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The following events took place for Technology Treasures Manufacturing Company during January, the first month of its operations as a producer of digital video monitors:
The following events took place for Technology Treasures Manufacturing Company during January, the first month of its operations as a producer of digital video monitors:
a Purchased $ of materials.
b Used $ of direct materials in production.
c Incurred $ of direct labor wages.
d Incurred $ of factory overhead.
e Transferred $ of work in process to finished goods.
f Sold goods for $
g Sold goods with a cost of $
h Incurred $ of selling expense.
i Incurred $ of administrative expense.
Using the information given, complete a and b
A Prepare the january income statement for technology treasures manufacturing company. Be sure to complete the statement heading. Revenues to net income.
B Determine the materials inventory, work in process inventory, and finished goods inventory balances at the end of the first month of operations. Materials inventory work in process inventory? Finished goods inventory?
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