Reporting(Assignment #4)

Since Keisha was not paying much attention to the discussion on journal entries in her one accounting class, she does not understand what you provided in the previous part. However, she heard through her accountant that there is a manufacturing report that would provide her with the same information as the T-accounts and is more user-friendly. She believes that the report is called the Statement of Cost of Goods Manufactured.

Required: Prepare the Statement of Cost of Goods Manufactured for January. Also, prepare an Income Statement for the month of January.

Material Invento 0 2179 direct Beg bal flour baking soda Material invento 2329 150indirect flour 120 120 134 325 120 120 134 325 baking soda butter raison others butter raisonS others rum End bal Direct materials indirect materials 2179 150 work in material invento 2329 balance O Finished goods 5379 Selling & admin direct labor direct material direct labor manufacturing overhead End bal 2179 2400 2400 3100 able 3100 finished goods 2400 neice aunt keisha accountant inning balance finished goods 5379 100 5379 100 salaries Beg Balance 0 WIP 6079 500 selling & adm Ex 100 direct labor keisha nieces aunt accountant end bal 700 2400 direct labor sirect materials material overhead 3100 2179 2400 100 100 finished goods 5379 5379 Finished goods 5379 balance finished goods 5379 WIP end bal 5379 COGS 5379 selling & adm exp 62