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The following data have been taken from the accounting records of Jimbob Co. for the year ended December 31,2021. Depreciation Factory Building $ 10,000 Depreciation
The following data have been taken from the accounting records of Jimbob Co. for the year ended December 31,2021.
Depreciation Factory Building
$
10,000
Depreciation Factory Building
50,000
Depreciation Sales Department automobiles
10,000
Direct Wages Factory
200,000
Direct Benefits Factory Employees
30,000
Factory Managers Salary and Benefits
50,000
Finished Goods Inventory, Beginning
20,000
Finished Goods Inventory, Ending
30,000
Head Office Salaries and Benefits
300,000
Other Administrative Expenses
50,000
Other Manufacturing Overhead Expenses
40,000
Other Selling Expenses
30,000
Raw Materials Inventory, Beginning
10,000
Raw Materials, Ending
15,000
Raw Material Purchased
200,000
Sales Department Salaries and Commissions
150,000
Sales Revenue
1,200,000
Utility Cost Factory
50,000
Utility Costs Sales Office
20,000
Work in Process Inventory, Beginning
100,000
Work in Process Inventory, Ending
110,000
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.
Please answer each question in a blank Excel workbook using only on 1
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