Question
From Job order cost system Question The following data refers to Gen Corporation for the year 2005 Activities Amount Sales revenue Raw material inventory, 12/31/2004
From Job order cost system
Question
The following data refers to Gen Corporation for the year 2005
Activities | Amount |
Sales revenue Raw material inventory, 12/31/2004 Purchases of raw material in 2005 Raw material inventory, 12/31/2005 Direct labor cost incurred Selling & administrative expenses Indirect labor cost incurred Property tax on factory Depreciation on factory building Income tax expenses Indirect material used Depreciation on factory equipment Insurance on factory and equipment Utilities for factory Work in process inventory, 12/31/2004 Work-in-process inventory ,12/31/2005 Finished goods inventory, 12/31/2004 Finished goods inventory, 12/31/2005 Applied manufacturing overhead | $ 2,105,000 89,000 731,000 59,000 474,000 269,000 150,000 90,000 125,000 25,000 45,000 60,000 40,000 70,000 - 0 - 40,000 35,000 40,000 577,500 |
Required:
1- Prepare Gens schedule of cost of goods manufactured for 2005.
2- Prepare the companys schedule of cost of goods sold for 2005. The company closes overapplied or underapplied overhead into cost of goods sold.
3- Prepare the companys income statement for 2005.
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