Margaret Rosenthal, accountant for Russell Manufacturing Company, prepared the following income statement for the quarter ending...

   

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Margaret Rosenthal, accountant for Russell Manufacturing Company, prepared the following income statement for the quarter ending December 31, 2019. Sales Purchases of materials (1) Payroll (2) Advertising Administrative travel Manufacturing utilities Facility rental (3) Depreciation (4) Sales commissions Annual insurance (manufacturing) office utilities Ranagement salaries (5) Net Incone Notes (1) 90% of the materials were dired (2) 80% direct labour, 20% indirect labour (3) 80% related to manufacturing (4) B0% related to manufacturing (5) 30% related to manufacturing $1,384,100 247,290 267,100 37,300 27,900 50,000 93,000 64,100 44,000 43,000 22,700 391,000 96.720 S Furthermore Rosenthal compiled the following information with respect to inventories for the quarter (note that the company does not maintain inventories of indirect materials). Direct materials Work-in-progress Finished goods Beginning Ending $7,420 $8,740 10,000 7,750 8,620 11,830 2. Prepare a cost of goods manufactured statement for the quarter. 3. Prepare a revised income statement for the quarter Margaret Rosenthal, accountant for Russell Manufacturing Company, prepared the following income statement for the quarter ending December 31, 2019. Sales Purchases of materials (1) Payroll (2) Advertising Administrative travel Manufacturing utilities Facility rental (3) Depreciation (4) Sales commissions Annual insurance (manufacturing) office utilities Ranagement salaries (5) Net Incone Notes (1) 90% of the materials were dired (2) 80% direct labour, 20% indirect labour (3) 80% related to manufacturing (4) B0% related to manufacturing (5) 30% related to manufacturing $1,384,100 247,290 267,100 37,300 27,900 50,000 93,000 64,100 44,000 43,000 22,700 391,000 96.720 S Furthermore Rosenthal compiled the following information with respect to inventories for the quarter (note that the company does not maintain inventories of indirect materials). Direct materials Work-in-progress Finished goods Beginning Ending $7,420 $8,740 10,000 7,750 8,620 11,830 2. Prepare a cost of goods manufactured statement for the quarter. 3. Prepare a revised income statement for the quarter

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1 Prepare the cost of goods manufactured statement for the quarter Direct materials Beginning direct ... View the full answer