Activity 2 Alexandria Company provided the following data for the current year: Inventory end of the fiscal period as compared with balances at the beginning of the fiscal period were as follows: Finished goods 200,000 decrease Goods in process 90,000 decrease Raw materials 100,000 increase Indirect labor 600,000 Factory taxes 130,000 Sales 8,000,000 Purchase 1,600,000 Office salaries 800,000 Freight in 80,000 Income tax expense 170,000 Depreciation-machinery 50,000 Advertising 120,000 Office supplies expense 30,000 Factory Superintendence 480,000 Direct labor 1,480,000 Factory heat, light and power 220,000 Doubtful account 100,000 Factory supplies expense 120,000 Sales salaries 520,000 Delivery expense 160,000 Factory maintenance 150,000 Required: Prepare an income statement for the current year supported by a schedule of cost goods manufactured.
Activity 2
Alexandria Company provided the following data for the current year:
Inventory end of the fiscal period as compared with balances at the beginning of the fiscal period were as follows:
Finished goods 200,000 decrease
Goods in process 90,000 decrease
Raw materials 100,000 increase
|
Indirect labor |
600,000 |
|
Factory taxes |
130,000 |
|
Sales |
8,000,000 |
|
Purchase |
1,600,000 |
|
Office salaries |
800,000 |
|
Freight in |
80,000 |
|
Income tax expense |
170,000 |
|
|
50,000 |
|
Advertising |
120,000 |
|
Office supplies expense |
30,000 |
|
Factory Superintendence |
480,000 |
|
Direct labor |
1,480,000 |
|
Factory heat, light and power |
220,000 |
|
Doubtful account |
100,000 |
|
Factory supplies expense |
120,000 |
|
Sales salaries |
520,000 |
|
Delivery expense |
160,000 |
|
Factory maintenance |
150,000 |
Required:
Prepare an income statement for the current year supported by a schedule of cost goods manufactured.
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