Question 2- Manufacturing Statement and Classified Income Statement

The following list of items was taken from the adjusted trial balance and other 2018 records of Harris Company before the year-end closing entries were recorded:

Factory utilities

27,000

Direct labour

543,200

Transportation-in on raw materials

24,000

Income taxes expense

110,400

Indirect labour

47,250

Inventories:

Raw materials, January 1

122,750

Raw materials, December 31

136,350

Goods in process, January 1

8,200

Goods in process, December 31

11,250

Finished goods, January 1

120,800

Finished goods, December 31

113,400

Miscellaneous production costs

7,600

Office salaries expense

56,700

Raw materials purchases

701,000

Rent expense, office space

18,900

Rent expense, selling space

19,200

Rent on factory building

64,800

Maintenance, factory equipment

22,000

Sales

2,431,350

Sales discounts

50,000

Sales salaries expense

236,250

Factory supervision

97,200

Advertising expense

19,200

Amortization of factory equipment

28,350

Amortization expense, Office equipment

6,750

Amortization of selling equipment

7,100

Factory supplies used

12,900

Required:

Complete The Manufacturing Statement and Classified Income Statement for Harris Company