Question
Carter Ltd. reports the following for year end December 31, 2019.Prepare a statement of comprehensive income and a cost of goods manufactured schedule: Work in
Carter Ltd. reports the following for year end December 31, 2019.Prepare a statement of comprehensive income and a cost of goods manufactured schedule:
Work in process, January 1, 2019
$12,000
Work in process, December 31, 2019
$310,000
Revenues
$115,000
Purchase of direct materials
$13,500
Plant utilities
$26,000
Plant supplies used
$12,000
Plant supervisory salaries
$65,000
Miscellaneous plant overhead
$37,000
Marketing, distribution, and customer-service costs
$40,000
Indirect manufacturing labour
$27,000
Finished goods, January 1, 2019
$15,000
Finished goods, December 31, 2019
$11,000
Direct materials, January 1, 2019
$20,000
Direct materials, December 31, 2019
$9,000
Direct Manufacturing labour
$65,000
Depreciation-plant, building and equipment
$90,000
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