Q # 5 The following data pertain to Spartan Products Company: Sales Revenue 1,000,000 Direct materials inventory, Jan 1, 2004 20,000 Direct labor-Wages 350,000 Depreciation expense-Plant and equipment 80,000 Indirect labor-Wages 5,000 Heat, Light, and power - Plant 12,000 Supervisor's salary-Plant
Q # 5
The following data pertain to Spartan Products Company:
|
Sales Revenue |
1,000,000 |
|
Direct materials inventory, Jan 1, 2004 |
20,000 |
|
Direct labor-Wages |
350,000 |
|
|
80,000 |
|
Indirect labor-Wages |
5,000 |
|
Heat, Light, and power - Plant |
12,000 |
|
Supervisor's salary-Plant |
40,000 |
|
Finished goods inventory, Jan 1, 2004 |
35,000 |
|
Work in Process inventory, Dec, 31, 2004 |
25,000 |
|
Supplies-Administrative office |
6,000 |
|
Property taxes-Plant |
13,000 |
|
Finished goods inventory, Dec 31, 2004 |
40,000 |
|
Direct materials inventory, Dec 31, 2004 |
30,000 |
|
Sales representative's salaries |
190,000 |
|
Work in Process inventory, Jan, 1, 2004 |
35,000 |
|
Direct materials purchases |
100,000 |
|
Supplies-Plant |
4,000 |
|
Depreciation-Administrative office |
30,000 |
Required
Prepare a statement of cost of goods manufactured and an income statement for Spartan Products Company for the year ended December 31, 2004,
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