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Prepare an income statement through gross profit

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Reference no: EM131625675

Problem - The following information is available for Aikman Company.

January 1, 2017

2017

December 31, 2017

Raw materials inventory

$22,040

$35,020

Work in process inventory

13,820

20,680

Finished goods inventory

29,710

24,900

Materials purchased

$153,510

Direct labor

224,300

Manufacturing overhead

185,440

Sales revenue

904,590

Compute cost of goods manufactured.

Prepare an income statement through gross profit.

Show the presentation of the ending inventories on the December 31, 2017, balance sheet.

Reference no: EM131625675

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