Thompson Company has the following information for the year ended April 31, 2018. Use the information to
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Use the information to prepare a schedule of cost of goods manufactured and an income statement. Assume no indirect materials are used and all amounts are shown in milions. Begin by preparing a schedule of cost of goods manufactured. Thompson Company Schedule of Cost of Goods Manufactured Year Ended December 31, 2018 Data Table (in millions) Inventory balances: Beginning Ending Work-in-Process 12 15 Finished Goods Other information: 11 16 Sales Revenue 215 Seling and Administrative Expenses 62 Diroct Labor 73 Cost of Goods Manufacturod Manufacturing Overhead; actual and alocated 22 Now prepare an incomo statement. Direct Muterials Used 25 Thompson Company Income Statement Print Done Year Ended December 31, 2018 (in millions) Cost of Goods Sold Gross Profit Net Income (Loss) Use the information to prepare a schedule of cost of goods manufactured and an income statement. Assume no indirect materials are used and all amounts are shown in milions. Begin by preparing a schedule of cost of goods manufactured. Thompson Company Schedule of Cost of Goods Manufactured Year Ended December 31, 2018 Data Table (in millions) Inventory balances: Beginning Ending Work-in-Process 12 15 Finished Goods Other information: 11 16 Sales Revenue 215 Seling and Administrative Expenses 62 Diroct Labor 73 Cost of Goods Manufacturod Manufacturing Overhead; actual and alocated 22 Now prepare an incomo statement. Direct Muterials Used 25 Thompson Company Income Statement Print Done Year Ended December 31, 2018 (in millions) Cost of Goods Sold Gross Profit Net Income (Loss)
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Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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