Inventories December 31 January 1 $ 44,250 Materials $31,700 Work in process Finished goods 80,000 63,900 101,200 99,800 $ 400,000 Advertising expense Depreciation expense-office equipment Depreciation expense-factory equipment 30,000 80,000 Direct labor 1,100,000 Heat, light, and power-factory 53,300 Indirect labor 115,000 Materials purchased Office salaries expense 556,600 $ 318,000 Property taxes-factory Property taxes-office building Rent expense-factory 40,000 25,000 27,000 Sales 3,850,000 Sales salaries expense Supplies-factory Miscellaneous costs-factory 200,000 9,500 11,400

Inventories December 31 January 1 $ 44,250 Materials $31,700 Work in process Finished goods 80,000 63,900 101,200 99,800 $ 400,000 Advertising expense Depreciation expense-office equipment Depreciation expense-factory equipment 30,000 80,000 Direct labor 1,100,000 Heat, light, and power-factory 53,300 Indirect labor 115,000 Materials purchased Office salaries expense 556,600 $ 318,000 Property taxes-factory Property taxes-office building Rent expense-factory 40,000 25,000 27,000 Sales 3,850,000 Sales salaries expense Supplies-factory Miscellaneous costs-factory 200,000 9,500 11,400

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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