1.prepare cost of goods sold manufacture.2. prepare income statement Chapter 14 In Class WorkBased on the following information and using the attachments, prepare a manufacturing statement and acomplete income statement for this manufacturing company for the year 2013:Advertising ExpenseAmortization Expense - Factory PatentsBad Debts ExpenseDepreciation Expense - Office EquipmentDepreciation Expense - Factory BuildingDepreciation Expense - Factory EquipmentFactory PayrollFactory InsuranceFactory SuppliesFactory UtilitiesFinished Goods Inventory, 12/31/2012Finished Goods Inventory, 12/31/2013Income TaxesIndirect LaborInterest ExpenseMiscellaneous Expense - not factoryGoods in Process Inventory, 12/31/2012Goods in Process Inventory, 12/31/2013Factory Property TaxesFactory Equipment RepairsSales Salaries ExpenseSalesRaw Materials Inventory, 12/31/2012Raw Materials Inventory, 12/31/2013Indirect MaterialsRaw Material Purchases85,000.0016,000.0028,000.0037,000.00133,000.0078,000.00350,000.0062,000.0021,000.00115,000.0015,000.0012,500.0053,400.0026,000.0025,000.0055,000.008,000.009,000.0014,000.0031,000.00150,000.001,630,000.0060,000.0078,000.002,000.00313,000.00

Manufacturing statement shows all costs and expenses incurred for production and manufacturing of…

Answered: 1.prepare cost of goods sold…

Business

Accounting

1.prepare cost of goods sold manufacture. 2. prepare income statement

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

1.prepare cost of goods sold manufacture.

2. prepare income statement

Chapter 14 In Class Work
Based on the following information and using the attachments, prepare a manufacturing statement and a
complete income statement for this manufacturing company for the year 2013:
Advertising Expense
Amortization Expense - Factory Patents
Bad Debts Expense
Depreciation Expense - Office Equipment
Depreciation Expense - Factory Building
Depreciation Expense - Factory Equipment
Factory Payroll
Factory Insurance
Factory Supplies
Factory Utilities
Finished Goods Inventory, 12/31/2012
Finished Goods Inventory, 12/31/2013
Income Taxes
Indirect Labor
Interest Expense
Miscellaneous Expense - not factory
Goods in Process Inventory, 12/31/2012
Goods in Process Inventory, 12/31/2013
Factory Property Taxes
Factory Equipment Repairs
Sales Salaries Expense
Sales
Raw Materials Inventory, 12/31/2012
Raw Materials Inventory, 12/31/2013
Indirect Materials
Raw Material Purchases
85,000.00
16,000.00
28,000.00
37,000.00
133,000.00
78,000.00
350,000.00
62,000.00
21,000.00
115,000.00
15,000.00
12,500.00
53,400.00
26,000.00
25,000.00
55,000.00
8,000.00
9,000.00
14,000.00
31,000.00
150,000.00
1,630,000.00
60,000.00
78,000.00
2,000.00
313,000.00

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