Reference no: EM132657470
Problem 1: Prepare an income statement with a supporting cost of goods manufactured and sold statement.
Accounts recievable: 156,000
Administrative costs: 240,000
Capital Stock: 600,000
Depreciation Manufacturing: 126,000
Direct Labor: 410,000
Finished Goods Inventory January 1: 125,000
Finished Goods Inventory December 31: 96,000
Heat Light & Power Plant: 23,000
Marketing Costs: 247,000
Miscellaneous Manufacturing Costs: 5,800
Plant Maintenance & Repairs: 31,600
Property Taxes Manufacturing: 29,000
Direct Materials Purchase: 306,000
Direct Materials Inventory January 1: 93,000
Direct Materials Inventory December 31: 83,500
Sales Revenue: 1,948,000
Supervisory & Indirect Labor: 138,000
Supplies and Indirect Materials: 6,000
Work In Process Inventory January 1: 149,000
Work In Process December 31: 137,000