Question
I need answers to the following problem for a study guide: Use the following information to complete the Manufacturing Statement for ABC Co: Advertising Expense
I need answers to the following problem for a study guide:
Use the following information to complete the Manufacturing Statement for ABC Co:
Advertising Expense - $65,000
Amortization of patents - $13,000
Bad debts expense - $25,000
Depreciation--office equipment - $36,000
Depreciation--factory equipment - $35,000
Depreciation--factory building - $100,000
Direct labor - $200,000
Factory supervision - $69,000
Factory supplies used - $20,000
Factory utilities - $89,000
Goods in process inventory, Dec. 31, 2002 - $7,000
Goods in process inventory, Dec. 31, 2003 - $8,500
Indirect labor - $43,500
Interest expense - $1,500
Misc. expense - $6,000
Property taxes--factory equipment - $11,000
Raw materials inventory, Dec. 31, 2002 - $14,000
Raw materials inventory, Dec. 31, 2003 - $12,300
Raw materials purchases - $56,000
Salaries expense - $150,000
Sales - $1,530,000
Fill out the following for ABC Co. Manufacturing Statement For the Year Ended December 31, 2003
(Direct Materials):
Raw materials inventory, Dec. 31, 2002 -
Raw materials purchases -
Raw materials available for use -
Raw materials inventory, Dec. 31, 2003 -
Direct materials used -
Direct Labor -
(Factory Overhead):
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Total factory overhead costs -
Total manufacturing costs -
Add goods in process inventory, Dec. 31, 2002 -
Total cost of goods in process -
Deduct goods in process inventory, Dec. 31, 2003 -
Cost of Goods Manufactured -
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