Venus Corporations accounting manager recently left the company without completing the companys schedule of cost of goods
Question:
Required
A. Supply the missing data.
B. Prepare an income statement for the month. Sales totaled $415,000 for December, and selling and administrative expenses were$31,900.
Transcribed Image Text:
Venus Corporation Schedule of Cost of Goods Manufactured For the month ended December 31, 2009 Direct Materials: Beginning raw materials aw material purchases Raw materials available S16,000 164,000 Ending raw material:s Raw materials used in production $154,500 Direct Labor Manufacturing Overhead Indirect labor Glue and fasteners Equipment depreciation Factory depreciation Factory insurance Property taxes Utilities 1,080 11,210 4,300 2,420 3,600 2,100 Total manufacturing overhead Total manufacturing costs Add: Beginning work in process 52,010 269,760 288,590 Deduct: Ending work in process Cost of goods manufactured 12,940 Beginning Balance Ending Balance Inventories Raw materials Work in process Finished goods $16,000 $12,940 23,000 17,830
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A Raw materials purchases 148000 Ending raw materials 9500 Direct labor 63250 Ind...View the full answer
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Related Book For
Managerial Accounting A Focus on Ethical Decision Making
ISBN: 978-0324663853
5th edition
Authors: Steve Jackson, Roby Sawyers, Greg Jenkins
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