Assignment: The following information is available for the QRS Corporation for 2019: Inventories January 1 December...
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Assignment: The following information is available for the QRS Corporation for 2019: Inventories January 1 December 31 Materials $351,000 $436,800 Work in process 631,800 592,800 Finished goods 608,400 576,000 Advertising expense $ 296,400 Depreciation expense-office equipment 42,120 Deprediation expense-factory equipment 56,160 Direct labor 670,800 Heat, Light and Power-Factory 22,460 Indirect Labor 78,750 Materials purchased 659,800 Office salaries expense 185,000 Property taxes-factory 18,500 Property taxes-office building 32,400 Rent Expense-factory 32,000 Sales 3,010,000 Sales salaries expense 420,000 Supplies-factory 15,400 Miscellaneous costs-factory 9,500 Instructions: 1. Prepare the 2019 statement of cost of goods manufactured. 2. Prepare the 2019 income statement Assignment Due 11/22/20 Assignment: The following information is available for the QRS Corporation for 2019: Inventories January 1 December 31 Materials $351,000 $436,800 Work in process 631,800 592,800 Finished goods 608,400 576,000 Advertising expense $ 296,400 Depreciation expense-office equipment 42,120 Deprediation expense-factory equipment 56,160 Direct labor 670,800 Heat, Light and Power-Factory 22,460 Indirect Labor 78,750 Materials purchased 659,800 Office salaries expense 185,000 Property taxes-factory 18,500 Property taxes-office building 32,400 Rent Expense-factory 32,000 Sales 3,010,000 Sales salaries expense 420,000 Supplies-factory 15,400 Miscellaneous costs-factory 9,500 Instructions: 1. Prepare the 2019 statement of cost of goods manufactured. 2. Prepare the 2019 income statement Assignment Due 11/22/20
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SOLUTION Schedule of Cost of Goods Manufactured Direct materials Raw materials inventory beginning 3... View the full answer
Related Book For
Managerial Accounting Tools for business decision making
ISBN: 978-1118096895
6th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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