SRaw materialsWork in processFinished goodsBeginning Inventory$ 28,10022,20079,400Raw materials purchasesIndirect materials usedDirect laborAdditional information for the month of March follows:Manufacturing overhead appliedSelling, general, and administrative expensesSales revenueRequired 1 Required 2InventoryRequired:1. Based on the above information, prepare a cost of goods manufactured report.2. Based on the above information, prepare an income statement for the month of March.Complete this question by entering your answers in the tabs below.$ 25,30045,60068,900Sales RevenueLess: Cost of Goods SoldBeginning Finished Goods InventoryLess: Ending Finished Goods InventoryCost of Goods SoldGross ProfitBased on the above information, prepare an income statement for the month of March.Stor Smart CompanyIncome StatementFor the Month of MarchNet Income (Loss) from Operations$ 41,3001,80063,90036,00024,900237,600

The cost of goods manufactured timetable is used to determine the cost of producing goods over a…

Raw materials Work in process Finished goods $ 28,100 22, 200 79,400 Raw materials purchases Indirect materials used Direct labor Additional information for the month of March follows: $ 25,300 45,600 68,900 Manufacturing overhead applied. Selling, general, and administrative expenses Sales revenue $ 41,300 1,800 63,900 36,000 24,900 237,600

Raw materials Work in process Finished goods $ 28,100 22, 200 79,400 Raw materials purchases Indirect materials used Direct labor Additional information for the month of March follows: $ 25,300 45,600 68,900 Manufacturing overhead applied. Selling, general, and administrative expenses Sales revenue $ 41,300 1,800 63,900 36,000 24,900 237,600

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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Direct materials used in production 187,200 Total manufacturing costs during the period Ending balance in Work in Process Manufacturing overhead 64,100 Direct materials purchased 341,000 23,100 188,600 How much is the direct labor cost?
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