Question
Frosting corp. has provided the following relating to the most recent month (August 31, 2020) of operations, for their main product, cupcakes. Bakers salaries: 20,000
Frosting corp. has provided the following relating to the most recent month (August 31, 2020) of operations, for their main product, cupcakes.
Bakers salaries: 20,000
finished goods inventory, beginning 18,000
finished goods inventory, ending: 20,000
General & administrative expenses: 20,000
Indirect materials: 17,500
Productions supervisor, Salary: 21,000
Purchase of raw materials: 28,000
Raw materials inventory, ending: 19,000
Raw materials inventory, beginning: 18000
rent on productions factory 19,000
rent, retail store: 18,000
Sales: 243,000
utilities on production factory: 17,500
utilities, retail store: 17,000
Wages, retail staff: 20,000
WIP inventory, beginning: 19,500
WIP inventory, ending: 21,500
1) a schedule of cost of goods manufactured in good format
2) the cost of goods sold section of the income statement
3) an income statement in good format
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