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Advertising expense .. $ 85,000 Work In process Inventory, Dec. 31, 2018 8,000 Work In process Inventory, Dec. 31, 2019 Income taxes. Amortization expense-Factory patents 16,000 9,000 Bad debts expense 28,000 53,400 Depreclation expense-Office equipment 37,000 Indirect labor 26,000 Depreclation expense-Factory bullding 133,000 Interest expense 25,000 Depreclation expense-Factory equlpment 78,000 Miscellaneous expense 55,000 Direct labor .. 250,000 Property taxes on factory equipment 14,000 ..... Factory Insurance used up 62,000 Raw materlals Inventory, Dec. 31, 2018. 60,000 Raw materlals Inventory, Dec. 31, 2019 . Factory supervisor salary . Factory supples used (Indirect materlals). Factory utilitles. 74,000 78,000 21,000 Raw materlals purchases (direct materlals). 313,000 115,000 Repalrs expense-Factory equlpment. 31,000 Finished goods Inventory, Dec. 31, 2018 15,000 Salarles expense 150,000 Finished goods Inventory, Dec. 31, 2019 12,500 Sales 1,630,000

Advertising expense .. $ 85,000 Work In process Inventory, Dec. 31, 2018 8,000 Work In process Inventory, Dec. 31, 2019 Income taxes. Amortization expense-Factory patents 16,000 9,000 Bad debts expense 28,000 53,400 Depreclation expense-Office equipment 37,000 Indirect labor 26,000 Depreclation expense-Factory bullding 133,000 Interest expense 25,000 Depreclation expense-Factory equlpment 78,000 Miscellaneous expense 55,000 Direct labor .. 250,000 Property taxes on factory equipment 14,000 ..... Factory Insurance used up 62,000 Raw materlals Inventory, Dec. 31, 2018. 60,000 Raw materlals Inventory, Dec. 31, 2019 . Factory supervisor salary . Factory supples used (Indirect materlals). Factory utilitles. 74,000 78,000 21,000 Raw materlals purchases (direct materlals). 313,000 115,000 Repalrs expense-Factory equlpment. 31,000 Finished goods Inventory, Dec. 31, 2018 15,000 Salarles expense 150,000 Finished goods Inventory, Dec. 31, 2019 12,500 Sales 1,630,000

FINANCIAL ACCOUNTING
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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The following account balances and other information are from SUNN Corporation’s accounting records for year-end December 31, 2019. Use this information to prepare (1) a table listing factory overhead costs, (2) a schedule of cost of goods manufactured (show only the total factory overhead cost), and (3) an income statement.

Advertising expense .. $ 85,000 Work In process Inventory, Dec. 31, 2018 8,000 Work In process Inventory, Dec. 31, 2019 Income taxes. Amortization expense-Factory patents 16,000 9,000 Bad debts expense 28,000 53,400 Depreclation expense-Office equipment 37,000 Indirect labor 26,000 Depreclation expense-Factory bullding 133,000 Interest expense 25,000 Depreclation expense-Factory equlpment 78,000 Miscellaneous expense 55,000 Direct labor .. 250,000 Property taxes on factory equipment 14,000 ..... Factory Insurance used up 62,000 Raw materlals Inventory, Dec. 31, 2018. 60,000 Raw materlals Inventory, Dec. 31, 2019 . Factory supervisor salary . Factory supples used (Indirect materlals). Factory utilitles. 74,000 78,000 21,000 Raw materlals purchases (direct materlals). 313,000 115,000 Repalrs expense-Factory equlpment. 31,000 Finished goods Inventory, Dec. 31, 2018 15,000 Salarles expense 150,000 Finished goods Inventory, Dec. 31, 2019 12,500 Sales 1,630,000
Transcribed Image Text:Advertising expense .. $ 85,000 Work In process Inventory, Dec. 31, 2018 8,000 Work In process Inventory, Dec. 31, 2019 Income taxes. Amortization expense-Factory patents 16,000 9,000 Bad debts expense 28,000 53,400 Depreclation expense-Office equipment 37,000 Indirect labor 26,000 Depreclation expense-Factory bullding 133,000 Interest expense 25,000 Depreclation expense-Factory equlpment 78,000 Miscellaneous expense 55,000 Direct labor .. 250,000 Property taxes on factory equipment 14,000 ..... Factory Insurance used up 62,000 Raw materlals Inventory, Dec. 31, 2018. 60,000 Raw materlals Inventory, Dec. 31, 2019 . Factory supervisor salary . Factory supples used (Indirect materlals). Factory utilitles. 74,000 78,000 21,000 Raw materlals purchases (direct materlals). 313,000 115,000 Repalrs expense-Factory equlpment. 31,000 Finished goods Inventory, Dec. 31, 2018 15,000 Salarles expense 150,000 Finished goods Inventory, Dec. 31, 2019 12,500 Sales 1,630,000
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