Consider the following account balances (in thousands) for the Canseco Company: Required 1. Prepare a schedule of

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Consider the following account balances (in thousands) for the Canseco Company:

Beginning of 2019 End of 2019 Direct materials inventory $22.000 $26.000 Wnrk-in-process inventary 21.000 20.000 Finished goods inventory 18,000 23,000 Purchases of direct materials 75,000 Boginning of 2019 End of 2019 Direct ma nufacturing la bour 25,000 Indirect manufacturing labour 15,000 Plant insurance 9,000 Depreciation-plant building and equipment 11,000 Repairs


Required

1. Prepare a schedule of cost of goods manufactured for 2019.

2. Revenues in 2019 were $300 million. Prepare the 2019 statement of comprehensive income.

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Horngrens Cost Accounting A Managerial Emphasis

ISBN: 978-0134453736

8th Canadian Edition

Authors: Srikant M. Datar, Madhav V. Rajan, Louis Beaubien

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