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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
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). Inventory information: Direct materials Work-in-process Finished goods 1/1/00 $ 51 12/31/00 $ 58 79 71 990 1,016 Other information: Administrative costs Depreciation (Factory) Depreciation (Machines) For the year '00 $ 2,400 2,930 4,650 Direct labor 6,800 Direct materials purchased 5,180 Indirect labor (Factory) 1,700 Indirect materials (Factory) 510 Property taxes (Factory) 200 Selling costs 1,100 Sales revenue 31,610 Utilities (Factory) 560 Required: 1. Prepare a cost of goods sold statement. 2. Prepare an income statement.
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