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The accounting records of DALLAS Corporation for the year just completed: Sales $99,000 Purchases of raw materials $10,000 Direct labour $24,000 Indirect labour $10,000 Indirect
The accounting records of DALLAS Corporation for the year just completed: Sales $99,000 Purchases of raw materials $10,000 Direct labour $24,000 Indirect labour $10,000 Indirect material $1,000 Other Factory Overhead $10,000 Administrative expenses $10,000 Selling expenses $14,000 Raw materials inventory, beginning" $2,000 Raw materials inventory, ending $7,000 Work in process inventory, beginning $5,000 Work in process inventory, ending $3,000 Finished goods inventory, beginning $16,000 Finished goods inventory, ending $14,000 "Raw Materials Inventory consist of both direct and indirect materials. Required: (a.) Prepare a schedule of cost of goods manufactured in good form. (b.) Compute the cost of goods sold. (c.) Using data from your answers above as needed, prepare an income statement in good form
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