The following data appeared in Ticonderoga Tile Companys records on December 31 of last year: Leake re

Question:

The following data appeared in Ticonderoga Tile Company’s records on December 31 of last year:
Leake re SaleSievVemUee kis. a gue ake Pee alae oO ee ee eee $812, 500 (L O 1, 2, 3) D i r e c t m a t e r i a l u s e d d y e d c h r i s t e n B o r b e e e n d e c o b e a r e e n s y a s a x e A O R A e e e e e 191, 050 W o r k - i n - p r o c e s s i n v e n t o r y, D e c e m b e r 31 . . . . . . . . . . .0 . c . e 0 s e . e n . e e e 12, 300 e X c e l R a w - i n a t e r i a l l i m v e n t O n y n b C C e n i O c f a S i l k a i g a 4 s i e n n a t n a c y h e l a a e e e n e a e n n e e n 42, 500 m h h e . c o m / h i l t o n 4 e R a w - m a t e r i a l p u r c h a s e d d u r i n g^{'} t h e y e a r . . . . < . . .0 .0 . . . . . .0 . g l o) . . . 180, 000 R i n i s h e G - G O o d S i n V e n t o n y W e C e m D e t e e d e r r - s r e e e t e . h e a t a e e i t 45, 000 N e l l e l o l e l p e r e a r e a e R e i n e C e e s M e e n e M e n e m | S e d e e n A n n y A S o e - 16, 000 D I I g e r o u l l c l o C l n e e s e n t e n c e t i a o r A r n e E n o a t h n e n t, e q u a o h c e e t r a e b o p o e d e m e 195, 000 P l a n t i n e a t s l i G h t a m G l D O W C T r n c k a s s a e t e i c e g i s a n i a e n n a n n e w e e r O e 22, 600 B u i l d i n g d e p r e c i a t i o n (7 / 9 i s f o r m a n u f a c t u r i n g) . . . . . . . . . . . . . . . . . . . . . . 40, 500 A C I M I M I S H A I V E : S A I A T I O S s a m e : C h o m c e t i, s e l S e r e C e n a . h e e h e e n e e d e e e r a n e 24, 900 M i I S c e l l a n e O u U S i f a c t o n y i C O S t s n m e m c r c e s e e r e o n e r e a a c e e a 16, 950 S E I T M O N C O S E S « t e r s a e t e e, e t a g e t s a u t : t e t a s R o n d e g h e o r d e r R e e a C E t e e n e r 19, 300 M a i n t e n a n c e e o n i r a c t o n y m a c h i N e S c s m m e e n t e t e r r e e r i n : t e e m a r n t e a r 6, 050 I N S U F A T I C S O M M A C T O Y C C U I O N M E I t s w a t e s e r e e n a e e a a t a c r e o o t e t n n e e e 9, 500 P I S T H M O U T O M C O S T S s . r s n c t e t a c e t c l e a n . a s a d a c e e e O e e e 800 T a x e s r O n i M m a n u U t a c t u n i n G | O r O W S I V c n s r i e e a e a a n e N t n t e n a r e e e n e e e o e r 6, 550 L E C S E S C M C U S I C I M A O O M O E M s o a n a s a v e e r d s a e c c s e p c a n n s o o q s u u e : 4, 100 O n J a n u a r y 1, a t t h e b e g i n n i n g o f l a s t y e a r, t h e F i n i s h e d - G o o d s I n v e n t o r y a c c o u n t h a d a b a l a n c e o f$ 40,000, and the Work-in-Process Inventory account had a balance of $12,950.
Required

a. Prepare a schedule of-cost of goods sold and an income statement.

b. BUILD YOUR OWNS PREADSHEET. Build an Excel spreadsheet to complete requirement (a).

•• Each of the following columns is independent and for a different company. Use the data given, which Unknown Account refer to one year for each example, to find the unknown account balances.
Balances (LO 1, 2,3) Company Account ! 2 3 Finished-goods inventory, January 1.................... $ 1,900

(d) $17, 200 F i n i s h e d - g o o d s i n v e n t o r y, D e c e m b e r 31.................. 300$ 4,400 28,400 Work-in-process inventory, January 1 .................... 2,700 6,720 82,400 Work-in-process inventory, December 31 ................. 3,800 3,100 76,730 ake NMEIaMetveriitell IN MEINWOINY, JEINUETAY |. cc one enc onancueacsae

(a) 3,500 16,000 Raw-material inventory, December 31..:................. 3,600 2,900 14,100 UIC MESES) EMMIMEWEUTIENS Fico 556s ann nimes an en adanonee 16,100 12,000 64,200 Cost of goods manufactured during the year...............

(b) 27,220 313,770 MOVE N nMN IUNEXCWUTAMCCOSIS, os bees gh see ucndnadeenannacase 55,550 23,600 308, 100 COStOl.Goods Sold man tener aoe eee ee 56,050 27,200 302,570 (GOSS IMARGIA Gt «ca, exregtotatc ata ev aaa cee ae

(c) 16,400 641,280 DirectimatenalMUSec evans saris Creel ean tn ae area 15,300

(e) 66, 100 DIRSCH AION: wilecas8’. coc ree tags GRR eee en ee 26,450 3,800 124,700 Manttactunmoroverneachiy nia aaen tee tet eas 13,800 7,200 (g)
SAIS TEVENUG as Fidin 8 a-attone nant ene a On Ae 103,300

(f) 943,850

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