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Tiessen Limited provided the following information for the year ended December 31: Costs incurred: Marketing expense Direct labour cost Raw material purchases Rent, manufacturing building
Tiessen Limited provided the following information for the year ended December 31: Costs incurred: Marketing expense Direct labour cost Raw material purchases Rent, manufacturing building Indirect labour Sales comissions Utilities, manufacturing Depreciation, manufacturing equipment Supplies, manufacturing Depreciation, office equipment Repairs, manufacturing equipment 300,000 270,000 396,000 240,000 168, 900 105,000 27,000 72,000 2, 100 24,000 120,000 Beginning of Year End of Year Inventories: Raw materials Work in process Finished goods $ 24,000 15,000 210,000 $ 30,000 60,000 75,000 Required: 1. Prepare a schedule of cost of goods manufactured. TIESSEN LIMITED Schedule of Cost of Goods Manufactured For the year ended December 31 Direct materials: 0 Raw materials used in production $ 0 Manufacturing overhead: 0 Total manufacturing overhead costs Total manufacturing costs 0 0 Cost of goods manufactured EA 0 2. Prepare the cost of goods sold section of Tiessen Limited's income statement for the year. 0 $ 0
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