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Alphabet Inc. provided the following data for the year 2023: Direct Materials Used: $10,200,000 Direct Labor: $7,000,000 Manufacturing Overhead: $6,300,000 Sales: $70,000,000 Selling Expenses: $3,000,000
Alphabet Inc. provided the following data for the year 2023:
- Direct Materials Used: $10,200,000
- Direct Labor: $7,000,000
- Manufacturing Overhead: $6,300,000
- Sales: $70,000,000
- Selling Expenses: $3,000,000
- Administrative Expenses: $2,500,000
- Beginning Work in Process Inventory: $700,000
- Ending Work in Process Inventory: $800,000
- Beginning Finished Goods Inventory: $2,500,000
- Ending Finished Goods Inventory: $2,600,000
Requirements:
- Calculate the total manufacturing cost.
- Compute the cost of goods manufactured.
- Determine the cost of goods sold.
- Prepare an income statement for the year 2023.
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