Question

Accounting for Manufacturing Concern 

The following data from the just completed year are taken from the accounting records of Kenton Company

Required:

 

  1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.

 

  1. Prepare a schedule of cost of goods sold. Assume that the company’s underapplied or overapplied overhead is closed to Cost of Goods Sold.
  2. Prepare an income statement.
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