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 Sales$1,250,000
  Raw materials inventory, Dec. 31, 201237,000
  Goods in process inventory, Dec. 31, 201253,900
  Finished goods inventory, Dec. 31, 201262,750
  Raw materials purchases175,600
  Direct labor225,000
  Factory computer supplies used17,840
  Indirect labor47,000
  Repairs—Factory equipment5,250
  Rent cost of factory building57,000
  Advertising expense94,000
  General and administrative expenses129,300
  Raw materials inventory, Dec. 31, 201342,700
  Goods in process inventory, Dec. 31, 201341,500
  Finished goods inventory, Dec. 31, 201367,300

 

Prepare its manufacturing statement for the year ended on December 31, 2013.

 

 

 

 

 

Following are the selected account balances of Shanta Company:

 

  Sales$1,250,000
  Raw materials inventory, Dec. 31, 201237,000
  Goods in process inventory, Dec. 31, 201253,900
  Finished goods inventory, Dec. 31, 201262,750
  Raw materials purchases175,600
  Direct labor225,000
  Factory computer supplies used17,840
  Indirect labor47,000
  Repairs—Factory equipment5,250
  Rent cost of factory building57,000
  Advertising expense94,000
  General and administrative expenses129,300
  Raw materials inventory, Dec. 31, 201342,700
  Goods in process inventory, Dec. 31, 201341,500
  Finished goods inventory, Dec. 31, 201367,300

 

Prepare an income statement for Shanta Company (a manufacturer). Assume that its cost of goods manufactured is $534,390.

 

 

 

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