Question

The adjusted trial balance for Terre Haute Plastics Inc. 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
Depreciation­building . . . . . . . . . . . . . . . . . . . . . . . ........ 3,000
Depreciation­machinery 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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  • CreatedMay 05, 2014
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