Melville Manufacturing produces metal components for automotive suppliers. Financial records for September show the following: Required Prepare
Question:
Melville Manufacturing produces metal components for automotive suppliers. Financial records for September show the following:
Required
Prepare a cost of goods manufactured and sold statement and an income statement.
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A 1 Administrative salaries 2 Depreciation on the administrative building 3 Depreciation on the manufacturing plant Direct labor 4 6 5 Direct materials inventory, September 1 Direct materials inventory, September 30 Direct materials purchased during the month 8 Distribution costs 7 9 Finished goods inventory, September 1 10 Finished goods inventory, September 30 11 Indirect manufacturing labor 12 Insurance (on manufacturing plant) 13 Legal fees 14 Maintenance (on the manufacturing plant) 15 Manufacturing plant utilities 16 Marketing costs 17 Other manufacturing plant costs 18 Sales revenue 19 Taxes (on manufacturing plant and property) 20 Work-in-process inventory, September 1 21 Work-in-process inventory, September 30 22 $ B 525,000 228,400 350,000 938,500 213,840 247,000 1,791,200 131,400 328,400 273,900 108,400 10,640 99,260 43,080 156,820 149,850 126,176 4,530,984 43,120 80,650 79,340
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