ACC 206 Week 2 Chapter 3 Exercise 5 Schedule of cost of goods manufactured, income statement
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Chapter 3 Exercise 5: Schedule of cost of goods manufactured, income statement
The following information was taken from the ledger of Jefferson Industries, Inc.:
| Direct labor $85,000
Selling | Administrative expenses | $59,000 |
| 34,000 expenses | Work in. process | |
| Sales 300,000
| Jan. 1 | 29,000 |
| Finished goods
| Dec. 31 | 21,000 |
| Jan. 1 115,000
| Direct material purchases | 88,000 |
| Dec. 31 131,000
| Depreciation: factory | 18,000 |
| Raw (direct) materials on hand | Indirect materials used | 10,000 |
| Jan. 1 31,000 | Indirect labor | 24,000 |
| Dec. 31 40,000
| Factory taxes | 8,000 |
| Factory utilities | 11,000 |
Prepare the following:
- a. A schedule of cost of goods manufactured for the year ended December 31.
An income statement for the year ended December 31.
11 years ago
ACC 206 Week 2 Chapter 3 Exercise 5 Schedule of cost of goods manufactured, income statement
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