* Distinguish between Financial an X + LignmentMain.do?invoker=&takeAssignmentSessionlocator Binprogress=false a Income Statements Sample Company Income Statement For the Year Ended December 21, 2018 $42.000.00 $5,250,00 2 Cost of goods sold: Beginning finished goods inventory - Plus cost of good manufactured Tost of Finished goods available for sale Less ending finished goods inventory 6,400.00 $11,65000 400.00 7 Cost of good sold 11.250.00 Gloss profit $50,750.00 Operating expenses: 30 Seding expenses 11 Administrative expenses $6,400.00 5.250.00 1) Total operating expenses 11.650.00 1 Net income $19,100.00 All work saved Bain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Statements Sample Company Income Statement For the Year Ended December 31, 2048 $42,000.00 Sales Cost of goods sold: $5.250.00 Beginning merchandise inventory - Plus net purchases 6,400.00 Merchandise available for sale $11.650.00 Less ending merchandise inventory 7. Cost of merchandise sold 11.250,00 $30,750.00 $6,400.00 8 Gross profit Operating expenses 10 Selling expenses 11 Administrative expenses 12 Total operating expenses Net income 5.250.00 11.650.00 $19.100.00 Able Baker Charlie Company Managerial vs Financial Cost Classification Financial Statements Balance Sheets 38,100.00 13 Total stockholders'equity * Total liabilities and stockholders' equity $55,900.00 Balance Sheet D: Sample Company D Balance Sheet December 31, 2018 Assets Cash $20,800.00 3 Accounts receivable (net) 10,000.00 4 Inventories: 5 Finished goods $2,000.00 Online teach * Distinguh between F + rument/takeAssignment Main.do?invokertakeAssignmentSessionLocatori progress-balse Costs and Balances At the end of February after the second month of operations Able Baker Charte com Chahis shows you the data es ted but he was one to get some of the amount Review the following date and in the missing amounts on the chart for Able de Chave Conany More may be to T w o mape flow of the amounts through the manufacturing accounts and solve for the missing data a s it may also be up to review the steps for coming the cost of a ls used to manufacturing cost incurred and cost of goods maracured Data for February Decrease in manat very Materials wwertory on Feb. 28 - Direct materials purchased Direct maten used Total manufacturing costs incurred in period Total manufacturing costs incurred in period Total manufacturing costs incurred in period $2.700 50% of malenges inventory on Jan 31 $12.000 3 times the direct labor curred $28.000 70% of Cost of Goods Manufactured 8.000 less than Cost of Goods Sold Account Balances Costs incurred Jan. 31 S S Account Materials inventory Work in Process ory Enished Goods Inventory 27,000 Direct Male Used Direct Labor incurred Factory Overhead incurred * Distinguish between Financial an X + LignmentMain.do?invoker=&takeAssignmentSessionlocator Binprogress=false a Income Statements Sample Company Income Statement For the Year Ended December 21, 2018 $42.000.00 $5,250,00 2 Cost of goods sold: Beginning finished goods inventory - Plus cost of good manufactured Tost of Finished goods available for sale Less ending finished goods inventory 6,400.00 $11,65000 400.00 7 Cost of good sold 11.250.00 Gloss profit $50,750.00 Operating expenses: 30 Seding expenses 11 Administrative expenses $6,400.00 5.250.00 1) Total operating expenses 11.650.00 1 Net income $19,100.00 All work saved Bain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Statements Sample Company Income Statement For the Year Ended December 31, 2048 $42,000.00 Sales Cost of goods sold: $5.250.00 Beginning merchandise inventory - Plus net purchases 6,400.00 Merchandise available for sale $11.650.00 Less ending merchandise inventory 7. Cost of merchandise sold 11.250,00 $30,750.00 $6,400.00 8 Gross profit Operating expenses 10 Selling expenses 11 Administrative expenses 12 Total operating expenses Net income 5.250.00 11.650.00 $19.100.00 Able Baker Charlie Company Managerial vs Financial Cost Classification Financial Statements Balance Sheets 38,100.00 13 Total stockholders'equity * Total liabilities and stockholders' equity $55,900.00 Balance Sheet D: Sample Company D Balance Sheet December 31, 2018 Assets Cash $20,800.00 3 Accounts receivable (net) 10,000.00 4 Inventories: 5 Finished goods $2,000.00 Online teach * Distinguh between F + rument/takeAssignment Main.do?invokertakeAssignmentSessionLocatori progress-balse Costs and Balances At the end of February after the second month of operations Able Baker Charte com Chahis shows you the data es ted but he was one to get some of the amount Review the following date and in the missing amounts on the chart for Able de Chave Conany More may be to T w o mape flow of the amounts through the manufacturing accounts and solve for the missing data a s it may also be up to review the steps for coming the cost of a ls used to manufacturing cost incurred and cost of goods maracured Data for February Decrease in manat very Materials wwertory on Feb. 28 - Direct materials purchased Direct maten used Total manufacturing costs incurred in period Total manufacturing costs incurred in period Total manufacturing costs incurred in period $2.700 50% of malenges inventory on Jan 31 $12.000 3 times the direct labor curred $28.000 70% of Cost of Goods Manufactured 8.000 less than Cost of Goods Sold Account Balances Costs incurred Jan. 31 S S Account Materials inventory Work in Process ory Enished Goods Inventory 27,000 Direct Male Used Direct Labor incurred Factory Overhead incurred