Consider the following information for Fair Wind Yachts Inc., a manufacturer of sailboat rigging, blocks, and cordage. Advertising expenses Depreciation expense-administrative office Depreciation expense-plant and equipment Depreciation expense-delivery trucks Materials inventory, beginning Materials inventory, ending Direct materials purchases Direct labor Indirect labor Finished goods inventory, beginning Finished goods inventory, ending Insurance on plant Heat and light for plant Repairs on plant building Supervisor's salary-plant Supplies-plant Supplies-administrative office Work-in-process inventory, beginning Work-in-process inventory, ending Sales representatives salaries Sales revenue $ 154,000 76,600 324,000 47,800 20,000 24,000 430,000 528,000 277,000 55,800 44,600 34,400 23,600 38,000 99,200 132,800 79, 280 33,000 40,600 327,000 2,968,000 Required: Prepare a statement of cost of goods manufoctured and an income statement for Fair Wind Yachts for the year ended December 31 Complete this question by entering your answers in the tabs below. 2 Fair Wind Yachts atent of Cost of Goods Manufactured For the Year Ended December 31 Direct materials 37:15 Materials available Direct materials used Factory overhead Beginning materials inventory Depreciation expense-plant and equipment Direct labor Heat and light for plant Total manufacturing costs to account for rm 1 - Question 4 (Available 11:44AM-12:27PM) 3... A Saved Vidiciais dvallaug Direct materials used Factory overhead 36:54 Total factory overhead Total manufacturing costs to account for + Total manufacturing costs Cost of goods manufactured Sunt of COGM Income Statement > 4 Avandole 11:44AM-12:27PM) 3... Swed Stmt of COGM Income Statement 2 Prepare an income statement for Fair Wind Yachts for the year ended December 31. Fair Wind Yachts Income Statement For the Year Ended December 31 00:36:42 Cost of goods sold Total goods available for sale Cost of goods sold + Total selling & administrative expenses com%2521/activity/questio s://connect U Dashboard M McGraw-Hill Conne. muestion 4 (Available 11:41AM-12:27PM) 3.. Saved Consider the following information for Fair Wind Yachts Inc., a manufacturer of sailboat rigging, blocks, and cordage. Advertising expenses Depreciation expense-administrative office Depreciation expense-plant and equipment Depreciation expense-delivery trucks Materials inventory, beginning Materials inventory, ending Direct materials purchases Direct labor Indirect labor Finished goods inventory, beginning Finished goods inventory, ending Insurance on plant Heat and light for plant Repairs on plant building Supervisor's salary-plant Supplies-plant Supplies--administrative office Work-in-process inventory, beginning Work-in-process inventory, ending Sales representatives' salaries Sales revenue $ 154,000 76,600 324,000 47,800 20,000 24,000 430,000 528,000 277,000 55,800 44,600 34,400 23,600 38,000 99,200 0132,800 79,200 33,000 40,600 327,000 2,968,000 Required: Prepare a statement of cost of goods manufactured and an income statement for Fair Wind Yachts for the year ended December 3 Complete this question by entering your answers in the tabs below. Prev 2 of 3 !!! Next > m 1 - Question 4 (Available 11:44AM-12:27PM) 3 Saved Stmnt of COGM Irne Statement Prepare a statement of cost of goods manufactured for Fair Wind Yachts for the year ended December 31. 15:32 Fair Wind Yachts Statement of Cost of Goods Manufactured For the Year Ended December 31 Direct materials Beginning materials inventory Materials purchases Materials available Direct materials used Direct labor Factory overhead Indirect labor Repairs on plant building w Luule 11.44AM-12:27PM) 3... Saved 2 Beginning materials inventory Materials purchases Materials available 00:15:16 Direct materials used Direct labor Factory overhead Indirect labor Repairs on plant building Total factory overhead Total manufacturing costs to account for Total manufacturing costs Cost of goods manufactured Stmt of COGM Income Statement 2 Prepare an income statement for Fair Wind Yachts for the year ended December 31. Fair Wind Yachts Income Statement For the Year Ended December 31 8 00:15:04 Cost of goods sold Total goods available for sale Cost of goods sold Total selling & administrative expenses
