Fill in ALL the Boxes (3 Lines Top, 17 Lines Bottom). Please Explain How You Got The Answer.

Fill in ALL the Boxes (3 Lines Top, 17 Lines Bottom). Please Explain How You Got The Answer.

1. Information for Basic Factory, Inc., as of December 31 follows: Raw materials inventory, January 1 Raw materials inventory, December 31 Goods in process inventory, January 1 Goods in process inventory, December 31 Finished goods inventory, January 1 Finished goods inventory, December 31 Depreciation of factory equipment Direct labor Factory supplies used Raw materials purchases Depreciation of delivery vehicles Factory building rent Sales commissions Factory utilities Interest expense Factory insurance $ 88,000 68,000 25,000 28,900 120,000 88,700 27,000 88,000 9,500 180,000 12,000 20,000 40,500 16,000 8,000 17,000 Required: Prepare a cost of Goods Manufactured statement for the year ended December 31. Use the columnar paper on page 2 for your answer. |