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The following information is for Thasta Inc., for the year ended December 31, 2023 Of the total raw materials placed into production for the year
The following information is for Thasta Inc., for the year ended December 31, 2023
Of the total raw materials placed into production for the year 16,000 was for indirect material
- Prepare a schedule of raw materials placed into production for the year ended December 31, 2023
- Prepare a schedule of cost of goods manufactured for the year ended December 31, 2023
- Prepare a schedule of cost of goods sold for the year ended December 31, 2023
- Prepare an income statement for the year ended December 31, 2023
Sales revenue | 1,900,000 |
General and administrative expenses | 362,000 |
selling expenses | 129,000 |
manufacturing overhead | 940,000 |
Direct labor used in production | 189,000 |
Raw material purchases | 149,000 |
Finished goods inventory in the ending balance | 523,000 |
Finished goods inventory beginning balance | 614,000 |
Work in progress inventory ending balance | 890,000 |
Work in progress inventory beginning balance | 824,000 |
Raw materials inventory ending balance | 11,000 |
Raw materials inventory beginning balance | 14,000 |
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