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Need done soon $1,226,000 40,000 56,800 66,800 182,500 232,000 20,400 45,000 5,250 Sales 31, 2016 31, 2016 31, 2016 Raw materials inventory, Dec. Work in
Need done soon
$1,226,000 40,000 56,800 66,800 182,500 232,000 20,400 45,000 5,250 Sales 31, 2016 31, 2016 31, 2016 Raw materials inventory, Dec. Work in process inventory, Dec. Finished goods inventory, Raw materials purchases Dec. Direct labor Factory computer supplies used Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, Dec. 31, 2017 53,000 85,000 135,000 48,700 47,10 71,500 in process inventory, 31, 2017 Wor Finished goods inventory, Dec. 31, 2017 For Year Ended December 31, 2017 $ 1,226,000 Sales Cost of goods sold X $ Work in process inventory, December 31, 2016 40,000 Finished goods inventory, December 31, 2016 40,000 (x Raw materials purchases 40,000 Cost of goods available for sale 120,000 Less: Finished goods inventory, December 31, 2017 182,000 Cost of goods sold (62,000) Gross profit Operating expenses Direct labor Raw materials purchases X Raw materials purchases Work in process inventory, December 31, 2017 Total operating expenses Operating income $Step by Step Solution
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