Question
Anthony Co. manufactures office furniture at its plant in Ontario.In August, the plant accountant collected the following data concerning operations during the month of July:
Anthony Co. manufactures office furniture at its plant in Ontario.In August, the plant accountant collected the following data concerning operations during the month of July:
Purchases of raw materials$48,000
Direct labour75,000
Manufacturing overhead110,200
Sales revenue455,000
Various Selling and Administrative expenses:
Depreciation25,000
Salaries and wages67,000
Utilities3,000
Advertising6,000
Sales commissions12,000
InventoryBeginningEnding
Raw materials$12,000$21,000
Work in process48,00067,000
Finished goods30,00036,000
In an Income Statement, the Selling and Administration expenses would be
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