The adjusted trial balance for Appleton Appliances, Ltd. On June 30, the end of its first month

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The adjusted trial balance for Appleton Appliances, Ltd. On June 30, the end of its first month of operation is as follows:
The adjusted trial balance for Appleton Appliances, Ltd. On June

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.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Principles of Cost Accounting

ISBN: 978-1305087408

17th edition

Authors: Edward J. Vanderbeck, Maria Mitchell

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