The following information is available for Satterfields Custom Glass for the fiscal year ending December 31, 201
Question:
The following information is available for Satterfield’s Custom Glass for the fiscal year ending December 31, 201 1.
Beginning balance in Work in Process........... $ 200,000
Ending balance in Work in Process ............ 300,000
Beginning balance in Fini5hed Goods........... 500,000
Ending balance in Finished Goods............. 400,000
Direct material cost...................2,000,000
Direct labor cost..................2,400,000
Manufacturing overhead.................1,700,000
Selling expenses.................. 250,000
General and administrative expenses.......... 450,000
Sales........................8,000,000
Required
a. Prepare a schedule of cost of goods manufactured.
b. Prepare an income statement for fiscal 2011 Ignore income taxes.
Step by Step Answer:
a Satterfields Custom Glass Schedule of Cost of Goods Manufactured For the Year Ended Dece...View the full answer
