The following information pertains to the York Company for the year ending December
31, 2019.

$ Hours
Revenue 240,000
Interest Revenue 50,000
Raw materials used 40,000
Indirect Labour 4,000
Indirect Materials 9,000
Utilities [factory] 4,500
Depreciation of factory equipment 10,000
Depreciation of factory buildings 19,000
Depreciation of admin buildings 5,000
Marketing costs 30,000
Wages [Store] 10,000
Utilities [store] 6,000
Supplies [store] 3,500
Direct Labour Hours 2000
Hourly Rate for direct labour 10
Finished Goods Inventory Jan 1 2019 7,000
Finished Goods Inventory Dec 31 2019 15,000
Bond Payable 65,000
Interest Rate 10%
Tax rate 22%

REQUIRED
1. Prepare a budgeted COGS statement
2. Prepare a projected income statement

Answer rating: 100% (QA)

YORK COMPANY Statement of Cost of Goods Sold For the Year Ending December 31 2019 Direct Materials Used Direct Labour Wage 2000 Hours 10 Factory Overhead Indirect Material ... View the full answer