met een on your colo 16 urte Cm wa Data Tabla - 1 1 End of w $ 1012 1ON1 Year W Det 160015100 100 3 m 600 1100 5 ODOS 300 W 1 12500 - X Reference A $ 36,000 South Marine Industries Calculation of Cost of Goods Manufactured For Current Year Beginning work in process inventory Plus Manufacturing costs incurred Direct materials used Direct labor Manufacturing overhead Total manufacturing costs to account for Less Ending work in process inventory $ ho Cost of goods manufactured (CGM) 67,000 81,000 63,400 247 400 28.000 219.400 Print Done Reference - X South Marine Manufacturing Calculation of Cost of Goods Sold For Current Year Beginning finished goods inventory Plus Cost of goods manufactured Cost of goods available for sale Less: Ending finished goods inventory Cost of goods sold 16.000 219,400 235,400 25,000 210,400 Print Done Prepare the income statement for Strike Gold Company for the most recent year. Use the calculation of cost of goods sold, cost of goods manufactured, and the amounts below. Assume that the company sold 35,000 units of its product at a price of $15 each during the year Click the icon to view the amounts) (Click the icon to view the calculation of cost of goods manufactured (Click the icon to view the calculation of cost of goods sold) DO Strike Gold Company Income Statement For Current Year Los Loss X Data Table Raw materials inventory Work in process inventory Finished goods Inventory Purchases of direct materials Direct labor Beginning End of of Year Year $ 22,000 5 31,000 Insurance on plant $ 42,000 5 31,000 Depreciation-plant building and equipment 5 17.000 $ 24,000 Repairs and maintenance plant 574,000 Marketing expenses $ 89,000 General and administrative expenses $ 43.000 End of Year 10.500 5 12,800 $ 3,900 $ 83,000 $ 27.500 Indirect labor Print Done Prepare the income statement for Strike Gold Company for the most recent year. Use the calculation of cost of good cost of goods manufactured, and the amounts below. Assume that the company old 35,000 units of its product at a price of $15 each during the year HE (Click the icon to view the amounts) (Click the icon to view the calculation of cost of goods manicurd.) - X Reference Click the icon to view the calculation of cost of goods sold) Strike Gold Company Income Statement For Current Year 42.000 Less Strike Gold Industries Calculation of Cont of Goods Manufactured For Current Year Beginning work in process inventory $ Plus Manufacturing costs incurred Direct mater used s Direct labor Manufacturing overhead Total manufacturing costs to account for Low Ending work in process inventory $ Cost of goods manufactured (COM) 60,000 89.000 70.200 Less 266,200 31.000 236,200 - X Reference Print Done $ Strike Gold Manufacturing Calculation of Cost of Goods Sold For Current Year Beginning finished goods inventory Plus Cost of goods manufactured Cost of goods available for sale Less Ending finished goods inventory Cost of goods sold 17.000 235,200 252,200 24,000 $ 228,200 Print Done Clear All Check
