Question
Income statement with supporting cost of good manufactured and sold statement from this: Accounts receivable .............. .......$156,000 Administrative costs ... ...................240,000 Capital stock ............. .
Income statement with supporting cost of good manufactured and sold statement from this:
Accounts receivable .............. .......$156,000
Administrative costs ... ...................240,000
Capital stock ............. . . .............600,000
Depreciation-manufacturing ...............126,000
Direct labor ... . ...... .....................410,000
Finished goods inventory, January 1 ...... 125,000
Finished goods inventory, December 31 .....96,000
Heat, light, and power'--plant .......... ...23,000
Marketing costs . ........... .......... .....247,000
Miscellaneous manufacturing costs ..........5,800
Plant maintenance and repairs ... .. .. 31,600
Property taxes-manufacturing ... ..... . . . . . 29,000
Direct materials purchase .............. .... 306,000
Direct materials inventory, January 1 ......93,000
Direct materials inventory, December 31 . .. 83,500
Sales revenue . . . .... . . . . ................... 1,948,000
Supervisory and indirect labor ..... . . . .....138,000
Supplies and indirect materials . ... . . . .....6,000
Work in process inventory, January 1 ......149,000
Work in process inventory, December 31 ...137,000
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