Managerial Accounting

Given the following, prepare a cost of goods manufactured schedule and partial income statement. Refer to the

text for your format.

Raw materials inventory 1/1/16 5,900

Raw materials inventory 12/31/16 5,620

Finished goods inventory 1/1/16 8,600

Finished goods inventory 12/31/16 7,880

Factory insurance 740

Depreciation factory machinery 730

Utilities, factory 1,330

Utilities, office 860

Work in process inventory 1/1/16 950

Work in process inventory 12/31/16 800

Direct labor 14,510

Indirect labor 1,810

Plant managers salary 3,000

Property taxes, factory 610

Repairs, factory 80

Raw materials purchases 6,750

Sales 47,500