The following information is available for Sunland Company at December 31, 2022: 1. 2. 3. Inventory...

 

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The following information is available for Sunland Company at December 31, 2022: 1. 2. 3. Inventory balance Finished Goods Work in Process Raw Materials Beginning of Year $16,240 6,960 11,948 Manufacturing overhead applied End of Year Sales totaled $359,600 for the year. $11,600 13,920 Debit postings to Work in Process Inventory during the year were: Direct materials $104,400 Direct labor 7,540 69,600 87,000 Prepare an income statement for the year through gross profit. Sales Revenue Cost of Goods Sold Finished Goods Inventory, January 1 Cost of Goods Manufactured Cost of Goods Available for Sale Cost of Goods Sold + Less : Finished Goods Inventory, December 31 Gross Profit SUNLANDCOMPANY (Partial) Income Statement $ ✪ +A The following information is available for Sunland Company at December 31, 2022: 1. 2. 3. Inventory balance Finished Goods Work in Process Raw Materials Beginning of Year $16,240 6,960 11,948 Manufacturing overhead applied End of Year Sales totaled $359,600 for the year. $11,600 13,920 Debit postings to Work in Process Inventory during the year were: Direct materials $104,400 Direct labor 7,540 69,600 87,000 Prepare an income statement for the year through gross profit. Sales Revenue Cost of Goods Sold Finished Goods Inventory, January 1 Cost of Goods Manufactured Cost of Goods Available for Sale Cost of Goods Sold + Less : Finished Goods Inventory, December 31 Gross Profit SUNLANDCOMPANY (Partial) Income Statement $ ✪ +A

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Cost of Goods Manufactured Direct Materials 104400 Direct Labor 69600 Manufacturing Overhead Applied ... View the full answer