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) $4,850 25,700 Depreciation, factory equipment 3.000 3,500 5.350 8,950 AIKMAN CORPORATION Income Statement (Partial) Factory utilities $ $ Direct labour Maintenance, factory equipment Indirect materials Factory manager's salary $500 s 1,400 30,600 Prepare an income statement through gross profit for June 2022, assuming net sales are $94,400. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) 2,150 2,300 3,350
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) $4,850 25,700 Depreciation, factory equipment 3.000 3,500 5.350 8,950 AIKMAN CORPORATION Income Statement (Partial) Factory utilities $ $ Direct labour Maintenance, factory equipment Indirect materials Factory manager's salary $500 s 1,400 30,600 Prepare an income statement through gross profit for June 2022, assuming net sales are $94,400. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) 2,150 2,300 3,350
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text: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)
$4,850
>
25,700
<
3,000
3,500
5,350
8,950
AIKMAN CORPORATION
Income Statement (Partial)
$
Factory utilities
$
Depreciation, factory equipment
Direct labour
Maintenance, factory equipment
Indirect materials
Factory manager's salary
$500
1,400
Prepare an income statement through gross profit for June 2022, assuming net sales are $94,400. (Enter negative amounts using
either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
30,600
2,150
2,300
3,350
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