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Prepare (a) the companys Schedule of Cost of Goods Manufactured for the month ended November 30 and (b) prepare the companys Cost of Goods Sold
Prepare (a) the companys Schedule of Cost of Goods Manufactured for the month ended November 30 and (b) prepare the companys Cost of Goods Sold section for Iceman Company in the format as shown in my videos.
Factory Utilities | $10,000 |
Indirect material | 5,000 |
Depreciation expense - Factory equipment.......... | 9,100 |
Administrative Supplies Used | 5,000 |
Indirect Labor........ | 24,000 |
Materials Purchases.......... | 100,000 |
Income tax expense | 5,000 |
Direct Labor | 110,000 |
Factory supplies used | 1,000 |
Advertising Expense | 20,000 |
Depreciation expense - Office equipment | 12,200 |
Administrative salaries expense | 15,000 |
Sales | $500,000 |
Inventories: | |
Materials inventory, Nov 1 | 65,000 |
Materials inventory, Nov 30 | 35,000 |
Work in process inventory, Nov 1 | 30,000 |
Work in process inventory, Nov 30 | 24,000 |
Finished goods inventory, Nov 1 | 60,000 |
Finished goods inventory, Nov 30 | 62,000 |
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