The following data relates to the Washington Co.:

Direct Materials Inventory, Beginning

$300

Direct Materials Inventory, Ending

$250

Direct Materials Purchases

$2,100

Direct Labor

$1,300

Manufacturing Overhead

$1,100

Work-in-Process Inventory, Beginning

$850

Work-in-Process Inventory, Ending

$900

Finished Goods Inventory, Beginning

$1,250

Finished Goods Inventory, Ending

$1,300

Sales Revenue

$10,500

Selling and Administrative Expenses

$1,800

Income Tax Rate

20%

Required:

a. Prepare a Statement of Cost of Goods Manufactured.

b. Prepare an Income Statement

Answer rating: 100% (QA)

Washington Co Financial Statements a Statement of Cost of Goods Manufactured Description Amount Dire... View the full answer