ELLY MANUFACTURING COMPANY June 30, 2018 $ 27,000 Beginning Direct х Beginning Direct Materials Purchases of Direct Materials 56,000 84,000 Ending Direct Materials (20,000) х Direct Direct 44,000 - Manufacturing Overhead 180,000 Total Total Costs Costs (25,000) Ending ELLY MANUFACTURING COMPANY June 30, 2018 Net Sales Revenue х Cost of Goods Sold: Beginning, $ 110,000 Cost of Goods Ending Cost of Goods Sold 232,000 Gross Profit 258,000 Expenses: Selling Expenses 98,000 Administrative Expenses х Total 160,000 Income T1
ELLY MANUFACTURING COMPANY June 30, 2018 $ 27,000 Beginning Direct х Beginning Direct Materials Purchases of Direct Materials 56,000 84,000 Ending Direct Materials (20,000) х Direct Direct 44,000 - Manufacturing Overhead 180,000 Total Total Costs Costs (25,000) Ending ELLY MANUFACTURING COMPANY June 30, 2018 Net Sales Revenue х Cost of Goods Sold: Beginning, $ 110,000 Cost of Goods Ending Cost of Goods Sold 232,000 Gross Profit 258,000 Expenses: Selling Expenses 98,000 Administrative Expenses х Total 160,000 Income T1
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Preparing a schedule of cost of goods manufactured and an income statement for a manufacturing company
Certain item descriptions and amounts are missing from the monthly schedule of cost of goods manufactured and income statement of Elly Manufacturing Company. Fill in the blanks with the missing words, and replace the Xs with the correct amounts.
Transcribed Image Text:ELLY MANUFACTURING COMPANY
June 30, 2018
$ 27,000
Beginning
Direct
х
Beginning Direct Materials
Purchases of Direct Materials
56,000
84,000
Ending Direct Materials
(20,000)
х
Direct
Direct
44,000
- Manufacturing Overhead
180,000
Total
Total
Costs
Costs
(25,000)
Ending
Transcribed Image Text:ELLY MANUFACTURING COMPANY
June 30, 2018
Net Sales Revenue
х
Cost of Goods Sold:
Beginning,
$ 110,000
Cost of Goods
Ending
Cost of Goods Sold
232,000
Gross Profit
258,000
Expenses:
Selling Expenses
98,000
Administrative Expenses
х
Total
160,000
Income
T1
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