Solution-Prepare the cost of goods sold section of income

Prepare the cost of goods sold section of income statement

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Reference no: EM132483365

The following costs and inventory data Isere taken from the accounts of Reiser Ballad for the year 2018

	I Jamul)^. 201$	31 December 201$
Inventories
Raw materials	111.0-8.40fa	(R I) 7,000
Work in process	15p00	13,000
Finished goods	16,000	10,000
Costs incurred
Rain matenals purchases		(RM) 93,000
Direct tat		42,000
Factcey rent		8,000
Factory utilities		7,000
Indirect materials		4,000
Indirect 1aba		6,000
Selling expenses		5,000
.A.dmuustlative expenses		12,000

Instructions:

Question (a) Prepare a schedule showing the amount of direct materials used in prcduction during the Year

Question (b) Compute the amount of manufacturing overhead incurred during the Year

Question (c) Prepare a schedule of Cost of Coeds Manufactured for Reiser Schad for the sear ended 31 December 2018

Question (d) Prepare the Cost of Goods Sold section of the Income Statement for Reiser amhad for the year ended 31 December 2018

Reference no: EM132483365

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Prepare the cost of goods sold section of income statement

Reference no: EM132483365

Reference no: EM132483365

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