The adjusted trial balance for Appleton Appliances Ltd On June
The adjusted trial balance for Appleton Appliances, Ltd. On June 30, the end of its first month of operation is as follows:
The general ledger reveals the following additional data:
a. There were no beginning inventories.
b. Materials purchases during the period were $23,000.
c. Direct labor cost was $18,500.
d. Factory overhead costs were as follows:
Indirect materials......................................................$ 1,400
Indirect labor............................................................ 6,010
Depreciation–building .............................................. 3,000
Depreciation–machinery and equipment................... 2,200
Utilities...................................................................... 2,750
$15,360
Required:
1. Prepare a statement of cost of goods manufactured for June.
2. Prepare an income statement for June.
3. Prepare a balance sheet as of June 30.
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