BM1706

Name: Laguitao, Bea Catherine A. Section: BSA 302 SCORE:

TRANSACTION ANALYSIS

RMI _ 1. Raw materials on hand not yet placed into production by a manufacturing firm
WIP _ 2. Raw materials on which a manufacturing firm has started production, but which are not completely
processed
FGI _ 3. Factory labor costs incurred on goods completed but still unsold by a manufacturer
MI _ 4. Factory supplies on hand
FGI _ 5. Costs identified with units completed by a manufacturing firm, but not yet sold
FGI _ 6. Goods out on consignment at another company’s store
N/A _ 7. Goods held on consignment from another company
MI _ 8. Merchandise purchased FOB shipping point that are in transit at December 31
N/A _ 9. Merchandise purchased f.o.b. destination that are in transit at December 31
N/A _ 10. Merchandise sold FOB shipping point that are in transit at December 31
MI _ 11. Goods sold FOB destination that are in transit at December 31
N/A _ 12. Goods sold on an installment basis
N/A _ 13. Costs incurred to advertise goods held for resale
N/A _ 14. Interest costs incurred to finance activities associated with making goods ready for sale; the goods
are routinely manufactured items
REI _ 15. Interest costs on assets produced as discrete projects (such real estate) for sale
N/A _ 16. Cost of sales brochures on hand
N/A _ 17. Investments in stocks and bonds that will likely be sold within the next year
N/A _ 18. Office supplies on hand
MI _ 19. Freight charges on goods purchased for resale
N/A _ 20. Supplies purchased for use in the delivery and sales functions of the enterprise

Reference
Kieso, D. E. (2016). Intermediate accounting (16th ed.). New York: John Wiley & Sons.

04 Activity 1 *Property of STI

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