The adjusted trial balance for Appleton Appliances, Ltd. On June 30, the end of its first month of operation is as follows:

The general ledger reveals the following additional data:
a. There were no beginning inventories.
b. Materials purchases during the period were $23,000.
c. Direct labor cost was $18,500.
d. Factory overhead costs were as follows:
Indirect materials......................................................$ 1,400
Indirect labor............................................................ 6,010
Depreciation€“building .............................................. 3,000
Depreciation€“machinery and equipment................... 2,200
Utilities...................................................................... 2,750
$15,360
Required:
1. Prepare a statement of cost of goods manufactured for June.
2. Prepare an income statement for June.
3. Prepare a balance sheet as of June 30.

Transcribed Image Text:

Appleton Appliances, Ltd Trial Balance June 30, 2016 12,600 19,300 4,700 400,000 3,000 66,000 2,200 9,800 Accumulated Depreciation-Mach. and Equip. . 483,260 63,800 Cost of Goods Sold . 31,460 $562,060 $562060