Statement of cost of goods manufactured and income statement for a manufacturing companyThe following information is available for Robstown Corporation for 20Y8:Inventories January 1 December 31Materials $ 44,250 $ 31,700Work in process 63,900 80,000Finished goods 101,200 99,800Advertising expense $ 400,000Depreciation expense—office equipment 30,000Depreciation expense—factory equipment 80,000Direct labor 1,100,000Heat, light, and power—factory 53,300Indirect labor 115,000Materials purchased 556,600Office salaries expense 318,000Property taxes—factory 40,000Property taxes—office building 25,000Rent expense—factory 27,000Sales 3,850,000Sales salaries expense 200,000Supplies—factory 9,500Miscellaneous costs—factory 11,400 Instructions1. Prepare the 20Y8 statement of cost of goods manufactured.2. Prepare the 20Y8 income statement.
Statement of cost of goods manufactured and income
statement for a manufacturing company
The following information is available for Robstown Corporation for 20Y8:
Inventories January 1 December 31
Materials $ 44,250 $ 31,700
Work in process 63,900 80,000
Finished goods 101,200 99,800
Advertising expense $ 400,000
Depreciation expense—office equipment 30,000
Depreciation expense—factory equipment 80,000
Direct labor 1,100,000
Heat, light, and power—factory 53,300
Indirect labor 115,000
Materials purchased 556,600
Office salaries expense 318,000
Property taxes—factory 40,000
Property taxes—office building 25,000
Rent expense—factory 27,000
Sales 3,850,000
Sales salaries expense 200,000
Supplies—factory 9,500
Miscellaneous costs—factory 11,400
Instructions
1. Prepare the 20Y8 statement of cost of goods manufactured.
2. Prepare the 20Y8 income statement.
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