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The following costs and inventory data were taken from the accounts of Simon Company for 2022 January 1, 2022 December 31, 2022 Inventories: Raw materials
The following costs and inventory data were taken from the accounts of Simon Company for 2022 January 1, 2022 December 31, 2022 Inventories: Raw materials $ 8,000 $ 7,000 Work in process 15,000 13,000 Finished goods 16.000 12,000 Costs incurred Raw materials purchases $ 98,000 Direct labor 42,000 Factory rent 8,000 Factory utilities 10,000 Indirect materials 6,000 Indirect labor 9,000 Operating expenses 17 000 Prepare a schedule showing the amount of direct materials used in production during the year. Raw Materials Inventory.Beginning V $ 8000 Raw Materials Purchases V 98000 Raw Materials Available for Use V 106000 Less VE Raw Materials Inventory, Ending V 7000 Direct Materials Used > $ 99000 Compute the amount of manufacturing overhead incurred during the year Total manufacturing overhead $ 33000 SIMON COMPANY Schedule of Cost of Goods Manufactured Direct Materials Raw Materials Inventory. Beginning $ Acti Go to $ $ $ Activate Wi Go to Settings Prepare the Cost of Goods Sold section of the Income Statement for Simon Company for the year ended December 31, 2022 in good form SIMON COMPANY (Partial) Income Statement $
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