The account balances for Tim Manufacturing for 2022 are as follows: Sales Revenue $950,000 Selling and administrative expenses 150,000 Income tax expense 90,000 Purchases of raw material 180,000 Raw material inventory, December 31 25,000 Raw material inventory, January 1 40,000 Direct labor 200,000 Utilities: plant 40,000 Depreciation: plant and equipment 60,000 Indirect material 10,000 Indirect labor 15,000 Other manufacturing overhead 80,000 Work in process inventory, December 31 30,000 Work in process inventory, January 1 40,000 Finished goods inventory, December 31 50,000 Finished goods inventory, January 1 20,000 

Complete the following:

 
Need cost of goods purchased statement for 2022.  

Need a cost of goods sold statement for 2022.
 Need the income statement for 2022.

Answer rating: 100% (QA)

To prepare the cost of goods purchased statement we need to calculate the total cost of goods purcha... View the full answer