Spades Company provided the following information for the year ended December 31, 2022: Sales 8,000.000 Sales salaries 520.000 Advertising Indirect labor Delivery expense Freight in Depreciation - machinery Factory tases Purchases 120.000 600.000 160.000 80.000 50.000 130.000 1.600.000 Direct labor 1.480.000 Factory supplies expense Office supplies expense Office salaries 120.000 30.000 800.000 Factory superintendence 480.000 Doubtful accounts 100.000 Factory maintenance Factory heat, light and power 150.000 220.000 Income tax expense 170.000 Inventory balances at the end of the fiscal period as compared with balances at the beginning of the fiscal period were as followz Finished goods Goods in process 200,000 decrease 90.000 decrease Raw materials 100.000 increase
Spades Company provided the following information for the year ended December 31, 2022: Sales 8,000.000 Sales salaries 520.000 Advertising Indirect labor Delivery expense Freight in Depreciation - machinery Factory tases Purchases 120.000 600.000 160.000 80.000 50.000 130.000 1.600.000 Direct labor 1.480.000 Factory supplies expense Office supplies expense Office salaries 120.000 30.000 800.000 Factory superintendence 480.000 Doubtful accounts 100.000 Factory maintenance Factory heat, light and power 150.000 220.000 Income tax expense 170.000 Inventory balances at the end of the fiscal period as compared with balances at the beginning of the fiscal period were as followz Finished goods Goods in process 200,000 decrease 90.000 decrease Raw materials 100.000 increase
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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