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Mesa Designs produces a variety of hardware products, primarily for the do-it-yourself (DIY) market. As part of your job interview as a summer intern at
Mesa Designs produces a variety of hardware products, primarily for the do-it-yourself (DIY) market. As part of your job interview as a summer intern at Mesa, the cost accountant provides you with the following (fictitious) data for the year (in $000). 1/1/00 $ 59 Inventory information: Direct materials Work-in-process Finished goods 12/31/00 $ 66 998 1,024 Other information: Administrative costs Depreciation (Factory) Depreciation (Machines Direct labor Direct materials purchased Indirect labor (Factory) Indirect materials (Factory) Property taxes (Factory) Selling costs Sales revenue Utilities (Factory) For the year 100 $ 3,200 3330 4,730 7,600 5,260 1,780 590 240 1 180 35,610 640 Required: 1. Prepare a cost of goods sold statement. 2. Prepare an income statement. Complete this question by entering your answers in the tabs below. COGS Stmt Income Stmt Prepare a cost of goods sold statement. (Enter your answers in thousands of dollars (.e., 234,000 should be entered as 234).) MESA DESIGNS Statement of Cost of Goods Sold For the Year Ended December 31 (5000) Manufacturing costs: Direct materials: Manufacturing overhead: COGS Stmt Income Stmt Prepare an income statement. (Enter your answers in thousands of dollars (.e., 234,000 should be entered as 2 MESA DESIGNS Income Statement For the Year Ended December 31 ($000) Total selling and administrative costs
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