Aikman Corporation has the following cost records for June 2022: Indirect factory labour Direct materials used Work in process (6/1/22) Work in process (6/30/22) Finished goods (6/1/22) Finished goods (6/30/22) $4,600 Factory utilities 26,000 Depreciation, factory equipment 3,400 3,000 5,300 9,000 Direct labour Maintenance, factory equipment Indirect materials Factory manager's salary $600 1,400 30,000 2,000 2,300 3,350

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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Aa 136.

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Aikman Corporation has the following cost records for June 2022:
Indirect factory labour
Direct materials used
Work in process (6/1/22)
Work in process (6/30/22)
Finished goods (6/1/22)
Finished goods (6/30/22)
$4,600
26,000
Factory utilities
Depreciation, factory equipment
Direct labour
Maintenance, factory equipment
3,400
3,000
5,300 Indirect materials
9,000
Factory manager's salary
$600
1,400
30,000
2,000
2,300
3,350
Transcribed Image Text:Current Attempt in Progress Aikman Corporation has the following cost records for June 2022: Indirect factory labour Direct materials used Work in process (6/1/22) Work in process (6/30/22) Finished goods (6/1/22) Finished goods (6/30/22) $4,600 26,000 Factory utilities Depreciation, factory equipment Direct labour Maintenance, factory equipment 3,400 3,000 5,300 Indirect materials 9,000 Factory manager's salary $600 1,400 30,000 2,000 2,300 3,350
Prepare an income statement through gross profit for June 2022, assuming net sales are $91,500. (Enter negative amounts
using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
AIKMAN CORPORATION
Income Statement (Partial)
:
#
[
$
Transcribed Image Text:Prepare an income statement through gross profit for June 2022, assuming net sales are $91,500. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) AIKMAN CORPORATION Income Statement (Partial) : # [ $
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