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SuSu Manufacturing Company makes water heaters. Selected account balances on December 31, 20X1, the end of its fiscal year, are given below. Data about the beginning and ending inventories are also given. Accounts Sales Sales Returns and Allowances Materials Purchases Direct Labor Indirect Labor Payroll Taxes-Factory Utilities-Factory Repairs and Maintenance-Factory Indirect Materials and Supplies Depreciation-Factory Building Depreciation-Factory Equipment Insurance-Factory Property Taxes-Factory Sales Salaries Expense Payroll Taxes Expense-Selling Delivery Expense Advertising Expense Miscellaneous Selling Expenses officers' Salaries Expense Office Salaries Expense Payroll Taxes Expense-Administrative Other Administrative Expenses Income Tax Expense Balances $1,106,500 6,500 215,000 250,000 40,000 29,000 20,500 5,000 5,000 6,000 5,000 20,000 9,000 150,000 15,000 9,000 10,000 26,000 180,000 50,000 23,000 4,000 4,095

SuSu Manufacturing Company makes water heaters. Selected account balances on December 31, 20X1, the end of its fiscal year, are given below. Data about the beginning and ending inventories are also given. Accounts Sales Sales Returns and Allowances Materials Purchases Direct Labor Indirect Labor Payroll Taxes-Factory Utilities-Factory Repairs and Maintenance-Factory Indirect Materials and Supplies Depreciation-Factory Building Depreciation-Factory Equipment Insurance-Factory Property Taxes-Factory Sales Salaries Expense Payroll Taxes Expense-Selling Delivery Expense Advertising Expense Miscellaneous Selling Expenses officers' Salaries Expense Office Salaries Expense Payroll Taxes Expense-Administrative Other Administrative Expenses Income Tax Expense Balances $1,106,500 6,500 215,000 250,000 40,000 29,000 20,500 5,000 5,000 6,000 5,000 20,000 9,000 150,000 15,000 9,000 10,000 26,000 180,000 50,000 23,000 4,000 4,095

FINANCIAL ACCOUNTING
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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Inventory Data Finished Goods Inventory Work in Process Inventory Raw Materials Inventory Jan. 1, 20X1 $ 32,000 45,000 23,000 Required: 1. Prepare a statement of cost of goods manufactured for 20X1. 2. Prepare an income statement for 20X1. Dec. 31, 20X1 $ 30,000 40,000 21,000 Analyze: For every dollar earned in net sales, what portion was spent on manufacturing costs? Stmt of COGM Income Stmt Complete this question by entering your answers in the tabs below. Analyze Prepare a statement of cost of goods manufactured for 20X1. SUSU MANUFACTURING COMPANY Statement of Cost of Goods Manufactured Year Ended December 31, 20X1
Transcribed Image Text:Inventory Data Finished Goods Inventory Work in Process Inventory Raw Materials Inventory Jan. 1, 20X1 $ 32,000 45,000 23,000 Required: 1. Prepare a statement of cost of goods manufactured for 20X1. 2. Prepare an income statement for 20X1. Dec. 31, 20X1 $ 30,000 40,000 21,000 Analyze: For every dollar earned in net sales, what portion was spent on manufacturing costs? Stmt of COGM Income Stmt Complete this question by entering your answers in the tabs below. Analyze Prepare a statement of cost of goods manufactured for 20X1. SUSU MANUFACTURING COMPANY Statement of Cost of Goods Manufactured Year Ended December 31, 20X1
SuSu Manufacturing Company makes water heaters. Selected account balances on December 31, 20X1, the end of its fiscal year, are given below. Data about the beginning and ending inventories are also given. Accounts Sales Sales Returns and Allowances Materials Purchases Direct Labor Indirect Labor Payroll Taxes-Factory Utilities-Factory Repairs and Maintenance-Factory Indirect Materials and Supplies Depreciation-Factory Building Depreciation-Factory Equipment Insurance-Factory Property Taxes-Factory Sales Salaries Expense Payroll Taxes Expense-Selling Delivery Expense Advertising Expense Miscellaneous Selling Expenses officers' Salaries Expense Office Salaries Expense Payroll Taxes Expense-Administrative Other Administrative Expenses Income Tax Expense Balances $1,106,500 6,500 215,000 250,000 40,000 29,000 20,500 5,000 5,000 6,000 5,000 20,000 9,000 150,000 15,000 9,000 10,000 26,000 180,000 50,000 23,000 4,000 4,095 Check
Transcribed Image Text:SuSu Manufacturing Company makes water heaters. Selected account balances on December 31, 20X1, the end of its fiscal year, are given below. Data about the beginning and ending inventories are also given. Accounts Sales Sales Returns and Allowances Materials Purchases Direct Labor Indirect Labor Payroll Taxes-Factory Utilities-Factory Repairs and Maintenance-Factory Indirect Materials and Supplies Depreciation-Factory Building Depreciation-Factory Equipment Insurance-Factory Property Taxes-Factory Sales Salaries Expense Payroll Taxes Expense-Selling Delivery Expense Advertising Expense Miscellaneous Selling Expenses officers' Salaries Expense Office Salaries Expense Payroll Taxes Expense-Administrative Other Administrative Expenses Income Tax Expense Balances $1,106,500 6,500 215,000 250,000 40,000 29,000 20,500 5,000 5,000 6,000 5,000 20,000 9,000 150,000 15,000 9,000 10,000 26,000 180,000 50,000 23,000 4,000 4,095 Check
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