Question
Given the following selected account balances of Shonda Company, prepare its manufacturing statement for the year ended on December 31, 2019. Include a listing of
Given the following selected account balances of Shonda Company, prepare its manufacturing statement for the year ended on December 31, 2019. Include a listing of the individual overhead account balances in this statement.
Sales $1,252,000
Raw material inventory, Dec 31,2018 39,000
Goods in process inventory, Dec 31, 2018 55,900
Finished goods inventory, Dec 31, 2018 64,750
Raw materials purchases 177,600
Direct labor 227,000
Factory computer supplies used 19,840
Indirect labor 49,000
Repairs - Factory equipment 7,250
Rent cost of factory building 59,000
Advertising expense 96,000
General and administrative expenses 131,300
Raw materials inventory, Dec 31, 2019 44,700
Goods in process inventory, Dec 31, 2019 43,500
Finished goods inventory, Dec 31, 2019 69,300
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started