Yolo Windows, a manufacturer of windows for commercial buildings, reports the following account information for last year (all costs are in thousands of dollars). Information on January 1 (Beginning): Direct materials inventory$86 Work-in-process inventory 115 Finished goods inventory 1,630 Information for the year: Administrative costs$3,660 Direct labor 13,000 Direct materials purchases 8,290 Factory and machine depreciation 11,530 Factory supervision 773 Factory utilities 946 Indirect factory labor 2,880 Indirect materials and supplies 687 Marketing costs 1,540 Property taxes on factory 291 Sales revenue 45,600 Information on December 31 (Ending): Direct materials inventory$95 Work-in-process inventory 144 Finished goods inventory 1,500 YOLO WINDOWSStatement of Cost of Goods SoldFor the Year Ended December 31($000)Direct materials usedManufacturing costs:Direct materials:Manufacturing overhead:Total manufacturing overheadTotal manufacturing costsTotal cost of work in process during the yearCosts of goods manufactured during the yearCost of goods sold YOLO WINDOWSIncome StatementFor the Year Ended December 31($000)Total marketing and administrative costs

An income statement shows the net profit earned or net loss incurred by the company. When the sales…

Answered: Yolo Windows, a manufacturer of windows…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Yolo Windows, a manufacturer of windows for commercial buildings, reports the following account information for last year (all costs are in thousands of dollars).


Information on January 1 (Beginning):
Direct materials inventory	$	86
Work-in-process inventory		115
Finished goods inventory		1,630
Information for the year:
Administrative costs	$	3,660
Direct labor		13,000
Direct materials purchases		8,290
Factory and machine depreciation		11,530
Factory supervision		773
Factory utilities		946
Indirect factory labor		2,880
Indirect materials and supplies		687
Marketing costs		1,540
Property taxes on factory		291
Sales revenue		45,600
Information on December 31 (Ending):
Direct materials inventory	$	95
Work-in-process inventory		144
Finished goods inventory		1,500

YOLO WINDOWS
Statement of Cost of Goods Sold
For the Year Ended December 31
($000)
Direct materials used
Manufacturing costs:
Direct materials:
Manufacturing overhead:
Total manufacturing overhead
Total manufacturing costs
Total cost of work in process during the year
Costs of goods manufactured during the year
Cost of goods sold

YOLO WINDOWS
Income Statement
For the Year Ended December 31
($000)
Total marketing and administrative costs

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