Following are the account balances for the DC Company in 2018: Beginning of 2018 Ending of 2018
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Question:
Following are the account balances for the DC Company in 2018:
Beginning of 2018 | Ending of 2018 | |
Direct materials inventory | 26,500 | 27,000 |
Work-in-process inventory | 30,500 | 28,400 |
Finished-goods inventory | 16,500 | 22,100 |
Purchases of direct materials | 79,000 | |
Direct manufacturing labor | 24,500 | |
Indirect manufacturing labor | 18,600 | |
Plant insurance | 7,900 | |
Depreciation-plant, building, and equipment | 11,800 | |
Repairs and maintenance-plant | 3,500 | |
Marketing, distribution, and customer-service costs | 87,900 | |
General and administrative costs | 26,500 |
Required:
1) Prepare a schedule for the cost of goods manufactured for 2018.
2) Revenues for 2018 was $425,000. Prepare the income statement for 2018.
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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