The adjusted trial balance for Rochester Electronics, Inc. on November 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 $33,000.
c. Direct labor cost was $18,500.
d. Factory overhead costs were as follows:
Indirect materials......................................................$ 1,400
Indirect labor............................................................. 4,300
Depreciation€“building.............................................. 3,000
Depreciation€“machinery and equipment.................. 2,200
Utilities..................................................................... 2,750
$13,650
Required:
1. Prepare a statement of cost of goods manufactured for the month of November.
2. Prepare an income statement for the month of November.
3. Prepare a balance sheet as of November 30.

Transcribed Image Text:

Rochester Electronics, Inc. Trial Balance November 30, 2016 $21,800 16,200 13,900 Cash Work in Process.. .. 7,400 $ 3,000 88,000 2,200 8,900 Accumulated Depreciation-Mach. and Equip. . . . 422,550 68,300 42,450 $504,950 $504,950