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can someone please help me The accounting department at Mansbridge Inc. prepared the following income statement for the QUARTER ending December 31, 2019. Sales Purchases
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The accounting department at Mansbridge Inc. prepared the following income statement for the QUARTER ending December 31, 2019. Sales Purchases of materials (1) Payroll (2) Advertising Administrative travel Manufacturing utilities Facility rental (3) Depreciation (4) Sales commissions ANNUAL Insurance for Manufacturing Facility office utilities Management salaries (5) Net income $1,444,600 253,340 269,300 38, 400 29,000 52,200 B8,000 66,300 55,000 54,000 23,800 402,000 $ 113,260 Notes: (1) 90% of the materials were direct (2) 70% direct labour, 30% indirect labour (3) 90% related to manufacturing (4) 75% related to manufacturing (5) 40% related to manufacturing The department also compiled the following information with respect to inventories for the quarter (note that the company does not maintain inventories of indirect materials). Beginning Ending Direct materials $ 7,570 $ 8,980 Work in process Finished goods 8,770 11,980 10,240 7, B40 Required: 1. Prepare a cost of goods manufactured statement for the quarter. annar Direct materials Work in process Finished goods begann $ 7,570 8,770 11,980 $ 8,980 10, 240 7, B40 Required: 1. Prepare a cost of goods manufactured statement for the quarter. MANSBRIDGE INC Cost of Goods Manufactured Statement For the Quarter Ending December 31, 2019 Direct materials: Direct materials available for use Direct materials used Overhead Total manufacturing costs Total work-in-process Cost of goods manufacturedStep by Step Solution
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