Mesa Designs produces a variety of hardware products, primarily for the do-it-yourself (DIY) market. As part of
Question:
Mesa Designs produces a variety of hardware products, primarily for the do-it-yourself (DIY) market. As part of your job interview as a summer intern at Mesa, the cost accountant provides you with the following (fictitious) data for the year (in $000):
Inventory information:1/1/0012/31/00Direct materials$49$56Work-in-process7769Finished goods9881,014
Other information:For the year '00Administrative costs$2,200Depreciation (Factory)2,830Depreciation (Machines)4,630Direct labor6,600Direct materials purchased5,160Indirect labor (Factory)1,680Indirect materials (Factory)490Property taxes (Factory)190Selling costs1,080Sales revenue30,610Utilities (Factory)540
Required:
Prepare the income statement with a supporting cost of goods sold statement.(Enter your answers in thousands of dollars (i.e., 234,000 should be entered as 234).)
Expert Answer:
Income Statement For the Year Ended 123100 in 000 Sales Revenue 30610 Cost of Goods ... View the full answer
