Managerial Accounting Assignment Error Report: Income Statement Analysis, Study notes of Mathematics

A machine-generated report detailing errors in a submitted assignment related to managerial accounting. It includes a breakdown of points deducted, specifically focusing on inaccuracies within a prepared income statement. The report provides details on cell-level errors and instructions for correcting and resubmitting the assignment. It also includes the correct income statement for west nautical company, along with calculations for direct materials used, cost of goods manufactured, and cost of goods sold. Useful for students to understand their mistakes and improve their accounting skills. Useful for students to understand their mistakes and improve their accounting skills. Useful for students to understand their mistakes and improve their accounting skills.

Typology: Study notes

2023/2024

Uploaded on 06/26/2025

peter-makss
peter-makss 🇰🇪

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Submission MarkUp
This is a machine generated report of your submission document containing error details as annotations.
Details of all points deducted in the submitted document are listed on this sheet.
Assignment Details
Submission ID 331554201
Assignment Name
Submission Date 19 February, 2024
Report Generated on 19 February, 2024
Points Obtained 14/21 (66.667%)
Worksheet: 'ENTERANSWERS' (Points Deducted: 7.000)
Points Deducted Details
7.000 Cell level Incorrect Actions
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Download Managerial Accounting Assignment Error Report: Income Statement Analysis and more Study notes Mathematics in PDF only on Docsity!

Submission MarkUp This is a machine generated report of your submission document containing error details as annotations. Details of all points deducted in the submitted document are listed on this sheet. Assignment Details Submission ID 331554201 Assignment Name Submission Date 19 February, 2024 Report Generated on 19 February, 2024 Points Obtained 14/21 (66.667%) Worksheet: 'ENTERANSWERS' (Points Deducted: 7.000) Points Deducted Details 7.000 Cell level Incorrect Actions

Submission MarkUp ing error details as annotations. Error Description 7 cell(s) commented inplace. Please check the sheet.

4 Within Score Summary window, click on Download (upper right) to download the spreadsheet with feedback

End of Year Insurance on plant $ 11, Depreciation—plant building and equipment $ 13, Repairs and maintenance—plant $ 3, Marketing expenses $ 77, General and administrative expenses $ 28, during the year: ny in for the most recent year. Manufacturer's Income Statement. EXCEL PROJECTS ere you downloaded the initial spreadsheet you just saved and click Open y. Assume that the Raw Materials Inventory contains only direct dule of Cost of Goods Manufactured, and Calculation of Cost of Goods iate to receive full credit. If you copy/paste from the Instructions tab or a minus sign or parentheses for any values to be

DATA SHEET -- DO NOT ENTER ANSWERS HERE

  • Beginning Raw Materials Inventory $ 23, Calculation of Direct Materials Used
  • Plus: Purchases of direct materials 74,
  • Materials available for use $ 97,
  • Less: Ending Raw Materials Inventory 25,
  • Direct materials used $ 72,
  • Beginning Work in Process Inventory $ 35, Schedule of Cost of Goods Manufactured
    • Direct materials used 72, Plus Manufacturing costs incurred:
    • Direct labor 86,
    • Manufacturing overhead 70,
  • Total manufacturing costs to account for $ 263,
  • Less: Ending Work in Process Inventory 31,
  • Cost of goods manufactured $ 232,
  • Beginning Finished Goods Inventory $ 20, Calculation of Cost of Goods Sold
  • Plus: Cost of goods manufactured 232,
  • Cost of goods available for sale $ 252,
  • Less: Ending Finished Goods Inventory 22,
  • Cost of goods sold $ 230,

West Nautical Company Income Statement For Current Year Sales revenue $408, Cost of goods sold 230, Gross Profit $177, Less operating expenses Marketing expenses $77, General and administrative expenses 28, Total operating expenses 105, Operating income $71, (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab or if you type the numbers in, you will be marked wrong.)