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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):
Mesa esigns produces variety of hardware products, primari y for the do-it-yourser DIY marke. As part of your job nte ie as summer iler at Mesa, the cost accountant pro c es you with the Olo ing fictitious data fo the year in $000): Direct materials $ 53 60 T3 Finished gocds 902 1,018 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 Utiiies (Faciory) For the year 00 S 2,600 3,030 4,670 7,000 6,200 1,720 530 210 1,120 32,610 580 Required: Prepare the income statement with a supporing cost of goods sold statement. (Enter your answers in thousands of dolars (Le., 234,000 should be entered as 234)) DES Income Statement For the Year Ended December 31 Less: Cost of goods sold oss margin Administrative costs elling costs Total selling and administrative oosts Operating proft DESIGNS Statement of Cost of Coods Sold For the Year Ended December 31 Manufecturing costs Direct materialsStep by Step Solution
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