Income statement Crowley Inc., submits the following data for September

Direct labor cost, $30,000

Cost of goods sold, $111,000

Factory overhead is applied at the rate of 150% of direct labor cost

Inventory accounts showed these beginning and ending balances:

September 1 September 30

Finished goods……………….... $15,000 $17,500

Work in process……………….. 9,600 13,000

Materials…………………………. 7,000 7,400

Other data:

Marketing expenses………………………………………………………………………… $ 14,100

General and administrative expenses……………………………………………… 22,000

Sales for the month………………………………………………………………………… 182,000

Required:

An income statement with schedule showing cost of goods manufactured and sold

Please do not post previous expert method as it is

Answer rating: 100% (QA)

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