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The accounting department at Mansbridge Inc. prepared the following income statement for the QUARTER ending December 31, 2019. Sales $1, 400, 600 Purchases of materials
The accounting department at Mansbridge Inc. prepared the following income statement for the QUARTER ending December 31, 2019. Sales $1, 400, 600 Purchases of materials (1) 248,940 Payroll (2) 26?, 700 Advertising 3?, 600 Administrative travel 28, 200 Manufacturing utilities 50, 600 Facility rental (3) 96, 000 Depreciation (4) 64, 700 Sales commissions 4?, 000 AI'WUA]. Insurance for Manufacturing Facility 46, 000 Office utilities 23, 000 Management salaries (5) 394, 000 Net income Fr: 96, 860 r Notes: (1) 90% of the materials were direct (2) 80% direct labour: 20% indirect labour (3) 90% related to manufacturing (4) 80% related to manufacturing (5) 40% related to manufacturing The department also compiled the following information with respect to inventories for the quarter (note that the company does not maintain inventories of indirect materials). Beginning Ending Direct materials 3 7, NC! 38, 340 Work in process 8, 370 9, 600 Finished goods 11, 580 7, 600 Required: 1. Prepare a cost of goods manufactured statement for the quarter. Direct materials: __ Direct materials available for use _ Direct materialsused i = Cast 0f gaads manufactured
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