Reference no: EM131783337
Problem - The following data were taken from the records of Stellar Manufacturing Company for the fiscal year ended June 30, 2010.
Raw Materials Inventory 7/1/09 $ 48,325 Factory Machinery Depreciation $ 16,300
Raw Materials Inventory 6/30/10 39,828 Factory Utilities 27,962
Finished Goods Inventory 7/1/09 95,694 Office Utilities Expense 8,195
Finished Goods Inventory 6/30/10 98,529 Sales 552,660
Work in Process Inventory 7/1/09 20,240 Sales Discounts 3,857
Work in Process Inventory 6/30/10 18,690 Plant Manager's Salary 29,302
Direct Labor 149,110 Factory Property Taxes 9,367
Indirect Labor 24,045 Factory Repairs 1,416
Accounts Receivable 26,642 Raw Materials Purchases 96,406
Factory Insurance 4,721 Cash 32,390
Complete the cost of goods manufactured schedule.
Complete an income statement through gross profit.
Complete the current assets section of the balance sheet at June 30, 2010.
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