ACC 117 Test Chaps 16-18 Managerial Accounting 1 YNP Corportion lists the following costs and expenses for the current year as of December 31. $800,000 $85,000 $20,000 $24,000 $18,000 $4,000 $70,000 $11,000 $60,000 $250,000 $25,000 $90,000 $5,000 $35,000 $10,000 $50,000 Sales Raw Materials Purchased Beginning Raw Materials Ending Raw Materials Depreciation (80% to Factory) (75% to Factory) (100% to Factory) (85% to Factory) Direct Labor Maintenance Administrative Expenses Selling Expenses Utilities Indirect Labor Beginning WIP Inventory Ending WIP Inventory Beginning Fininshed Goods Inventory Ending Fininshed Goods Inventory Required: Prepare a Schedule of Cost of Goods Manufactured and an Income Statement for YNP Corporation as of December 31, 2018 2 List whether the following fall primarily under managerial or financial accounting a) proposed manufacturing budget sent to the CFO for approval b) an external auditor's report on a company's annual report c) The preparation of financial statements for investors and stockholders d) Not regulated by the SEC e) Information provided to managers for decision making f) Reporting required by GAAP g) A company wishes to conduct study on whether to increase manufacturing capacity h) Performance reports supplied to internal users i) Depreciation Method Chosen by Company I) Taxes paid by the company