Manufacturing statement and income statement

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Reference no: EM132204745

Manufacturing Statement and Income Statement Lake Ltd.’s accounting department provided following financial information: Depreciation Expense - Factory Equipment $ 90,000 Direct Labour $ 1,284,000 Raw Material Inventory (1st July, 2016) $ 183,000 Raw Material Inventory (30th June, 2017) $ 186,000 Factory Rent $ 152,820 Finished Goods (1st July, 2016) $ 264,000 Finished Goods (30th June, 2017) $ 345,000 Indirect Labour $ 75,000 Indirect Materials $ 52,500 Sales Revenue $ 6,751,500 Administration Expenses $ 600,000 Selling & Distribution Expenses $ 1,200,000 Purchase of Raw Material $ 1,200,360 Freight In $ 90,000 Work in Process (1st July, 2016) $ 60,600 Work in Process (30th June, 2017) $ 57,330 Required: prepare a statement of Cost of Goods Manufactured and an Income Statement for Lake Ltd. for the year ended 30th June 2017. You can prepare the statements in an Excel spreadsheet then paste into word.

The answer you provide is wrong as i compare to my sir please rectify it because i have to submit today please do correctly.

Reference no: EM132204745

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