Question: can you show the calculation Problems 10-2 Determining income statement amounts for a manufacturer (L010-1, LO10-3, LO10-12) The following information pertains to Yuji Corporation: Raw
Problems 10-2 Determining income statement amounts for a manufacturer (L010-1, LO10-3, LO10-12) The following information pertains to Yuji Corporation: Raw materials inventory Work-in-process inventory Finished goods inventory January 1, 20x1 $ 34,000 126,800 76,000 December 31, 20x1 $ 38,000 145,000 68,000 Costs incurred during the year 20x1 were as follows: Raw material purchased Wages to factory workers Salary to factory supervisors Salary to selling and administrative staff Depreciation on factory building and equipment Depreciation on office building Utilities for factory building Utilities for office building 5116,000 55,000 25,000 40,000 10,000 12,000 5,000 7.500 Required: Sales revenue during 20x1 was $300,000. The income tax rate is 21% Compute the following: Amounts 1. Cost of raw materials used 2 Cost of goods manufactured completed 3. Cost of goods sold 4. Gross margin 5. Net income
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