The following data from the just completed year are taken from the accounting records of Kenton Company:
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Question:
The following data from the just completed year are taken from the accounting records of Kenton Company:
Sales
875,000
Direct labor cost
165,000
Raw material purchases
129,000
Selling expense
48,750
Administrative expenses
146,250
Manufacturing overhead applied to work in process
180,000
Inventories:
Beginning
Ending
Raw materials
18,000
15,000
Work in process
20,000
15,000
Finished goods
9,000
11,000
Required:
Prepare Statement of Cost of Goods Manufactured and Income Statement & fill up following Blanks
A) Raw Material Used
B) Prime Cost
C) Conversion Cost
D) Manufacturing Cost
E) Cost of Goods Manufactured
F) Cost of Goods Sold
G) Net Profit
Posted Date: