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ying Carpet Sporting Goods Company manufactured 175,000 units in 2019 and reported the following costs. O#2) Trading Securities Work-in-process, 1/1/2019 Furniture Prepaid rent Dividends
ying Carpet Sporting Goods Company manufactured 175,000 units in 2019 and reported the following costs. O#2) Trading Securities Work-in-process, 1/1/2019 Furniture Prepaid rent Dividends Patent Finished goods, 1/1/2019 Finished goods, 12/31/2019 Work-in-process, 12/31/2019 Miscellaneous plant overhead Plant utilities Salaries of factory manager Sales salaries Fire insurance equipment Sales commissions Cash and cash equivalent Direct materials, 1/1/2019 24,000 Direct materials, 12/31/2019 8000 Buildings 80,000 68,800 42500 Direct manufacturing labor 544,000 30000 Leasing costs - plant 96000 16500 Depreciation-equipment 56,000 35000 Indirect Materials 144,000 168,000 Indirect manufacturing labor 68,800 320,000 Account receivables 100000 16,000 Accounts Payable 12400 152,700 Property taxes equipment 8,000 784,000 15,000 4,000 6,000 200,000 125000 Sales revenue 96,000 Advertising costs 3,200,000 67,500 General office expenses 46,200 90,000 Direct material purchases 144,000 Marketing distribution costs Salespersons' company vehicle costs 160,000 Administration costs 120,000 Required: Answer the following questions (Show your work Please, You may use Microsoft Excel) (a) Prepare a cost of goods manufactured schedule for Flying Carpet Sporting Goods Company for 2019. (b) Prepare an income statement for Flying Carpet Sporting Goods Company for 2019. (c) Prepare the current assets section of the balance sheet for Superior Company as of December 31, 2019.
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