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ACC - General Lawnmower Company Problem

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Question;The following information applies to the General Lawnmower Company for the year ended December 31, 2010:Factory Rent $80,000Direct Materials Inventory, Beginning $50,000Direct Materials Inventory, Ending $45,000Direct Materials Purchases $325,000Direct Labor?Wages $550,000Indirect Labor?Wages $25,000Finished Goods Inventory, Beginning $50,000Finished Goods Inventory, Ending $75,000Indirect Materials $50,000Plant Utilities $25,000General and Administrative $130,000Work-in-Process Inventory, Beginning $50,000Work-in-Process Inventory, Ending $55,000Marketing Expenses $180,000Sales Revenue $1,825,000Required:Prepare a statement of cost of goods manufactured and an income statement for the year ended December 31, 2010.

 

Paper#40451 | Written in 18-Jul-2015

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