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NOMOR 1 Berikut adalah data terkait produksi untuk PT AAA untuk bulan Maret 2024, Anda diminta untuk membuat Cost of Goods Sold dan Income Statement. Direct materials, March 1, 2024 Work in process, March 1, 2024 Finished goods, March 1, 2024 $ 14,000 20,000 45,000 Property tax-factory 12,000 Rent expense-selling and administrative 28,000 Material handling cost 12,500 Purchased of direct materials 275,000 Overtime factory labor 9,000 Discount on purchased of direct materials 11,000 Depreciation expense – factory building 18,000 Purchased Return & Allowances on direct materials 7,500 Selling and administrative salaries 40,000 Freight in 10,000 Directors' salaries 65,000 Direct labor cost 225,000 Depreciation expense - factory equipment 36,000 Indirect labor cost 25,000 Depreciation expense - selling and administrative 15,000 Production's supervisor salary 30,000 Sales 1,250,000 Utility cost-factory 18,500 Sales return and allowances 22,000 Utility cost-selling and administrative 21,000 Delivery expense 17,500 Advertising expense 15,000 Direct materials, March 31, 2024 18,000 Indirect materials used 25,000 Work in process, March 31, 2024 28,000 Insurance expense - factory 24,000 Finished goods, March 31, 2024 38,000 Insurance expense - selling and administrative 8,000

NOMOR 1 Berikut adalah data terkait produksi untuk PT AAA untuk bulan Maret 2024, Anda diminta untuk membuat Cost of Goods Sold dan Income Statement. Direct materials, March 1, 2024 Work in process, March 1, 2024 Finished goods, March 1, 2024 $ 14,000 20,000 45,000 Property tax-factory 12,000 Rent expense-selling and administrative 28,000 Material handling cost 12,500 Purchased of direct materials 275,000 Overtime factory labor 9,000 Discount on purchased of direct materials 11,000 Depreciation expense – factory building 18,000 Purchased Return & Allowances on direct materials 7,500 Selling and administrative salaries 40,000 Freight in 10,000 Directors' salaries 65,000 Direct labor cost 225,000 Depreciation expense - factory equipment 36,000 Indirect labor cost 25,000 Depreciation expense - selling and administrative 15,000 Production's supervisor salary 30,000 Sales 1,250,000 Utility cost-factory 18,500 Sales return and allowances 22,000 Utility cost-selling and administrative 21,000 Delivery expense 17,500 Advertising expense 15,000 Direct materials, March 31, 2024 18,000 Indirect materials used 25,000 Work in process, March 31, 2024 28,000 Insurance expense - factory 24,000 Finished goods, March 31, 2024 38,000 Insurance expense - selling and administrative 8,000

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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Here is the production data for PT AAA for March 2024. You are requested to prepare the Cost of Goods Sold and Income Statement. 

Could you break it down into step-by-step instructions so that I can learn as well?

NOMOR 1 Berikut adalah data terkait produksi untuk PT AAA untuk bulan Maret 2024, Anda diminta untuk membuat Cost of Goods Sold dan Income Statement. Direct materials, March 1, 2024 Work in process, March 1, 2024 Finished goods, March 1, 2024 $ 14,000 20,000 45,000 Property tax-factory 12,000 Rent expense-selling and administrative 28,000 Material handling cost 12,500 Purchased of direct materials 275,000 Overtime factory labor 9,000 Discount on purchased of direct materials 11,000 Depreciation expense – factory building 18,000 Purchased Return & Allowances on direct materials 7,500 Selling and administrative salaries 40,000 Freight in 10,000 Directors' salaries 65,000 Direct labor cost 225,000 Depreciation expense - factory equipment 36,000 Indirect labor cost 25,000 Depreciation expense - selling and administrative 15,000 Production's supervisor salary 30,000 Sales 1,250,000 Utility cost-factory 18,500 Sales return and allowances 22,000 Utility cost-selling and administrative 21,000 Delivery expense 17,500 Advertising expense 15,000 Direct materials, March 31, 2024 18,000 Indirect materials used 25,000 Work in process, March 31, 2024 28,000 Insurance expense - factory 24,000 Finished goods, March 31, 2024 38,000 Insurance expense - selling and administrative 8,000
Transcribed Image Text:NOMOR 1 Berikut adalah data terkait produksi untuk PT AAA untuk bulan Maret 2024, Anda diminta untuk membuat Cost of Goods Sold dan Income Statement. Direct materials, March 1, 2024 Work in process, March 1, 2024 Finished goods, March 1, 2024 $ 14,000 20,000 45,000 Property tax-factory 12,000 Rent expense-selling and administrative 28,000 Material handling cost 12,500 Purchased of direct materials 275,000 Overtime factory labor 9,000 Discount on purchased of direct materials 11,000 Depreciation expense – factory building 18,000 Purchased Return & Allowances on direct materials 7,500 Selling and administrative salaries 40,000 Freight in 10,000 Directors' salaries 65,000 Direct labor cost 225,000 Depreciation expense - factory equipment 36,000 Indirect labor cost 25,000 Depreciation expense - selling and administrative 15,000 Production's supervisor salary 30,000 Sales 1,250,000 Utility cost-factory 18,500 Sales return and allowances 22,000 Utility cost-selling and administrative 21,000 Delivery expense 17,500 Advertising expense 15,000 Direct materials, March 31, 2024 18,000 Indirect materials used 25,000 Work in process, March 31, 2024 28,000 Insurance expense - factory 24,000 Finished goods, March 31, 2024 38,000 Insurance expense - selling and administrative 8,000
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