Reference no: EM132463867
Question 1: Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.
Question 2: Prepare a schedule of cost of goods sold.
Question 3: Prepare an income statement.
Sales $ 769,000
Direct labour cost 108,000
Raw material purchases 150,000
Selling expenses 118,000
Administrative expenses 61,000
Manufacturing overhead applied to work in process 228,000
Actual manufacturing overhead costs 256,000
Beginning End of
Inventories: of Year Year
Raw materials $ 9,800 $11,800
Work in process 6,800 21,800
Finished goods 71,800 26,800
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