The Wooden Chair Group has the following sales and cost data for the year ending 2022: Inventories: Raw Materials Work in Progress Finished Goods Materials Purchased - Lumber Materials Purchased - Screws and Glue Wages-Carpenters Wages - Supervisor Wages - Custodian Depreciation - Power Saws Factory Utilities Insurance on Factory Factory Real Estate Taxes Beginning 6,000 1,000 4,000 Sales Commissions Salespersons Cell Phones Sales - Delivery CEO Salary Depreciation - Administrative Equipment Copy Paper Administrative Assistant Ending 7,000 3,000 8,000 24,000 2,000 36,000 9,000 5,000 15,000 1,200 2,400 3,600 22,000 8,600 4,200 38,000 7,500 2,500 6,200 320,000 Revenue Prepare an Income Statement including Cost of Goods Manufactured.
The Wooden Chair Group has the following sales and cost data for the year ending 2022: Inventories: Raw Materials Work in Progress Finished Goods Materials Purchased - Lumber Materials Purchased - Screws and Glue Wages-Carpenters Wages - Supervisor Wages - Custodian Depreciation - Power Saws Factory Utilities Insurance on Factory Factory Real Estate Taxes Beginning 6,000 1,000 4,000 Sales Commissions Salespersons Cell Phones Sales - Delivery CEO Salary Depreciation - Administrative Equipment Copy Paper Administrative Assistant Ending 7,000 3,000 8,000 24,000 2,000 36,000 9,000 5,000 15,000 1,200 2,400 3,600 22,000 8,600 4,200 38,000 7,500 2,500 6,200 320,000 Revenue Prepare an Income Statement including Cost of Goods Manufactured.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The Wooden Chair Group has the following sales and cost data for the
year ending 2022:
Inventories:
Raw Materials
Work in Progress
Finished Goods
Materials Purchased - Lumber
Materials Purchased - Screws and Glue
Wages - Carpenters
Wages - Supervisor
Wages - Custodian
Depreciation - Power Saws
Factory Utilities
Insurance on Factory
Factory Real Estate Taxes
Sales Commissions
Salespersons Cell Phones
Sales - Delivery
Beginning
6,000
1,000
4,000
CEO Salary
Depreciation - Administrative Equipment
Copy Paper
Administrative Assistant
Ending
7,000
3,000
8,000
24,000
2,000
36,000
9,000
5,000
15,000
1,200
2,400
3,600
22,000
8,600
4,200
38,000
7,500
2,500
6,200
320,000
Revenue
Prepare an Income Statement including Cost of Goods Manufactured.
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