Prepare the current assets section of the balance sheet in the correct
order based on the following information: (2 points)
Accounts Receivable $150,000
Work in process $75,000
Prepaid Expenses $103,000
Cash $20,000
Finished goods $311,000
Raw materials $82,000

10. Prepare a cost of goods manufactured schedule for Premium
Manufacturing Company for 2022. (16 points)
Premium Manufacturing Company has the following cost and expense data
for the year ended December 31, 2022:
Raw materials, January 1 $ 30,000 Insurance – factory building
$ 14,000
Raw materials, December 31 20,000 Property taxes – factory bldg.
6,000
Raw materials purchased 205,000 Sales (net)
1,500,000
Indirect materials 15,000 Delivery expenses
100,000
Work in process, January 1 80,000 Sales commissions
150,000
Work in process, December 31 50,000 Indirect Labour
90,000
Finished goods, January 1 110,000 Factory machinery rent
40,000
Finished goods, December 31 120,000 Factory utilities
65,000
Direct labour 350,000 Depreciation – factory building
24,000
Factory manager’s salary 35,000 Administrative expenses
300,000