Description of this paper

Prepare a statement of cost of goods manufactured and an income statement for the year ended December 31, 2010.

Description

solution


Question

2. The following information applies to the General Lawnmower Company for the year ended December 31, 2010;Factory Rent $80,000;Direct Materials Inventory, Beginning $50,000;Direct Materials Inventory, Ending $45,000;Direct Materials Purchases $325,000;Direct Labor?Wages $550,000;Indirect Labor?Wages $25,000;Finished Goods Inventory, Beginning $50,000;Finished Goods Inventory, Ending $75,000;Indirect Materials $50,000;Plant Utilities $25,000;General and Administrative $130,000;Work-in-Process Inventory, Beginning $50,000;Work-in-Process Inventory, Ending $55,000;Marketing Expenses $180,000;Sales Revenue $1,825,000;Required;Prepare a statement of cost of goods manufactured and an income statement for the year ended December 31, 2010.;I am unsure if the plant utilities and the factory rent go into the supporting costs of goods sold statement but that is where I believe they are go and currently have them. Can you help me with this?

 

Paper#25253 | Written in 18-Jul-2015

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