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how do you complete the statement of COGM and the Income Statement D E J M 15 6 2. 7 On Company Statement of Cost
how do you complete the statement of COGM and the Income Statement
D E J M 15 6 2. 7 On Company Statement of Cost of Goods Manufactured For the Month Ended December 31 119,000 $ 65,800 282.800 Work in process inventory, December 1 Direct materials: Materials inventory, December 1 Purchases Cost of materials available for use Materials inventory, December 31 Cost of direct materials used in production Direct labor Factory overhead Total manufacturing costs incurred during December Total manufacturing costs (30,800 Cost of goods manufactured 3. On Company Income Statement For the Month Ended December 31 Sales Cost of goods sold Cost of finished goods available for sale Cost of goods sold Gross profit Operating expenses Net Income Materials inventory, December 1 Materials inventory, December 31 Materials purchased Cost of direct materials used in production Direct labor Factory overhead Total manufacturing costs incurred in December Total manufacturing costs Work in process inventory, December 1 Work in process inventory, December 31 Cost of goods manufactured Finished goods inventory, December 1 Finished goods inventory, December 31 Sales Cost of goods sold Gross profit Operating expenses Net income On Company $ 65,800 (A) 30,800 282,800 317,800 387,800 148,400 (B) 854,000 973,000 119,000 172,200 (C) 800,800 224,000 197,400 1,127,000 (D) 827,400 (E) 299,600 117,600 (F) 182,000 Off Company $ 195,300 91,140 (A) 581,560 (B) 685,720 577.220 256,060 1,519,000 1.727.320 208,320 (C) 195,300 1.532,020 269,080 (D) 256,060 1,944,320 1,545,040 (E) 399,280 (F) 234,360 164,920 Step by Step Solution
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