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Prepare the income statement for Crystal Bay Company for the most recent year. Us Next question cost of goods sold, cost of goods manutactured, and
Prepare the income statement for Crystal Bay Company for the most recent year. Us Next question cost of goods sold, cost of goods manutactured, and the amounts below. Assume that the company sold 34.000 units of its product at a price of $12 each during the year, (Click the icon to view the amounts.) (Click the icon to view the calculation of cost of goods manufactured.) (Click the icon to view the calculation of cost of goods sold) Crystal Bay Company Income Statement For Current Year Less: Less: Clear all Check answer Next question Data table the 1 End of Year $ 10,000 Raw materials inventory Work in process inventory Finished goods inventory Purchases of direct materials Direct labor Indirect labor Beginning End of of Year Year $ 22,000 $ 32,000 Insurance on plant $ 38,000 $ 27,000 Depreciation-plant building and equipment $ 20,000 $ 27,000 Repairs and maintenance-plant $ 72,000 Marketing expenses $ 84,000 General and administrative expenses $ 45,000 $ 12,600 $ 3,600 $ 82,000 $ 24,500 Print Done Cha HW Score: 39.58%. 1.98 of 5 points Reference Next question nent for hat the the am bdsm the cald the cald Cryl 38,000 Crystal Bay Industries Calculation of Cost of Goods Manufactured For Current Year Beginning work in process inventory $ Plus: Manufacturing costs incurred Direct materials used $ Direct labor Manufacturing overhead Total manufacturing costs to account for Less: Ending work in process inventory 62,000 84,000 71,200 255,200 27,000 228.200 Print Done Vil $ Crystal Bay Manufacturing Calculation of Cost of Goods Sold For Current Year Beginning finished goods inventory Plus: Cost of goods manufactured Cost of goods available for sale Less: Ending finished goods inventory Cost of goods sold 20,000 228,200 248,200 27,000 $ 221,200
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To prepare the income statement for Crystal Bay Company we need to go through the following steps 1 Calculate total revenues from the sale of 34000 un...Get Instant Access with AI-Powered Solutions
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