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Atlas Company is a fairly new company that began its operations on June 1, 2020. Atlas Company manufactures summer jackets. At the end of June, 2020 the following information was compiled:
Administrative Expense $25,000Direct Labour $10,000Ending Finished Goods $8,000Ending Raw Materials $20,000 Ending Work-in-Process $7,000Manufacturing Overhead $6,000Raw Material Purchases $50,000Sales Revenue $120,000Selling Expense $30,000
Problem a) Prepare a schedule of cost of goods manufactured for June
Problem ?b) Prepare an income statement for June
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