The following data relates to the Buffalo Co.: Direct Materials Inventory, Beginning $500 Direct Materials Inventory, Ending
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Question:
The following data relates to the Buffalo Co.: |
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Direct Materials Inventory, Beginning | $500 |
Direct Materials Inventory, Ending | $400 |
Direct Materials Purchases | $3,500 |
Direct Labor | $2,500 |
Manufacturing Overhead | $2,000 |
Work-in-Process Inventory, Beginning | $1,400 |
Work-in-Process Inventory, Ending | $1,000 |
Finished Goods Inventory, Beginning | $3,500 |
Finished Goods Inventory, Ending | $3,300 |
? | ? |
Sales Revenue | $15,000 |
Selling and Administrative Expenses | $4,000 |
? | ? |
Income Tax Rate | 20% |
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Required: |
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a. Prepare a Statement of Cost of Goods Manufactured. |
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b. Prepare an Income Statement. |
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Related Book For
College Accounting Chapters 1-30
ISBN: 978-1259631115
15th edition
Authors: John Price, M. David Haddock, Michael Farina
Posted Date: