Sandhill Manufacturing Company has the following data at June 30, 2022: Raw materials inventory, June 1 $ 16,640 Work in process inventory, June 1 21,680 Finished goods inventory, June 1 52,200 Total manufacturing costs 516,000 Sales 696,000 Work in process inventory, June 30 36,520 Finished goods inventory, June 30 66,160 Raw materials inventory, June 30 21,600 a) Prepare an income statement through gross profit for the month of June.
Sandhill Manufacturing Company has the following data at June 30, 2022: Raw materials inventory, June 1 $ 16,640 Work in process inventory, June 1 21,680 Finished goods inventory, June 1 52,200 Total manufacturing costs 516,000 Sales 696,000 Work in process inventory, June 30 36,520 Finished goods inventory, June 30 66,160 Raw materials inventory, June 30 21,600 a) Prepare an income statement through gross profit for the month of June.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Sandhill Manufacturing Company has
the following data at June 30, 2022:
Raw materials inventory, June 1 $
16,640
Work in process inventory, June 1
21,680
Finished goods inventory, June 1
52,200
Total manufacturing costs 516,000
Sales 696,000
Work in process inventory, June 30
36,520
Finished goods inventory, June 30
66,160
Raw materials inventory, June 30
21,600
a) Prepare an income statement
through gross profit for the month of
June.
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