The Cookie Inc. has the following information for the month of March. Prepare a (a)schedule of cost of goods manufactured, (b) an income statement for the month ended March 31, and (c)prepare only the inventory of the balance sheet. Purchases $85,000 Materials inventory, March 1 6,000 Materials inventory, March 31 7,000 Direct labor 25,000 Factory overhead 34,000 Work in process, March 1 17,000 Work in process, March 31 18,500 Finished goods inventory, March 1 21,000 Finished goods inventory, March 31 23,000 Sales 235,000 Sales and administrative expenses 78,000
The Cookie Inc. has the following information for the month of March. Prepare a (a)schedule of cost of goods manufactured, (b) an income statement for the month ended March 31, and (c)prepare only the inventory of the balance sheet. Purchases $85,000 Materials inventory, March 1 6,000 Materials inventory, March 31 7,000 Direct labor 25,000 Factory overhead 34,000 Work in process, March 1 17,000 Work in process, March 31 18,500 Finished goods inventory, March 1 21,000 Finished goods inventory, March 31 23,000 Sales 235,000 Sales and administrative expenses 78,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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17. The Cookie Inc. has the following information for the month of March. Prepare a (a)schedule of cost of goods manufactured, (b) an income statement for the month ended March 31, and (c)prepare only the inventory of the
Purchases $85,000
Materials inventory, March 1 6,000
Materials inventory, March 31 7,000
Direct labor 25,000
Factory
Work in process, March 1 17,000
Work in process, March 31 18,500
Finished goods inventory, March 1 21,000
Finished goods inventory, March 31 23,000
Sales 235,000
Sales and administrative expenses 78,000
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