Question

Ridgeway Company reports the following information pertaining to its operating activities:


During the year, the company purchased $35,000 of direct materials and incurred $22,000 of direct labor costs. Total manufacturing overhead costs for the year amounted to $19,000. Selling and administrative expenses amounted to $30,000, and the company’s annual sales amounted to $80,000.
a. Prepare Ridgeway’s schedule of the cost of finished goods manufactured.
b. Prepare Ridgeway’s income statement (ignore incometaxes).


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  • CreatedApril 17, 2014
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