Santana Rey, owner of Business Solutions, decides to diversify her business by also manufacturing computer workstation furniture. Prepare a schedule of cost of goods manufactured for Business Solutions for the month ended January 31, 2020. Assume the following manufacturing costs: Direct materials: $2,200 Factory overhead: $490 Direct labor: $900 Beginning work in process: none (December 31, 2019) Ending work in process: $540 (January 31, 2020) Beginning finished goods inventory: none (December 31, 2019) Ending finished goods inventory: $350 (January 31, 2020) . Prepare the cost of goods sold section of a partial income statement for Business Solutions for the month ended January 31, 2020.
Santana Rey, owner of Business Solutions, decides to diversify her business by also manufacturing
computer workstation furniture. Prepare a schedule of cost of goods manufactured for Business Solutions for the month ended January
31, 2020. Assume the following
Direct materials: $2,200
Factory
Direct labor: $900
Beginning work in process: none (December 31, 2019)
Ending work in process: $540 (January 31, 2020)
Beginning finished goods inventory: none (December 31, 2019)
Ending finished goods inventory: $350 (January 31, 2020)
. Prepare the cost of goods sold section of a partial income statement for Business Solutions for the
month ended January 31, 2020.
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