Consider the following information Vanklomps Machining Inc for the month of March 2023: beginning finished goods inventory .......... $ 76,000 beginning work in process inventory ........ $ 39,000 direct labour costs ..................................... $ 42,000 direct material costs .................................. $ 186,000 ending finished goods inventory ............... $ 61,000 ending work in process inventory ............. $ 27,000 manufacturing overhead costs.................. $ 149,000 operating expenses ................................... $ 107,000 salary expense ........................................... $ 274,000 sales revenue............................................. $ 953,000 Requirements: 1. Prepare a schedule of the cost of goods manufactured for March. 2. Prepare a schedule of cost of goods sold for Mar
Consider the following information Vanklomps Machining Inc for the month of March 2023:
beginning finished goods inventory .......... $ 76,000
beginning work in process inventory ........ $ 39,000
direct labour costs ..................................... $ 42,000
direct material costs .................................. $ 186,000
ending finished goods inventory ............... $ 61,000
ending work in process inventory ............. $ 27,000
manufacturing
operating expenses ................................... $ 107,000
salary expense ........................................... $ 274,000
sales revenue............................................. $ 953,000
Requirements:
1. Prepare a schedule of the cost of goods manufactured for March.
2. Prepare a schedule of cost of goods sold for March.
3. Prepare an income statement for March.
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