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The following data refer to Laredo Luggage Company for the year 20x2: Sales revenue $ 1,000,000 Work-in-process inventory, December 31 30,000 Work-in-process inventory, January 1
The following data refer to Laredo Luggage Company for the year 20x2: |
Sales revenue | $ | 1,000,000 |
Work-in-process inventory, December 31 | 30,000 | |
Work-in-process inventory, January 1 | 36,000 | |
Selling and administrative expenses | 150,000 | |
Income tax expense | 80,000 | |
Purchases of raw material | 160,000 | |
Raw-material inventory, December 31 | 25,000 | |
Raw-material inventory, January 1 | 40,000 | |
Direct labor | 200,000 | |
Utilities: plant | 40,000 | |
Depreciation: plant and equipment | 50,000 | |
Finished-goods inventory, December 31 | 50,000 | |
Finished-goods inventory, January 1 | 10,000 | |
Indirect material used | 10,000 | |
Indirect labor | 9,000 | |
Other manufacturing overhead | 60,000 | |
41.
Required information
1. | Prepare Laredo Luggages schedule of cost of goods manufactured for the year. |
rev: 06_08_2015_QC_CS-17166
42.
Required information
2. | Prepare Laredo Luggages schedule of cost of goods sold for the year. |
43.
Required information
3. | Prepare Laredo Luggages income statement for the year. |
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