The Following Information Is for the Bayway Manufacturing Company for November

question 89

Essay

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

Inventories	Begining	Ending
Raw material	$17,400	$13,200
Work in process	31,150	28,975
Finished goods	19,200	25,500

Direct Labor (21,000 DLH @ $13)
Raw Material Purchases	$120,000	Insurance-Office	2,570
Indirect Labor	11,200	Office Supplies Expense	900
Factory Supplies Used	350	Insurance-Factory	1,770
Other Expenses:		Depr. Office Equipment	3,500
Depr.-Factory Equipment	17,300	Repair/Maintenance-Factory	7,400

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

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Definitions:

Ownership Interest

A share or stake in a company or property, indicating the holder's rights to its assets and profits.

Partnership Interest

An ownership share in a partnership that represents the holder's claim on assets and income.

Capital Balance

The amount of equity a person or entity has in an asset after deducting all liabilities associated with that asset.

Net Partnership Assets

The total assets owned by a partnership after deducting all liabilities, representing the net value held collectively by the partners.