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please answer the number 2 thank you Exercise 6 (Cost of goods manufactured) Consider the following account balances (in thousands) for the Canseco Company: Beginning
please answer the number 2 thank you
Exercise 6 (Cost of goods manufactured) Consider the following account balances (in thousands) for the Canseco Company: Beginning End of of 20X1 20X1 Direct materials inventory Work in process inventory P22,000 P26,000 Finished goods inventory 21,000 20,000 Purchases of direct materials 18,000 23,000 75,000 Direct manufacturing labor 25,000 Indirect manufacturing labor 15,000 Plant insurance 9,000 Depreciation - plant building and equipment 11,000 Repairs and maintenance - plant 4,000 Marketing, distribution, and customer-service costs 93,000 General and administrative costs 29,000 Required: 1. Prepare a schedule of cost of roods manufactured for 20X1. 2. Revenues in 20X1 were 300.000) Prepare the 20X1 income statementStep by Step Solution
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