Alexandria Company provided the following data for the current year:Inventory end of the fiscal period as compared with balances at the beginning of the fiscal period were as follows:Finished goods 200,000 decreaseGoods in process 90,000 decreaseRaw materials 100,000 increase Indirect labor600,000Factory taxes130,000Sales8,000,000Purchase1,600,000Office salaries800,000Freight in80,000Income tax expense170,000Depreciation-machinery50,000Advertising120,000Office supplies expense30,000Factory Superintendence480,000Direct labor1,480,000Factory heat, light and power220,000Doubtful account100,000Factory supplies expense120,000Sales salaries520,000Delivery expense160,000Factory maintenance150,000 Required:Prepare an income statement for the current year supported by a schedule of cost goods manufactured.

Cost of Goods Manufactured is a schedule or statement which shows the total production costs of…

Answered: Alexandria Company provided the…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 3RE: Shaquille Corporation began the current year with inventory of 50,000. During the year, its...

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Alexandria Company provided the following data for the current year:

Inventory end of the fiscal period as compared with balances at the beginning of the fiscal period were as follows:

Finished goods 200,000 decrease

Goods in process 90,000 decrease

Raw materials 100,000 increase

Indirect labor	600,000
Factory taxes	130,000
Sales	8,000,000
Purchase	1,600,000
Office salaries	800,000
Freight in	80,000
Income tax expense	170,000
Depreciation-machinery	50,000
Advertising	120,000
Office supplies expense	30,000
Factory Superintendence	480,000
Direct labor	1,480,000
Factory heat, light and power	220,000
Doubtful account	100,000
Factory supplies expense	120,000
Sales salaries	520,000
Delivery expense	160,000
Factory maintenance	150,000

Required:

Prepare an income statement for the current year supported by a schedule of cost goods manufactured.

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