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Yolo Windows, a manufacturer of windows for commercial buildings, reports the following account information for last year (all costs are in thousands of dollars). Information
Yolo Windows, a manufacturer of windows for commercial buildings, reports the following account information for last year (all costs are in thousands of dollars). Information on January 1 (Beginning): Direct materials inventory Work-in-process inventory Finished goods inventory Information for the year: Administrative costs Direct labor Direct materials purchases $ 83 117 1,600 $ 3,660 12,850 Factory and machine depreciation Factory supervision 8,270 11,530 769 Factory utilities 951 Indirect factory labor 2,870 Indirect materials and supplies 676 Marketing costs 1,540 Property taxes on factory 271 Sales revenue 45,600 Information on December 31 (Ending): Direct materials inventory $ 95 Work-in-process inventory 140 Finished goods inventory 1,430 Required: 1. Prepare a cost of goods sold statement. 2. Prepare an income statement. Manufacturing costs: Direct materials: Manufacturing overhead: Total manufacturing overhead Total manufacturing costs Total cost of work in process during the year Costs of goods manufactured during the year Cost of goods sold YOLO WINDOWS Income Statement For the Year Ended December 31 ($000) Total marketing and administrative costs
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