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Please solve it within 20 mins Question No 4: The following data were taken from the records of Blumbey Manufacturing Company for the fiscal year
Please solve it within 20 mins
Question No 4: The following data were taken from the records of Blumbey Manufacturing Company for the fiscal year ended June 30, 2018: Raw materials inventory July 17 $48,000 Factory insurance $4,600 Raw materials inventory June 18 $39,600 Factory machinery depreciation $16,000 Finished goods inventory July 17 $96,000 Factory utilities $27,600 Finished goods inventory June 18 $95,900 Office utilities expense $8,650 Work in process inventory July 17 $19,800 Sales $554,000 Work in process inventory June 18 $18,600 Plant managers salary $29,000 Direct labor $149,250 Factory property taxes $1,400 Indirect labor $24,460 Factory repairs $9,600 Advertising expense $27,000 Raw material purchase $96,400 Sales commission $150,000 Administrative expense $100,000 Requirements: (Marks 12) Prepare a cost of goods manufactured and income statement for the year ended June 30, 2018Step by Step Solution
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