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Project Question: The Ramos Company Beginning of 2019 End of 2019 Direct materials inventory 28.000 30,000 Work-in-process inventory 21.000 23,000 Finished-goods inventory 15,000 21,000 Purchases
Project Question: The Ramos Company Beginning of 2019 End of 2019 Direct materials inventory 28.000 30,000 Work-in-process inventory 21.000 23,000 Finished-goods inventory 15,000 21,000 Purchases of direct materials 76,000 Direct manufacturing labor 18,000 Indirect manufacturing labor 11,000 Plant insurance 9.000 Depreciation plant, building and equipment 11,000 Repairs and maintenance plant 3,000 Marketing. distribution, and customer-service costs 82.000 General and administrative costs 20,000 Required: 1. Prepare a schedule for the cost of goods manufactured for 2019. Revenues for 2019 were $350 million. Prepare the income statement for 2019. 2. *Note that all balances are reported in thousands. So to input a revenue of $350 million in the schedule, you input 350,000
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