Roma Manufacturing Company makes water heaters. Selected account balances on December 31, 2016, the end of its

Question:

Roma Manufacturing Company makes water heaters. Selected account balances on December 31, 2016, the end of its fiscal year, are given below. Data about the beginning and ending inventories are also given.

Balances Balances Accounts Accounts (cont.) Sales Sales Returns and Allowances Materials Purchases Direct Labor Indirect


INSTRUCTIONS

1. Prepare a statement of cost of goods manufactured for 2016.

2. Prepare an income statement for 2016.

Analyze:

For every dollar earned in net sales, what portion was spent on manufacturing costs?

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Related Book For  book-img-for-question

College Accounting Chapters 1-30

ISBN: 978-0077862398

14th edition

Authors: John Price, M. David Haddock, Michael Farina

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