The Following Information Is for the Pawnee Manufacturing Company for November

question 10

Essay

The following information is for the Pawnee Manufacturing Company for November.

inventories	Begining	Ending
Raw material	$19,750	$15,400
Work in process inventory	35,350	32,200
Finished goods inventory	21,300	27,900

Direct Labor (21,000 DLH @ $13)
Raw Material Purchases	$155,000	Insurance-Office	2,750
Indirect Labor	11,600	Office Supplies Expense	1,050
Factory Supplies Used	475	Insurance-Factory	1,825
Other Expenses:		Depr. Office Equipment	3,900
Depr.-Factory Equipment	18,100	Repair/Maintenance-Factory	7,800

Prepare a statement of Cost of Goods Manufactured and a statement of Cost of Goods Sold in good form.

Analyze the impact of subscription prices and rights value on shareholder decisions in rights offerings.

Evaluate the direct costs associated with new security sales and their impact on the capital raised for projects.

Understand the concept and components of various forms of social organization and governance.

Interpret the role of custom and law in different societies.

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Definitions:

Beginning Inventory

The worth of merchandise ready for purchase at the beginning of a financial cycle.

Budgeted Sales

The projected amount of sales, in units or dollars, that a company plans to achieve in a specific period.

Production Budget

A forecast of the quantity of products that must be manufactured in a specified time period to meet customer demand and maintain inventory levels.

Ending Inventory

The total value of goods available for sale at the end of an accounting period, calculated as beginning inventory plus purchases minus cost of goods sold.