Operating information for the year ended December 31, 2025.

Accounts                                                                         Amount ($s) 

Depreciation of manufacturing equipment                  120,000

Depreciation of office equipment                                    60,000

Direct manufacturing labor                                               150,000

Direct Materials Control (01/01/2025)                              50,000

Direct Materials Control (12/31/2025)                               30,000

Direct materials purchased                                                 340,000

Finished Goods Inventory Control (01/01/2025)                55,000

Finished Goods Inventory Control (12/31/2025)                45,000

General office expenses                                                         100,000

Indirect manufacturing labor                                                   25,000

Indirect materials issued in production                              80,000

Manufacturing plant utilities                                                     95,000

Marketing and distribution costs                                            64,500

Miscellaneous manufacturing plant overhead                       50,000

Property taxes on manufacturing plant building                    20,000

Sales Commission                                                                       75,000 

Sales Revenue                                                                            2,150,000

Salespersons' company vehicle costs                                     18,000

Work-In-Process Inventory Control (01/01/2025)                135,000

Work-In-Process Inventory Control (12/31/2025)                 125,000

Task : 

Create an Income statement

Recreate T-Accounts

Answer rating: 100% (QA)

Income Statement for the year ended December 31 2025 Sales Revenue 2150000 Cost of Goods Sold Direct Materials Purchased 340000 Direct Manufacturing L... View the full answer