The Wooden Chair Group has the following sales and cost data for the year ending 2019: Raw Materials Inventory, beginning Raw Materials Inventory, ending 5,000 6,000 Work in Process Inventory, beginning Work in Process Inventory, ending 11,000 10,000 Finished Goods Inventory, beginning Finished Goods Inventory, ending 5,000 8,000 Selling and administrative expenses Materials Purchased - Lumber Materials Purchased Screws and Glue 19,000 13,000 3,000 Wages - Direct Assembly Workers Wages - Factory Supervisor Wages - Factory Janitor 25,000 3,000 2,000 Sales 220,000 Factory Depreciation 25,000 Factory Utilities Maintenance of Factory 2,000 4,000 Insurance for Factory 1,000 Using the next two pages prepare: 1. A cost of goods manufactured statement 2. An income Statement Sheet2 Sheet3 Sheet1 +. dy

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The Wooden Chair Group has the following sales and cost data for the year ending 2019:
Raw Materials Inventory, beginning
Raw Materials Inventory, ending
5,000
6,000
Work in Process Inventory, beginning
Work in Process Inventory, ending
11,000
10,000
Finished Goods Inventory, beginning
Finished Goods Inventory, ending
5,000
8,000
Selling and administrative expenses
Materials Purchased - Lumber
Materials Purchased Screws and Glue
19,000
13,000
3,000
Wages - Direct Assembly Workers
Wages - Factory Supervisor
Wages - Factory Janitor
25,000
3,000
2,000
Sales
220,000
Factory Depreciation
25,000
Factory Utilities
Maintenance of Factory
2,000
4,000
Insurance for Factory
1,000
Using the next two pages prepare:
1. A cost of goods manufactured statement
2. An income Statement
Sheet2
Sheet3
Sheet1
+.
dy
Transcribed Image Text:The Wooden Chair Group has the following sales and cost data for the year ending 2019: Raw Materials Inventory, beginning Raw Materials Inventory, ending 5,000 6,000 Work in Process Inventory, beginning Work in Process Inventory, ending 11,000 10,000 Finished Goods Inventory, beginning Finished Goods Inventory, ending 5,000 8,000 Selling and administrative expenses Materials Purchased - Lumber Materials Purchased Screws and Glue 19,000 13,000 3,000 Wages - Direct Assembly Workers Wages - Factory Supervisor Wages - Factory Janitor 25,000 3,000 2,000 Sales 220,000 Factory Depreciation 25,000 Factory Utilities Maintenance of Factory 2,000 4,000 Insurance for Factory 1,000 Using the next two pages prepare: 1. A cost of goods manufactured statement 2. An income Statement Sheet2 Sheet3 Sheet1 +. dy
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