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Prepare kevin schedule of cost of goods sold for the year

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Reference no: EM132561813

The following data refer to Kevin Company for the year 2020:

Sales Revenue ... $400000

Work in process (Dec 31) $5,500

Selling& Ad expenses $52,500

Purchases of raw material $45,000

Work in process (Jan 1) $10,000

Income tax expenses $22,500

Ending raw material $900

Direct labor $34,000

Raw material (Jan 1) $10,000

Utilities: plant $10,000

Depreciation equipment $15,000

Finished goods (Dec 31) $12,500

Finished goods (Jan 1) $5,000

Indirect material $2,500

Indirect labor $3,750

Other manufacturing overhead $20,000

Required:

Question 1. Prepare Kevin schedule of cost of goods manufactured for the year

Question 2. Prepare Kevin schedule of cost of goods sold for the year.

Reference no: EM132561813

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