Financial Accounting

Ques: The following information pertains to the most recent quarter ended Dec 31, 2022, at Brilliant Production Limited.

1. Prepare a schedule of cost of goods manufactured for the quarter ended Dec 31, 2022.

2. Prepare an income statement for the quarter ended Dec 31, 2022.

Purchases of raw materials $378,000 Raw materials inventory, beginning 44,800 Raw materials inventory, ending 74,000 Depreciation, factory Insurance, factory Direct labour Maintenance,factory248,400124,800 Administrativeexpenses289,600 Sales2,088,000 Utilities, factory 114,000 Supplies, factory 4,120 Selling expenses 330,800 Indirect labour 268,400 Work in process inventory, beginning 28,600 Work in process inventory, ending 122,400 Finished goods inventory, beginning 41,800 Finished goods inventory, ending 167,200