,000 1,800 26,000 40,000 8,400 17.000 7,500 0 ...........$ -k Che
Part Three: Show the ending inventories that would appear on these balance sheets: (Click the icon to view additional information.)

Answers

Part 1)

Pamela's Posies

Calculation of cost of goods sold

for the year ended December 31,2016

Inventory ,Jan 1 2016 12100
Purchase of merchandise 35500
Inventory available for sale 47600
less:Inventory ,December 31,2016 -9200
cost of goods sold 38400

b)

Pamela's Posies

Statement of cost of goods sold

Raw material inventory ,Jan 1 2017 17000
Add:Direct material purchase 40000
Raw material available for use 57000
less:Raw material inventory December 31 2017 (7500)
Raw material used in to production 49500
Direct labor 26000
Manufacturing overhead
Utilities for plant 4400
Plant Janitorial services 1650
Rent on manufacturing plant 8400
Total manufacturing overhead 14450
Total manufacturing cost 89950
Work in process ,Jan 1 2017 0
Total 89950
less:Work in process inventory .Dec 31 2017 (1000)
Cost of goods manufactured 88950
Add:Finished goods inventory,Jan 1 2017 0
Cost of goods available for sale 88950
less:Finished goods inventory ,Dec 31 2017 (3000)
Cost of goods sold 85950

c)

Raw material inventory 7500
Work in process inventory 1000
Finished goods inventory 3000
Total ending inventory 11500
.

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