Question: Use the information below to prepare a COGM statement and a COGS statement for Paradise Marina as of June 30, 20XX. The statements must be
Use the information below to prepare a COGM statement and a COGS statement for Paradise Marina as of June 30, 20XX. The statements must be in the format that was taught in the lecture videos and the worksheets assigned for this class - no other format will be accepted. Not everything listed below will be used - Pick out the relevant information Inventories Raw Materials, July 1 Raw Materials, June 30 Work in Process, July 1 Work in Process, June 30 Finished Goods, July 1 Finished Goods, June 30 Administrative Salaries Depreciation Expense - Office Equip Depreciation Expense-Delivery Vehicle Depreciation Expense - Factory Equip Sales Discounts Factory maintenance Advertising Expense Direct Labor Factory Supplies used Income Tax Expense Indirect Labor Indirect Material Factory insurance Factory utilities Raw Material Purchases Rent Expense - Factory Rent Expense - Office Rent Expense - Selling Sales salaries Expense Sales 30,000 25,000 32,780 35,460 58,970 60,000 95,000 25,800 38,000 55,500 30,000 10,500 25,350 270,000 15,000 90,000 45,000 29,000 14,500 15,000 385,000 55,000 20,000 25,000 87,500 1,652,000
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