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Reconstruct Financial Statements
San Ysidro Company manufactures hiking equipment. The company's administrative and manufacturing operations share the company's one building. Eighty percent of the building is used for manufacturing and the remainder is used for administrative activities. Indirect labor is 8 percent of direct labor.
The cost accountant at San Ysidro has compiled the following information for the year ended December 31:
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A
B
C
1
Administrative salaries
$ 192,000
2
Attorney fees to settle zoning dispute
22,960
3
Building depreciation (manufacturing portion only)
181,440
4
Cost of goods manufactured
2,776,760
5
Direct materials inventory, December 31
248,000
6
Direct materials purchased during the year
1,008,000
7
Direct materials used
1,069,880
8
Distribution costs
4,480
9
Finished goods inventory, January 1
224,000
10
Finished goods inventory, December 31
252,000
11
Insurance (on plant machinery)
53,200
12
Maintenance (on plant machinery)
33,880
13
Marketing costs
103,600
14
Other plant costs
82,160
15
Plant utilities
104,160
16
Sales revenue
4,550,000
17
Taxes on manufacturing property
38,800
18
Total (direct and indirect) labor
1,209,600
19
Work-in-process inventory, January 1
72,520
20
Work-in-process inventory, December 31
68,880
21
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