Drumbeats of scottsdale manufacture drum sets

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Reference no: EM131219092

DrumBeats of Scottsdale manufacture drum sets. The following information is available for December 31st, 20x5.

Advertising Expense $ 19,125

Depreciation Expense, Office Equipment 8,750

Depreciation Expense, Selling Equipment 10,000

Depreciation Expense, Factory Equipment 32,500

Factory Supervision 122,500

Factory Supplies Used 15,750

Factory Utilities 36,250

Raw Materials Inventory, Dec 31, 20x4 177,500

Raw Materials Inventory, Dec 31, 20x5 168,125

Goods in Process, Dec 31, 20x4 15,875

Goods in Process, Dec 31, 20x5 14,000

Finished Goods, Dec 31, 20x4 164,375

Finished Goods, Dec 31, 20x5 129,000

Direct Labor 650,750

Income Tax Expense 277,425

Indirect Labor 60,000

Miscellaneous Production Costs 8,500

Office Salaries Expense 100,875

Raw Materials Purchases 872,500

Rent Expense, Office Space 21,125

Rent Expense, Selling Space 25,750

Rent Expense, Factory Building 79,750

Maintenance Expense, Factory Equipment 27,875

Sales 3,275,000

Sales Discounts 57,500

Sales Salaries Expense 268,250

1. Prepare DrumBeats 20x5 Manufacturing Statement.

2. Prepare DrumBeats 20x5 Common-Sized Income Statement that reports separate categories for Selling Expenses and General & Administrative Expenses.

Reference no: EM131219092

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