QS 14-11 (Algo) Preparing an income statement LO P1 Prepare an income statement for Rex Manufacturing for the year ended December 31 using the following information. Hint Not all information given is needed for the solution. Finished goods inventory, ending General and administrative expenses $ 16,800 14,800 18,800 19,800 40,800 Accounts receivable Finished goods inventory, beginning Cost of goods manufactured Selling expenses 12,800 55,800 28,800 Cash Land Sales Equipment 93,600 1,800 REX MANUFACTURING
QS 14-11 (Algo) Preparing an income statement LO P1 Prepare an income statement for Rex Manufacturing for the year ended December 31 using the following information. Hint Not all information given is needed for the solution. Finished goods inventory, ending General and administrative expenses $ 16,800 14,800 18,800 19,800 40,800 Accounts receivable Finished goods inventory, beginning Cost of goods manufactured Selling expenses 12,800 55,800 28,800 Cash Land Sales Equipment 93,600 1,800 REX MANUFACTURING
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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 alt="QS 14-11 (Algo) Preparing an income statement LO P1
Prepare an income statement for Rex Manufacturing for the year ended December 31 using the following information. Hint Not all
information given is needed for the solution.
Finished goods inventory, ending
General and administrative expenses
$ 16,800
Accounts receivable
Finished goods inventory, beginning
Cost of goods manufactured
Selling expenses
14,800
18,800
19,800
40,800
12,800
55,800
28,800
Cash
Land
Sales
Equipment
93,600
1,800
REX MANUFACTURING
Income Statement
For Year Ended December 31
Cost of goods sold
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Transcribed Image Text:QS 14-11 (Algo) Preparing an income statement LO P1
Prepare an income statement for Rex Manufacturing for the year ended December 31 using the following information. Hint Not all
information given is needed for the solution.
Finished goods inventory, ending
General and administrative expenses
$ 16,800
Accounts receivable
Finished goods inventory, beginning
Cost of goods manufactured
Selling expenses
14,800
18,800
19,800
40,800
12,800
55,800
28,800
Cash
Land
Sales
Equipment
93,600
1,800
REX MANUFACTURING
Income Statement
For Year Ended December 31
Cost of goods sold
< Prev
5 of 10
ere to search
Next>

Transcribed Image Text:QS 14-8 (Algo) Computing cost of goods sold for a manufacturer LO P1
Compute cost of goods sold using the following information.
Finished goods inventory, beginning
Work in process inventory, beginning
Work in process inventory, ending
Cost of goods manufactured
Finished goods inventory, ending
$ 366,000
85,500
75,600
961,300
316,000
Cost of Goods Sold is Computed as:
Cost of goods sold
2$
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