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I need support with the statement of cost of goods manufactured and he income statement.   Please show me the formulas for how you came up with the answer.   Thank you.

I need support with the statement of cost of goods manufactured and he income statement.   Please show me the formulas for how you came up with the answer.   Thank you.

FINANCIAL ACCOUNTING
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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I need support with the statement of cost of goods manufactured and he income statement.

 

Please show me the formulas for how you came up with the answer.

 

Thank you.

Inventories January 1 December 31 Materials $ 77,350 $ 95,550 Work in process 109,200 96,200 Finished goods 113,750 100,100 Advertising expense $ 68,250 Depreciation expense-office equipment 22,750 Depreciation expense-factory equipment 14,560 Direct labor 186,550 Heat, light, and power-factory 5,850 Indirect labor 23,660 Materials purchased 123,500 Office salaries expense 77,350 Property taxes-factory 4,095 Property taxes-headquarters building 13,650 Rent expense-factory 6,825 Sales 864,500 Sales salaries expense 136,500 Supplies-factory 3,250 Miscellaneous costs-factory 4,420
Transcribed Image Text:Inventories January 1 December 31 Materials $ 77,350 $ 95,550 Work in process 109,200 96,200 Finished goods 113,750 100,100 Advertising expense $ 68,250 Depreciation expense-office equipment 22,750 Depreciation expense-factory equipment 14,560 Direct labor 186,550 Heat, light, and power-factory 5,850 Indirect labor 23,660 Materials purchased 123,500 Office salaries expense 77,350 Property taxes-factory 4,095 Property taxes-headquarters building 13,650 Rent expense-factory 6,825 Sales 864,500 Sales salaries expense 136,500 Supplies-factory 3,250 Miscellaneous costs-factory 4,420
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