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Outdoor Home is a manufacturer of backyard and deck fumiture. Its products are in high demand and it cames no inventory. Following is a
Outdoor Home is a manufacturer of backyard and deck fumiture. Its products are in high demand and it cames no inventory. Following is a list of selected account balanc from its trial balance for the most recent year ended December 31 (in no particular order) (Click the icon to view the December 31 account balances) Read the requirements Requirement 1, 2, 3, and 4. To solve for the amounts Outdoor Home Income Statement. December 31 account balances For the Year Ended Decembe Sales revenue Salaries and wages (for administrative and sales staff) Stain (used in manufacturing furniture) Less Cost of goods sold Stain Wood Labor costs Indirect labor costs Utility costs Other manufacturing overhead Gross profit Less: Total cost of goods sold Operating expenses Salaries and wages Rent and utilities Marketing costs Total operating expenses Operating income - x $33.500 $ 12.000 Indirect labor costs (wages of maintenance workers in factory) 19,500 Other manufacturing overhead (includes factory insurance and property taxes) Rent and utilities (for administrative offices) Utility costs (related to factory) Labor costs (wages of carpenters who build furniture) Accounts receivable. Marketing costs Wood (used in manufacturing furniture) Sales revenues Accounts payable Print Done 0.000 $ 12.100 $ 10.000 $38.000 $27.200 16.500 $ 56,000 $260,000 $ 7,000
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