SuSu Manufacturing Company makes water heaters. Selected account balances on December 31, 20X1, the end of its

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SuSu Manufacturing Company makes water heaters. Selected account balances on December 31, 20X1, the end of its fiscal year, are given below. Data about the beginning and ending inventories are also given.


INSTRUCTIONS
1. Prepare a statement of cost of goods manufactured for 20X1.
2. Prepare an income statement for 20X1.

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: 9781260247909

16th Edition

Authors: David Haddock, John Price, Michael Farina

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