The following data were taken ended December 31, 2014.

from the records of Moxie Company for the year

Factory Insurance $ 7,400 Factory Machinery

Depreciation 7,700

Raw Materials Inventory 1/1/14

Raw Materials Inventory 12/31/14

Finished Goods Inventory 1/1/14

Finished Goods Inventory 12/31/14

Work in Process Inventory 1/1/14

Work in Process Inventory 12/31/14

Direct Labor Indirect Labor Accounts Receivable

Instructions

$ 47,000

44,200

85,000

57,800

9,500

8,000 145,100 18,100 27,000

(LO 5, 6, 7), AP

Case AB

Problems: Set B 41

Beginning finished goods inventory Goods available for sale

Cost of goods sold

Ending finished goods inventory Gross profit

Operating expenses Net income

Instructions

$ (c) 18,300

(d) 1,200

(e) 2,700

(f)

$ 5,000 (j) (k)

2,500 6,000

(l) 2,200

Factory Utilities

Office Utilities Expense

Sales Revenue

Sales Discounts

Plant Manager's Salary

Factory Property Taxes

Factory Repairs

Raw Materials Purchases

Cash 18,000

12,900 8,600 465,000 2,500 60,000 6,100 800 62,500

1. (a)cost of goods manufactured schedule. (Assume all raw materials used were direct materials.)
2. (b)income statement through gross profit.
3. (c) the current assets section of the balance sheet at December 31.