Raw Materials, Ending - $14,000 1. Raw Materials, Beginning - $50,000 2. Raw Material purchased during...

Transcribed Image Text:

Raw Materials, Ending - $14,000 1. Raw Materials, Beginning - $50,000 2. Raw Material purchased during the month - $50,000. 3. Work-in Process, Beginning - $20,300 Work-in Process, Ending - $30,000 Finished Goods, Ending-$8,900 4. Finished Goods, Beginning - $12,390 5. Indirect Materials using in the production department - $10,340. 6. Indirect Labor using in the production department - $7,900 7. Selling and Administrative expenses-35% of sales revenues. Other indirect cost during the month - $4,550 8. 9. Direct labor- $45,000 10. General expenses - $4,560 11. Income Taxes -29% 12. Sales Revenues-400% mark-up of the Cost of Goods Sold. Required: Prepare the Schedule of Cost of Goods Sold and Income Statement for March 31, 2023.. Raw Materials, Ending - $14,000 1. Raw Materials, Beginning - $50,000 2. Raw Material purchased during the month - $50,000. 3. Work-in Process, Beginning - $20,300 Work-in Process, Ending - $30,000 Finished Goods, Ending-$8,900 4. Finished Goods, Beginning - $12,390 5. Indirect Materials using in the production department - $10,340. 6. Indirect Labor using in the production department - $7,900 7. Selling and Administrative expenses-35% of sales revenues. Other indirect cost during the month - $4,550 8. 9. Direct labor- $45,000 10. General expenses - $4,560 11. Income Taxes -29% 12. Sales Revenues-400% mark-up of the Cost of Goods Sold. Required: Prepare the Schedule of Cost of Goods Sold and Income Statement for March 31, 2023..

Answer rating: 100% (QA)

Lost of Goods Sold COGS 82690 50000 124790 2 50000 20300 12390 ... View the full answer