Consider the following information for Fair Wind Yachts Inc., a manufacturer of sailboat rigging, blocks, and cordage. $ 159,500 78,800 329,500 51,650 25,500 32,250 457,500 550,000 288,000 56,900 AC²000 46,800 37,700 25,800 40,750 Advertising expenses Depreciation expense-administrative office Depreciation expense-plant and equipment Depreciation expense-delivery trucks Materials inventory, beginning Make Materials inventory, ending Materia Direct Direct Direct parece Indirect labor Lawy materials purchases labor Finished goods inventory, beginning Finished goods inventory, ending Insurance on plant ansurance neat and Heat and light for plant Repairs on plant building Supervisor's salary-plant Supplies-plant Supplies-administrative office Work-in-process inventory, beginning Work-in-process inventory, ending Sales representatives' salaries Sales revenue 100, 850 133,900 133 900 80,850 35,750 42,800 329,750 3,082,000 Required: Prepare a statement of cost of goods manufactured and an income statement for Fair Wind Yachts for the year ended December 31.

Consider the following information for Fair Wind Yachts Inc., a manufacturer of sailboat rigging, blocks, and cordage. $ 159,500 78,800 329,500 51,650 25,500 32,250 457,500 550,000 288,000 56,900 AC²000 46,800 37,700 25,800 40,750 Advertising expenses Depreciation expense-administrative office Depreciation expense-plant and equipment Depreciation expense-delivery trucks Materials inventory, beginning Make Materials inventory, ending Materia Direct Direct Direct parece Indirect labor Lawy materials purchases labor Finished goods inventory, beginning Finished goods inventory, ending Insurance on plant ansurance neat and Heat and light for plant Repairs on plant building Supervisor's salary-plant Supplies-plant Supplies-administrative office Work-in-process inventory, beginning Work-in-process inventory, ending Sales representatives' salaries Sales revenue 100, 850 133,900 133 900 80,850 35,750 42,800 329,750 3,082,000 Required: Prepare a statement of cost of goods manufactured and an income statement for Fair Wind Yachts for the year ended December 31.

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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