Reference no: EM132660044

Anthony Co. manufactures office furniture at its plant in Ontario. In August, the plant accountant collected the following data concerning operations during the month of July:

Purchases of raw materials $ 48,000
Direct labour 75,000
Manufacturing overhead 110,200
Sales revenue 455,000

Various Selling and Administrative expenses:

Depreciation 25,000
Salaries and wages 67,000
Utilities 3,000
Advertising 6,000
Sales commissions 12,000

Inventory                      Beginning              Ending

Raw materials             $12,000               $21,000
Work in process          48,000                 67,000
Finished goods           30,000                36,000

Problem 1: In an Income Statement, the Selling and Administration expenses would be