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Please help me . Please urgent The Royal phone manufaturer LTD is one of the famous Manufacturing company for cellular products, in their managerial accounting
Please help me . Please urgent
The Royal phone manufaturer LTD is one of the famous Manufacturing company for cellular products, in their managerial accounting system they follow all the required steps to make sure they are allocating the costs correctly to each cost driver as been proposed by their managerial accounting department. Following data refer to this company for the year ended 31 Dec 2020: Work in process inventory, 1 January Revenues Supplies Work in process inventory, 31 December Miscellaneous Finished goods inventory, 1 January Depreciation on factory equipment Raw material inventory, 1 January Finished goods inventory, 31 December Purchases of raw material Heat, light, and power Indirect labor cost incurred Depreciation on factory building Direct labor cost incurred Raw material inventory, 31 December 6,000.00 210,000.00 2,000.00 7,000.00 1,000.00 22,000.00 3,000.00 11,000.00 18,000.00 73,000.00 5,000.00 7,000.00 2,000.00 9,000.00 8,000.00 Marketing, distribution, and customer-service costs 70,000.00 Required 1- Prepare Royal phone manufaturer LTD schedule of cost of goods manufactured for the year ended 31 Dec 2020. 2- Prepare the company's income statement for the year ended 31 Dec 2020Step by Step Solution
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