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Please help fill out these two papers, Thank you NEED-TO-KNOW COMPREHENSIVE The following account balances and other information are from SUNN Corporation's accounting records for
Please help fill out these two papers, Thank you
NEED-TO-KNOW COMPREHENSIVE The following account balances and other information are from SUNN Corporation's accounting records for year-end December 31, 2015. Use this information to prepare (1) a table listing factory overhead costs, (2) a schedule of cost of goods manufactured (show only the total factory overhead cost), and (3) an income statement. Advertising expense. Amortization expenseFactory patents Bad debts expense . Depreciation expense-Office equipment Depreciation expense-Factory building Depreciation expense-Factory equipment Direct labor... Factory Insurance used up Factory supervisor salary Factory supplies used Factory utilities Finished goods inventory, Dec 31, 2014 Finished goods inventory, Dec 31, 2015 $ 85,000 16,000 28,000 37,000 133,000 78,000 250,000 62,000 74.000 21.000 115,000 15.000 12.500 Work in process Inventory, Dec 31, 2014 Work in process inventory, Dec 31, 2015 , Income taxes Indirect labor Interest expense Miscellaneous expense Property taxes on factory equipment Raw materials Inventory, Dec 31, 2014 Raw materials Inventory, Dec 31, 2015 Raw materials purchases.... Repairs expense-Factory equipment Salaries expense Sales $ 8,000 9.000 53.400 26,000 25.000 55.000 14.000 60,000 78,000 313,000 31.000 150.000 1.630.000 Product Cost Product Cost Factory Overhead Cost Period Cost Direct Material (DM) ACCOUNT TITLE Avertising Expense 85,000 Total 1. Total Direct Material Cost = Total Direct Labor Total Factory Overhead Total Selling Expense Total Admin & General ASSET: EXPENSE: T DIRECT MATERIAL (DM): AMOUNTS: ... H DIRECT LABOR (DL): FACTORY OVERHEAD (FOH) Total Manufacturing Cost Add Work in Progress Begin Balance BB Dec 31, 2014 Total Cost of Work In Progress during 2015 Less Work In Progress Ending Balance EB Dec 31, 2015 COST OF GOODS MANUFACTURED (COGM) DURING 2015 ... SALES: AMOUNTS: ... Cost of Goods Sold (COGS) GROSS PROFIT: OPERATING EXPENSE: w INCOME BEFORE INCOME TAX : INCOME TAX : NET INCOMEStep by Step Solution
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