Solution-Prepare an income statement for year ended december

Prepare an income statement for year ended december

Reference no: EM131818962

Comprehensive Problem - Batter Up manufactures competition softball bats using lightweight aluminum. It opened for business in late 2008. Based on the accounting records shown below as of December 31, 2009, prepare Batter Up's schedule of cost of goods manufactured and income statement.

Work in process inventory, December 31, 2009	$ 15,000.00
Finished goods inventory, December 31, 2008	-
Finished goods inventory, December 31, 2009	20,000.00
Sales revenue	130,000.00
Delivery expense	4,800.00
Sales salary expense	15,000.00
Direct labor	28,000.00
Direct material purchases	40,000.00
Depreciation on plant and equipment	6,500.00
Janitorial supplies	4,000.00
Plant janitorial services	5,500.00
Rent on manufacturing plant	12,000.00
Utilities for manufacturing plant	7,500.00
Raw materials inventory, December 31, 2008	32,000.00
Raw materials inventory, December 31, 2009	26,000.00
Work in process inventory, December 31, 2008	-

Prepare an income statement for year ended December 31, 2009.

Reference no: EM131818962

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Prepare an income statement for year ended december : Batter Up manufactures competition softball bats using lightweight aluminum. Prepare an income statement for year ended December 31, 2009

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Prepare an income statement for year ended december

Reference no: EM131818962

Reference no: EM131818962

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