I need the answer as soon as possible The following costs and inventory data were taken from the accounts of Kobe Inc. for 2019:January 1, 2019December 31, 2019Inventories:$ 8,00015,00016,000$ 7,00013,00012,000Raw materialsWork in processFinished goodsCosts incurred:Raw materials purchasesDirect labor$98,00042,0008,00010,0006,0009,00017,000300,000Factory rentFactory utilitiesIndirect materialsIndirect laborOperating expensesSalesInstructionsa. Prepare a schedule of Cost of Goods Manufactured for Simon Company for the yearended December 31, 2019.b. Prepare the Inventory portion of the balance sheet as of December 31, 2019.c. Prepare a partial income statement (stopping at gross margin) for the year endedDecember 31, 2019.

The question is based on the concept of Cost Accounting.

The following costs and inventory data were taken from the accounts of Kobe Inc. for 2019: January 1, 2019 December 31, 2019 Inventories: $ 8,000 15,000 16,000 $ 7,000 13,000 12,000 Raw materials Work in process Finished goods Costs incurred: Raw materials purchases Direct labor Factory rent $98,000 42,000 8,000 Factory utilities 10.000

The following costs and inventory data were taken from the accounts of Kobe Inc. for 2019: January 1, 2019 December 31, 2019 Inventories: $ 8,000 15,000 16,000 $ 7,000 13,000 12,000 Raw materials Work in process Finished goods Costs incurred: Raw materials purchases Direct labor Factory rent $98,000 42,000 8,000 Factory utilities 10.000

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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