10:06 1 Ch. 15 Activity 2.doc Accounting 2120 Chapter 15 Managerial Accounting Activity 2 Amount Cost Amount Depreciation - 4.000 Factory Lilities 3,1000 Factory Equipment 1.100 Indirect Labor 15.550 Factory Maintenance Production Supervisor's Salary Sales Camisas 48,990 Direct Labor Was 50,000 120.000 President's Salary Direct Material 14,0xio Purchases 98 cod Depreciation Office Equipment 1,500 Factory Insurance 2.000 Office Utilities 3,300 Accounts Receivable 12,Scolash 62.3011 Office Salaries 15,650 Factory Rent 17.775 11. Classifying Costs, Calculating Cost of Goods Manufactured, and Preparing an Income Statement. Madison Company has the following information available: Other information includes: Inventory Heginning Endling Raw Materials 36,800 62.750 Work In Process 52,5116,2101 Finished Cod 70.250 89,680 Instructions: a. Prepare a Cost of Goods Manufactured Schedule b. Prepare an Income Statement (Net Sales = $420,000) c. Prepare a current assets section of the balance sheet