Please just do it as the instruction demand thank you
Shane Khem
ma-costofgdsmfgtakehmsummer2013.docMANAGERIAL ACCOUNTING-TAKE HOME QUIZ
THE FINANCIAL STATEMENTS ARE TO BE TYPED. THE QUIZ IS DUE AT THE START OF CLASS. BRING TWO TYPED COPIES TO CLASS
(SHOW ALL WORK!!!!!) Properly label all totals, subtotals, and financial statements
Use the following information to prepare the required financial statements as instructed below:
Administrative salaries expense $ 119,000
Advertising expense 12,000
Direct labor 110,000
Depreciation expense, factory 18,000
Finished goods inventory,1/1 27,000
Accounting and auditing expense 50,000
Direct material inventory,1/1 42,000
Plant maintenance expense 35,000
Work in process inventory,1/1 9,000
Sales discount 15,000
Factory cleaning expense 30,000
Direct material purchases 177,000
Manufacturing design expense 3,000
Legal expense 9,000
Gross sales 998,000
Indirect material 22,000
Depreciation expense 16,000
Plant property tax expense 8,000
Direct material inventory,12/31 39,000
Indirect labor 48,000
Manufacturing waste expense 15,000
Work in process inventory, 12/31 7,000
Storage and warehouse expense 12,000
Finished goods inventory, 12/31 29,000
Freight out 11,000
Security expense, plant 27,000
Sales returns and allowances 4,000
Other manufacturing overhead 13,000
Utilities expense 5,000
Plant warehouse expense 8,000
Insurance expense, selling 7,000
Research expense, Plant 15,000
Consulting expense 21,000
Factory quality control expense 13,000
Store rental expense 55,000
Instructions: Prepare the cost of goods manufacturing schedule and a separate income statement for Joy and Peace Manufacturing Company for the year ended December 31, 2013
