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Chambers Manufacturing Company produces blankets. From its accounting records, it prepares the following schedule and financial statements on a yearly basis.
(a) Cost of goods manufactured schedule.
(b) Income statement.
(c) Balance sheet.
The following items are found in its ledger and accompanying data.
1. Direct labor
9. Factory maintenance salaries
2. Raw materials inventory, 1/1
10. Cost of goods manufactured
3. Work in process inventory, 12/31
11. Depreciation on delivery equipment
4. Finished goods inventory, 1/1
12. Cost of goods available for sale
5. Indirect labor
13. Direct materials used
6. Depreciation on factory machinery
14. Heat and electricity for factory
7. Work in process, 1/1
15. Repairs to roof of factory building
8. Finished goods inventory, 12/31
16. Cost of raw materials purchases
Instructions
List the items (1)-(16). For each item, indicate by using the appropriate letter or letters, the schedule and/or financial statement(s) in which the item will appear.
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