ACC 320 TEST 1 Question 1 The following information pertains to the Satyam Company for the year ending December 31, 2019. Hours Revenue Interest payable Purchases of direct materials Wages (factory Beginning direct material Indirect Materials Supplies expense (factory Supplies (factory Depreciation of factory machines Depreciation of factory Plant Depreciation of shop Unearned revenue Selling commission Marketing costs Wages Store Insurance expense (shop Prepaid insurance Expense (store) Supplies expense Istore) Utilities (storel Direct Labor Hours Hourly Rate for direct labour Direct materials inventory Dec 31 2019 Work in process Jan 1 2019 Sales Return/ allowances Rent revenue Work in process Dec 31 2019 Sales Discounts Finished Goods Inventory Jan 1 2019 Finished Goods Inventory Dec 31 2019 $ 40,000 2300 12,000 5500 2850 5,000 3,500 9540 3500 2300 2.000 5620 1200 4200 6.000 2300 1450 5,000 2,500 1800 14 7000 3,000 2100 5,000 5,000 3,000 3.000 2500 REQUIRED 1. Prepare a COGM statement for year end 2. Prepare an income statement assume interest tax rate to be 17%] for year end ACC 320 TEST 1 Question 1 The following information pertains to the Satyam Company for the year ending December 31, 2019. Hours Revenue Interest payable Purchases of direct materials Wages (factory Beginning direct material Indirect Materials Supplies expense (factory Supplies (factory Depreciation of factory machines Depreciation of factory Plant Depreciation of shop Unearned revenue Selling commission Marketing costs Wages Store Insurance expense (shop Prepaid insurance Expense (store) Supplies expense Istore) Utilities (storel Direct Labor Hours Hourly Rate for direct labour Direct materials inventory Dec 31 2019 Work in process Jan 1 2019 Sales Return/ allowances Rent revenue Work in process Dec 31 2019 Sales Discounts Finished Goods Inventory Jan 1 2019 Finished Goods Inventory Dec 31 2019 $ 40,000 2300 12,000 5500 2850 5,000 3,500 9540 3500 2300 2.000 5620 1200 4200 6.000 2300 1450 5,000 2,500 1800 14 7000 3,000 2100 5,000 5,000 3,000 3.000 2500 REQUIRED 1. Prepare a COGM statement for year end 2. Prepare an income statement assume interest tax rate to be 17%] for year end