23. The following information is available for Marks Company at December 31, 2019: 1. Inventory balance...

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23. The following information is available for Marks Company at December 31, 2019: 1. Inventory balance We Beginning of Year End of Year $14,000 $10,000 6,000 10,300 $31 Finished Goods Work in Process Raw Materials 1.470 2. Debit postings to Work in Process Inventory during the year were: Direct materials Direct labor Manufacturing overhead applied of $3,060 3. Sales totaled $310,000 for the year. (a) (b) The Instructions Prepare a condensed cost of goods manufactured schedule. Prepare an income statement for the year through gross profit. 12,000 6,500 $90,000 60,000 75,000 23. The following information is available for Marks Company at December 31, 2019: 1. Inventory balance We Beginning of Year End of Year $14,000 $10,000 6,000 10,300 $31 Finished Goods Work in Process Raw Materials 1.470 2. Debit postings to Work in Process Inventory during the year were: Direct materials Direct labor Manufacturing overhead applied of $3,060 3. Sales totaled $310,000 for the year. (a) (b) The Instructions Prepare a condensed cost of goods manufactured schedule. Prepare an income statement for the year through gross profit. 12,000 6,500 $90,000 60,000 75,000

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a Condensed Cost of Goods Manufactured Schedule Direct materials Beginning raw materials inven... View the full answer