Question
Beginning of End of Shaler Corporation 2014 2014 Direct materials inventory $130,000 $68,000 Work-in-process inventory 166,000 144,000 Finished goods inventory 246,000 204,000 Purchases of direct
Beginning of | End of | |
Shaler Corporation | 2014 | 2014 |
Direct materials inventory | $130,000 | $68,000 |
Work-in-process inventory | 166,000 | 144,000 |
Finished goods inventory | 246,000 | 204,000 |
Purchases of direct materials |
| 256,000 |
Direct manufacturing labor | 212,000 | |
Indirect manufacturing labor | 96,000 | |
Indirect materials | 28,000 | |
Plant insurance | 4,000 | |
Depreciationplant, building, and equipment | 42,000 | |
Plant utilities | 24,000 | |
Repairs and maintenanceplant | 16,000 | |
Equipment leasing costs | 64,000 | |
Marketing, distribution, and customer-service costs | 124,000 | |
General and administrative costs | 68,000 |
Requirements
1. Prepare a schedule for the cost of goods manufactured for 2014
2. Revenues (in thousands) for 2014 werre 1,200,000. Prepare the income statement for 2014.
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