Required: Complete the following (in dollars):a Schedule of Cost of Goods Manufacturedb. Cost of Goodsc. Income Statement in good formSalesRaw Materials UsedDirect Labor CostsPeriod Costs (Selling and Administrative)Beginning Raw Material InventoryEnding Raw Material InventoryRaw Materials PurchasedBeginning Work-in-Process InventoryEnding Work-in-Process InventoryBeginning Finished Goods InventoryEnding Finished Goods InventoryApplied Manufacturing OverheadNOTE: All raw materials used were direct materials.$12,0002,5001,0002.5003001,0003,20003007004005,700

A cost of goods manufactured is the cost of goods which has been actually manufactured during the…

Answered: a Schedule of Cost of Goods…

Business

Accounting

a Schedule of Cost of Goods Manufactured b. Cost of Goods c Income Statement in good form

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

Required: Complete the following (in dollars):
a Schedule of Cost of Goods Manufactured
b. Cost of Goods
c. Income Statement in good form
Sales
Raw Materials Used
Direct Labor Costs
Period Costs (Selling and Administrative)
Beginning Raw Material Inventory
Ending Raw Material Inventory
Raw Materials Purchased
Beginning Work-in-Process Inventory
Ending Work-in-Process Inventory
Beginning Finished Goods Inventory
Ending Finished Goods Inventory
Applied Manufacturing Overhead
NOTE: All raw materials used were direct materials.
$12,000
2,500
1,000
2.500
300
1,000
3,200
0
300
700
400
5,700

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