Reference no: EM132461992
ABC Company reports the following information:
Sales $160,000
General and Administrative Expenses 9,000
Beginning Raw Materials Inventory 6,000
Ending Raw Materials Inventory 5,000
Beginning Work-in-Process Inventory 3,000
Ending work-in-Process Inventory 2,000
Beginning Finished Goods Inventory 4,000
Ending Finished Goods Inventory 6,000
Direct Labor 29,000
Material Purchases 92,000
Mfg. Overhead (insurance % taxes) 20,000
Note: You can assume that overhead was correctly applied.
Required: Using Excel, create the following:
Question 1: ABC's Cost of Goods Manufactured Statement.
Question 2: ABC's Cost of Goods Sold Statement.
Question 3: ABC's Income Statement for ABC Co.