Suppose that applied accounts of a production company is as attached. Theinventory balances is as follows: raw materials (beginning: 140.000 TL, ending:115.000 TL), work-in process (beginning: 60.000 TL, ending: 55.000 TL) andfinished goods (beginning: 65.000 TL, ending: 80.000 TL). The sales revenue is2.000.000 TL. Prepare the income statement.Applied to the cost Applied to theperiod costsApplied to the idle Applied to the cost ofTOTALof productioncapacity lossesPPEDirect materials cost applied account850,000.0020,000.00870.000.00Direct labor cost applied account260.000.00250.000.0010.000.00400,000.0010.000.0040.000.00450.000.00Factory overhead applied accountSelling expenses applied accountGeneral adm. Exp. Applied acountFinancing expenses applied account70.000.0070,000.00120,000,00120.000.0030.000.0015.000.0045.000.00TOTAL1.500.000.00230.000.0040.000.0045.000.00 L815.000.00

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Answered: L. Prepare the income statement.

Business

Accounting

L. Prepare the income statement.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 2PB: The following product costs are available for Kellee Company on the production of eyeglass frames:...

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